Wallet.ng originally launched last year as a digital payments platform that allows people to send and receive money more easily; all they need to do is use their phone numbers.
The platform is currently aiming to increase their efficiency and provide lower costs for their services that they provide.
To achieve these goals, the company has partnered up successfully up with huge players such as Interswitch, FlutterWave, Microsoft, and System Specs.
The entry barrier that was previously in place for then Wallet.ng platform has been lowered substantially, thus allowing more of the neglected lower classes to now be able to access their financial services.
Nigerians only need to input their numbers into the platform to register an account. Users can request for an SMS to be sent to through their phones every time money is reportedly put into their bank.
Users that are registered into the platform also have a choice whether to fund their accounts through a local or even international card.
The co-founder of Wallet.ng, John Oke, said, “The major gap in the market was poor service delivery by banks, often prioritizing profit over meeting the actual needs of customers. Wallet seeks to empower everyday customers and small to medium scale businesses by providing access to loans, escrow services and seamless subscription payments.”
As of now, the startup is seeking funding opportunities despite its partnership with some of the strongest fintech players in all of Nigeria.
Despite the fact that the startup has not even been up and running for a whole year yet, they have already gathered 430 active users with over 2,400