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For strictly business purposes, there are several instances where mobile money transfer APIs become subsets or interact with Fincra APIs.

Across Africa, mobile money transactions have become the primary tool for access to financial services. With the reducing cost of mobile devices and increasing internet penetration, Africa’s young demographic has become mobile-driven. According to GSMA’s 2021 State of the Industry Report on Mobile Money, two-thirds of mobile money transactions worldwide were by users in sub-Saharan Africa (SSA), with a transaction value of $490 billion.

Mobile money service transfers money between mobile devices enabling users to receive, send and withdraw money without going to a bank. This form of financial transaction has driven financial inclusion in Africa, giving millions access to pay for goods and services, send and receive remittances, transfer money to friends and family etc., with the use of mobile.

Every day, many people use mobile money transactions without knowing the details about the APIs that power these services. API stands for Application Programming Interface, a set of definitions and protocols for building and integrating application software. This set of definitions and protocols allows for the secure transmission of information. APIs let your product or service communicate with other products and services.

APIs are highly sought after in the mobile money financial marketplace as customers demand more immediate and seamless payment, and transfer options and Fintechs are using them to deliver better products.

Mobile money transfer API

Mobile money transfer APIs allow financial service providers to transfer value from a registered customer to another registered customer. Sometimes, the transfer can also be to a non-registered individual.
There are several business cases for mobile money transfers, including paying for goods and services, merchant payments, bill payments, agent services and disbursements. These payments have several routes;  Customer-to-Business and Businesses to Businesses payments.
For strictly business purposes, there are several instances where mobile money transfer APIs become subsets or interact with Fincra APIs;

Virtual Account API

Businesses can use Fincra’s Virtual Account API to create permanent and temporary virtual accounts. Temporary virtual accounts help receive one-off payments via mobile money transfer. This can be generated with a fixed amount and provided to a customer to complete a checkout process. This is an instance where a mobile money transfer API becomes a subset of a Fincra API
Fincra has built highly secure and convenient APIs for any mobile transfer involving business transactions.

Choosing Fincra as your mobile transfer API provider gives your customers a seamless payment experience and guarantees security and ease of use in the transaction process.

Checkout API

Fincra Checkouts are secure payment pages that you can quickly integrate into your website or apps to collect payments from your consumers. Checkouts simplify building customised payment experiences for your customers (including mobile) while ensuring a smoother and more secure transaction. There is a mobile money transfer option to receive money; another instance where a Fincra API and mobile money transfer API interact.

Payout API

There is a mobile money transfer option for payouts (sending out money).   This use case has a Fincra API interacting with a mobile money transfer API.
With Fincra API, you can also have mobile money wallets.


It is harder to do business in Africa without optimising mobile payment methods, which is impossible to do without mobile money transfer API.
Mobile transactions are essential to a host of business payment instances, whether a customer is paying directly with a bank transfer, a debit card, or a business is looking to pay suppliers and partners.

This is why businesses have to partner with API providers who can bring solutions to these payment challenges.

Fincra is that partner.

If you are interested in payment APIs that can help you scale,  you first need to partner with Fincra. Once you have done that, our support will guide you through setting up the process for different payment options.

Through our Merchant Dashboard, businesses can see several options.
Fincra designed these APIs for developers to build global financial products. They are ideal for businesses that make frequent payments and require flexibility and control over how and when funds are moved.

You can give our products a quick spin by signing up for a demo here:             

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