Money Q Fintech Solutions Launches Digital Wallet and Remittance Services in Africa

Money Q Fintech Solutions Launches Digital Wallet and Remittance Services in Africa

by 20 March 2023

Money Q Fintech Solutions, a Dubai-based fintech startup, announces its plans to expand its services in the African market with its in-house customisable semi-closed loop digital wallet, KrosPayz, and international money remittance system, KrosRemit.

Founded in 2020 and registered at the Dubai International Financial Centre (DIFC), Money Q aims to empower African citizens by providing them with access to essential financial services through digital means, regardless of the mobile device they use.

With a vision to make KrosPayz accessible to every smartphone and feature phone user, Money Q’s digital wallet offers a range of services, including domestic and international airtime top-ups, utility bill payments, QR code payments, remittances, domestic transfers, microfinancing and much more.

This expansion will enable millions of Africans to enjoy the convenience and benefits of going digital, bridging the financial inclusion gap.

Money Q is making significant strides in expanding its services across Africa. With licensing formalities underway in Malawi, KrosPayz is expected to go live by April/May 2023.

Additionally, a partnership agreement with a licensed entity in Botswana has been completed to pave the way for a co-branded wallet launch by May/June 2023. Money Q is also in the process of seeking a license in Seychelles.

Money Q has completed several important integrations and developments to enhance its services and reach. These include integration with an international aggregator for providing international bill payment services for nearly 11 countries and mobile top-ups for 165 countries, as well as integration with Cellulant, an African-based aggregator, for bill payment and mobile top-up/recharge services in approximately 14 countries.

Additionally, Money Q has developed KrosRemit, a remittance platform integrated with leading Money Transfer Operators (MTOs) that is currently being deployed in Malawi.

KrosRemit has now access to almost 600 plus mobile wallets in Africa, 100 plus countries for remitting money into Bank accounts which includes SEPA countries and transfers to USA.

As Money Q Fintech Solutions continues to expand its services in Africa, the company is poised to have a significant impact on financial inclusion and the empowerment of millions of people across the continent.

Find out more about KrosPayz here.


Featured image credit: Edited from Unsplash

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