As featured in a recent article in Techmoran, PAYTOO has launched international money services across the various states of Africa. With PAYTOO, unbanked individuals throughout the region can now send and receive money straight out of their PAYTOO Mobile Wallet™
Africa’s banking market is potentially vast and virtually untapped. While the banking penetration among the continent’s 1 billion inhabitants varies significantly from country to country, swathes of the population in Senegal and Tanzania, for instance, have virtually no access to banks. Additionally, the African remittance market is among the one of the most expensive in the world. However, the mobile wallet market in Africa is one of the most advanced. With 30 million of Africans living abroad, Michel Poignant, CEO and founder of PAYTOO, saw the benefit of integrating a mobile wallet solution into the region. “We realize the need to have a less expensive and more convenient solution for them to send money to their family in Africa,” says Michel Poignant.
By partnering with Infenix, PAYTOO was able to offer inexpensive, fast and easy money transfers specifically aimed to accommodate an estimated 79 million people in Africa. As numerous people begin to travel globally the need to transfer money to their home countries will increase. These individuals can now rely on PAYTOO to send remittance to their loved ones and friends.
More importantly, with the increasing threat of online hacking, people everywhere are fearful and do not want their information compromised. Consumers are looking for safe solutions that will allow them to transfer funds securely and without exorbitant fees. PAYTOO users can rest assured their payments will be sent safely and securely.
PAYTOO already offers money transfer solutions in places such as the Middle East, Latin America, Australia and now Africa. Looking ahead, PAYTOO will soon be offering these services in India and Russia. But PAYTOO is much more than just a mobile wallet that allows consumers to make money transfers. The PAYTOO Mobile Wallet provides its users with the most complete suite of services including: direct deposit, bill payment, top-up, merchant payment, cardless ATM, gift/virtual card purchasing, credit building and much more. It is perfectly designed to answer the many needs of unbanked individuals. Put simply, PAYTOO is increasingly becoming the best choice for mobile banking consumers.