We are delighted to announce that we have formally launched our latest Banking as a Service (BaaS) product, the EUR Virtual Account, at GITEX AFRICA Morocco 2024. This innovative solution will enable businesses across North and Francophone Africa to collect foreign currency payments easily.
Fincra has built the EUR Virtual Account to simplify the process of businesses receiving Euro payments, which can be done effortlessly through simple bank transfers. This capability will benefit a wide range of industries, from traditional retail and e-commerce to hospitality, tourism, and professional services, enabling them to serve their European clientele better.
The EUR Virtual Account has been our main focus as we attend and engage participants from Booth 19C-30, Hall 19 of the GITEX AFRICA Morocco 2024 which holds from May 29th to 31st, 2024.
With this launch, we are expanding our comprehensive suite of payment solutions, which already includes various tools to facilitate seamless transactions.
These tools, part of the Pay-In product line, allow businesses to accept payments through multiple methods, such as checkout systems and payment links.
Fincra’s Pay-In solutions support payments via cards, bank transfers, and mobile money, providing businesses with versatile options to cater to their customers.
Fincra currently offers virtual accounts in various currencies, including the Nigerian Naira. The introduction of the EUR Virtual Account marks our first foreign-currency virtual account, aiming to meet the specific needs of businesses in North and Francophone Africa.
Selling to European customers
Imagine a bustling marketplace in Marrakech where a local artisan can sell handcrafted goods to a customer in Paris as easily as a local transaction. Similarly, a hotel or restaurant in Egypt can now accept Euro payments from European tourists through straightforward bank transfers to a virtual account. In Tunisia, tech startups can issue virtual accounts to their diaspora, allowing seamless Euro transactions back home thanks to Fincra’s robust infrastructure.
“Businesses in Africa are increasingly seeking reliable and cost-effective solutions to manage their international payments, especially in Euros,” said Wole Ayodele, Chief Executive Officer (CEO) of Fincra.
“Our EUR Virtual Account offers a cheaper alternative to card funding, simplifies Euro payment collections, and enables platforms to issue named Euro accounts to their customers. This makes it an ideal choice for businesses aiming to streamline their payment processes.”
About GITEX AFRICA Morocco 2024
GITEX AFRICA is Africa’s largest tech and startup event, curating innovation from markets across fast-growing sectors like fintechs, e-commerce, artificial intelligence, telecoms, etc. The event in Morocco from May 29-31, 2024, will bring together innovative businesses, entrepreneurs, tech enthusiasts, and networking professionals, providing an unparalleled platform for innovation, collaboration, and business growth.
