@BdAfrica

SA firm to set up cross-border money transfer platform - 12 months ago, 15 Apr 18:09

James Kariuki

South African Fintech start-up Vio Digital will next month launch a blockchain technology-based cross-border money transfer platform expected to cut remittance fees. The platform will initially target Kenya, Cameroon, Ghana and Nigeria. Its service will also see introduction of digital currency tokens to be bought via the Vio App using Visa or Mastercard platforms only. Vio Founding chief executive Praga Govender, a former Visa Sub-Sahara Africa Director of Product, said Vio Token will reduce costly cross-border money transfer charges. “For people sending money home to their families, additional processing and administration costs can be crippling. Our app uses technology to give people safer and more convenient ways to move their money. “Blockchain technology can take out costs on the transfer system giving people cheaper ways to move their money,” said Mr Govender. The entry of Vio Digital will excite the mobile money platform in Kenya which is dominated by Safaricom’s #ticker:SCOM ...
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