Fintech Firm Moves to Ease Cross-border Payments With Payday 3:0
- Payday is making plans to ease cross-border payments in Nigeria, the company said
- The neo-bank has introduced a rebranded and reinvented app, Payday 3.0, for ease of payments
- The company said Payday services Africans wishing to send, receive and spend money globally
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Fintech firm Payday aims to be a one-stop app for African cross-border money transfers. The neo-bank says it serves Africans ready to send, receive, and spend money globally without limitations.
Payday Africa is an innovative app that has opened up a world of financial opportunity for people in Africa, allowing consumers to exchange, save, manage, send, and spend money at the best possible rates without any limits.
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Firm moves to ease card payment
Due to increasing demand for card transactions, cross-border transactions, and the list goes on.
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Fintech firm Payday is committed to making financial transactions easier for Africans with its 3:0 version.
According to Nairametrics, some of the key features added to the already existing Payday that makes cross-border payments much easier are two new options to send and receive money – Paytags and Payment links; users can now send money to other Payday users using their unique Paytags and can also create a payment link to receive money from anyone.
The merger of the Payday balance with the USD balance implies that the customers’ Payday balance and USD account are now the same.
Feature of the app
Another feature added is the currency swap feature.
With the swap feature, customers can exchange USD for NGN and vice versa and hold money in any balance until they’re ready to withdraw.
Payday users can now add their account details to platforms like Deel to receive their salary in minutes instead of days, and available currencies on the Payday app have been expanded to include NGN, USD, GBP, EUR, and CAD.
Top digital wallets to adopt in Nigeria to avoid excessive bank charges
Recall that Legit.ng reported that excessive bank charges had driven Nigerians into the waiting arms of fintech firms that have developed products to lure them away from conventional banking.
These fintech companies have built digital wallets and mobile savings platforms that have kept Nigerians from the clutches of excessive charges employed by Nigerian banks.
Data from Statista states that Nigeria’s digital wallet adoption will grow by 37.6 per cent by 2025.
Source: Legit.ng
