WinstantPay partners with eMoney Solutions to promote financial inclusion in Africa.
FOR IMMEDIATE RELEASE
WinstantPay (www.winstantpay.com) and eMoney (http://emoney-solutions.com/ ) have signed a Memorandum of Understanding to collaborate in:
RE: WinstantPay partners with eMoney Solutions to promote financial inclusion in Africa.
1) The integration of the wallet solutions of eMoney Solutions, WinstantPay and their Partners This joint effort will bring the functionalities of the WinstantPay wallet to the partner banks of eMoney Solutions with the aim to enable financial transactions, while giving their customers access to nine major features, including: real-time, anytime and anywhere, in all currencies (including crypto), maximum security and compliance, transparency, personalization, concerns everyone, affects everyone, even the most inaccessible, lowers costs of money transfer.
These easy-to-use and inexpensive solutions promote the financial inclusion of the unbanked and underbanked, help SMEs pay their suppliers and allow banks to reach large customers in Africa.
2) Enhanced regulatory financial compliance WorldKYC gives customers and users full control of their digital identity and personal data including the decision where the data resides. The customer can create a wide range of profile properties to granulary control what a particular user wants to share with counterparties on a need to know basis. The KYCKey allows consumers and businesses to share data to comply with KYC and privacy regulations. WorldKYC simplifies the work of the privacy officer by respecting the balance between compliance and privacy laws such as the European GDPR and reporting laws such as AML and FATCA.
3) Establishing a network of correspondent institutions eMoney Solutions and WinstantPay are collaborating in the establishment of a network of corresponding financial institutions in Africa. SwissClear, a company currently being established by WinstantPay is a key component of this offering. As a “Lite bank”, SwissClear provides instant settlement and targets a large number and diversity of commercial and financial institutions which are often overwhelmed or threatened by the digital transformation of finance.
SwissClear cooperates with these institutions to help them integrate finance and technology by creating a clearing system that acts like a correspondent bank and works very quickly and at low cost, whilst ensuring full AML and ATF regulations.
The pooling of services and technology will enable the two companies to target the financial transactions market in Africa, in particular banks and financial institutions, partners of eMoney Solutions in ten African countries. WinstantPay partners with eMoney Solutions to promote financial inclusion in Africa.
WinstantPay was formed to provide a global network for instant settlement of payments in any currency, anywhere, and anytime. It has the power of SWIFT, Western Union, and Visa / Mastercard without the overhead and at lower fees, while still complying with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
WinstantPay brings Fintech and the traditional banking system together, enabling every person to make and receive instant payments and remittance, in any currency, including cryptocurrencies like Bitcoin, and Etherium (depending on local regulations).
Furthermore, WinstantPay enables small banks and financial institutions, such as foreign exchange (FX) brokers facing challenges in finding correspondent banks, to offer currency exchange and global payment services. visit our website and follow us on Linkedin, Twitter, Facebook, YouTube, Medium, and Github.
About eMoney Solutions
eMoney Solutions is an African Fintech cooperation specialized in building and providing modern payment solutions. Through simple, secure and accessible solutions, eMoney’s solution aid the digitalization of payments to allow banks, telecom operators and merchants to increase the means of payment and to strengthen the financial inclusion of their customers.
eMoney’s solutions include agency banking, money transfer, bill payment and service purchase solutions to support the development of banks in Africa.