International Finance

Velmie launches mobile banking solutions for African customers

Velmie African customers

Fintech company Velmie is launching mobile banking solutions for Africa’s hundreds of millions of unbanked consumers. These solutions will benefit the unbanked population through online transactions, media reports said.

Paul Shumsky, head of product, told the media, “There is a unique opportunity for Africa to become a world leader in FinTech, getting the most out of emerging technologies while greatly contributing to financial inclusion and innovation.”

The company has built a white-label mobile banking solution for secure and direct ways of initiating payments. In addition, businesses will be able to create a robust financial ecosystem by building trusted relationships with customers.

Velmie’s mobile wallet will comprise features such as secure two-factor authorisation, interactive identity verification, airtime purchases in unique digital currency specific to Africa, bill payments, peer-to-peer transfers with QR codes, branded payment cards, real-time money transfers and multiple currency support among others.

A host of payments platforms will be integrated into the Velmie’s mobile wallet. These platforms are Flutterwave, Currencycloud, Mpesa and African Payment Gateway, media reports said. The company is one of the many that have introduced blockchain technology into fintechs and successfully developed solutions for customers.

It is reported that the company’s recent projects include a nationwide payment system in North Africa

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