Lagos. Aug. 23, 2023: TRANZFAR, a payment solution provider, plans to revolutionise “send and receive’’ money system across different countries through seamless payment and banking services.
Ms Sarah Essien, a director with TRANZFAR, said at the launch of the company’s new payment application, called ‘freedom account’ on Tuesday in Lagos.
Essien said that the new payment application allows for the direct remittance of foreign currency into accounts from Africa.
She said that TRANZFAR’s vision revolves around providing solutions that utilise state-of-the-art technology.
According to her, the company aims to offer innovative and convenient payment solutions, ensuring efficient transfers and banking services.
With the introduction of ‘freedom account’, Essien said that TRANZFAR enables individuals to receive and manage foreign currency in their accounts from Africa.
She noted that the application also helps to remove the need for traditional remittance methods.
”We will ensured ours is one of the most trustworthy services, globally and partnering with only the best organisations in the world,” she said.
She said that TRANZFAR remained committed to increase the level of financial connectivity between the global diaspora and the rest of the world, especially from products that are to be introduced.
She added: “We’re committed to redefining the way people worldwide connect with them and interact financially.’’
Ryan Romeo, CEO and co-founder, TRANZFAR, said that the freedom account mainly targeted at users from Africa, who are provided with a functional digital bank account.
Romeo said that the account could receive and send money instantly, set up standing order and direct debits amongst other banking features.
He enumerated the general guidelines as the account would operate within the UK banking framework from anywhere in the world.
“Send and receive instant payment within UK banks and access 90 countries, set up and manage direct debits, setup standing orders, virtual card payment.
“£0.50 fixed fee for all services excluding basic plans, deposited funds are protected by the UK financial, services compensation scheme.
“The account will operate as a GBP, USD and EURO multi-currency account and each user will have a unique bank account digit and sort code,” he said.
Also, another official of the company, Mr Olusiji Sanya, said that TRANZFAR, a Fintech company based in London, was willing to partner with local banks.
Sanya said that the company had launched the product in Lagos and Accra, while using feedbacks from customers to strengthen its activities.