Accra, Ghana, July 16, 2020//-Africa’s enthusiastic efforts of becoming the hub for digital financial services (DFS) have been boosted by the meteoric penetration of smartphones, robust IT infrastructure, sound policies and growing middle-class.
Similarly, several vital elements have contributed to the shift to digital payments, notably good connectivity, budding financial technology (fintech) industry, growing financial infrastructure, and a continuously improving regulatory environment.
Significantly, there is also a common recognition of the need to continue building an inclusive and responsible digital payments ecosystem on the continent.
Doing so is driving financial inclusion, particularly for women, improve transparency of payments, and open up new markets for goods and services, which in turn support economic growth.
Indeed, the launch and growth of digital financial services has led to an unprecedented increase in the number of people enjoying access to formal financial services, according to the ‘Digital Access: The Future of Financial Inclusion in Africa’, 2018 report.
Today, Africa is home to more digital financial services deployments than any other region in the world, with almost half of the nearly 700 million individual users worldwide, it indicated.
“Mobile money solutions and agent banking now offer affordable, instant, and reliable transactions, savings, credit, and even insurance opportunities in rural villages and urban neighborhoods where no bank had ever established a branch”.
Why ALEXpay Africa is the game-changer
This is the void that ALEXpay Africa which is one of the fastest growing digital payment platforms that integrates all the segmented telco-based mobile money service platforms to provide a reliable national switch for all mobile money transactions in Ghana and in 12 countries, is in to fill.
Its cross-network transaction capability and interconnect clearing interchange functionality enable it to provide a wide range of financial solutions including scaling up the mobile money service platform, integrating mobile money and traditional banking transactions, linking accounts to physical payment cards, assisting merchants with processing card based transactions, and accommodating foreign remittances.
“In addition to ALEXpay’s payment capabilities, our platform is uniquely able to incorporate a wide range of billing services making the billing and collection process significantly more efficient and economical for our partners”, Chief Operating Officer and Co-Founder of ALEXpay Africa, Moses Kanduri, explained.
All transactions are backed up with online financial and accounting tools that allow ALEXpay and its partners to control and record all transactions via an easy to use interface.
“At ALEXpay, we are uniquely positioned to offer a single integrated platform for all fund transfer and billing service solutions. We are, therefore, able to provide our services efficiently and at the lowest costs to our customers”, he said.
Currently, both the ALEXpay USSD and Mobile App platforms support the following services listed below.
Through ALEXpay people can send and receive money across various mobile networks and multiple currencies across 12 countries in Africa, Brazil, United Arab Emirates, United Kingdom and USA.
“Our industry partnerships facilitate cross-border payments which allow you to terminate international remittances directly to your MoMo wallet in the respective countries at competitive exchange rates”, Mr Kanduri further explained.
You can count on ALEXpay to deliver secure, convenient and reliable mobile money transfer services across Africa and beyond”.
This service allows customers to pay for goods and services in a fast, secure and convenient manner through the ALEXpay billing solution.
Business owners, service providers, restaurant operators, school managers, among others can also integrate ALEXpay for your billing and collections.
It is important to note that the company’s comprehensive backend reporting tools provides a range of accounting and reporting functionality for effective decision making.