Money is such a big deal. We use it in virtually all forms of payments known to man and we know we have to keep growing and saving it in order to keep enjoying the benefits it provides. So far, banks have done a good job of helping us save large chunks of money and have even employed a number of payment services to make transactions more seamless for us. However, these payment services prove unreliable sometimes and result in unnecessary fees. This is where Wallet.ng comes in.
Just recently unveiled, Wallet.ng is a payments platform that lets people send and receive money using their phone numbers. Aside from payment services, Wallet.ng is also providing users who want to channel their wealth and resources into the right investments, even globally, with a better experience.
How It All Began
Wallet was founded by John Oke. His idea for the service came from his previous experience with providing wallet-solutions for previous employers. According to him, every product he worked with had a wallet and as a result, he picked up the domain name, Wallet, when it was time to start his company. With the help of two other friends, John founded Wallet.ng. Today, Wallet is run by someone John calls “Joey”, the COO, and co-founder Joseph Benson-Aruna. Together, their goal is to go a step further from where commercial banks have stopped by providing better financial products and services that users want. Services such as forex, investments, credit, budgeting and the likes are still far from the reach of investors and that is why Wallet.ng has provided a platform to access them easily.
Big On Experience
The average millennial is no longer held within the constraints of his own country’s financial services, but has tapped into the global economy. People now make transactions on international level and platforms, which sometimes can have complicated payment processes. This is why Wallet has created an overall better experience. The service is for those who don’t want to deal with unnecessary fees or failed transactions when trying to pay for Udemy courses, purchase Apple music, or pay for gadgets on Amazon. In simple terms, Wallet wants to improve the way you make both local and international transactions, save costs for you on your transactions, and give you quality customer service.
So Far So Good
Wallet’s target audience are students, entrepreneurs, and working class individuals. Presently, it has over 5000 users on its database which is quite impressive considering the that it has only been around for a short while. A few months ago, the platform recorded a procession of N234 million on an estimated 17000 transactions and has seen a high increase in transaction volume since January 2018. In August 2018, Microtraction, a Nigerian Venture Capital Firm, announced its investment in Wallet.ng. According to the founder of Microtraction, Yele Bademosi, Wallet has the potential to become truly Pan-African and in the future, it will cater to every kind of customer, offering them affordable, accessible and consistently innovative financial services.