October 13, 2021 All Things Fintech in Africa

M-Naria’s Three Cool Features you had no Idea about

 

M-naira is the new way of making transfers across countries. Before now, if one wanted to send money from abroad, he/she had to use Western Union , Money Gram or travel  long distances. But with FinTech , the typical banking problems are getting resolved. This is where M-Naria comes into the picture, to bridge the gap in remittances, mobile payments, and financial inclusion.  

Most importantly, M-Naira is designed to ensure quick and more secure way to send money and remit money home directly to a bank account or mobile wallet. So, essentially one can pay  bills for their family and friends from anywhere, whenever.

Let’s Meet M-Naira

Mayowa Ihnmikaiye is the cofounder of M-Naira, and also the marketing officer of BeepTool CIS Limited.  One of the problems he was looking to solve was to design a transfer service platform that interconnects all the Nigerian bank accounts, mobile wallets, and billing systems. Which delivers instant remittance services to Nigerians anywhere in the world.

 However, with M-Naira, instant transfer is available from any UK, USA and EU approved countries to Nigeria. Also, it is a 24/7 rotation service delivery, real-time updates on transfers – to know where exactly your money is, with zero debit or credit fees.  Not only is M-Naira making remittances affordable and stress-free. But is bridging the financial inclusion gap, as well as  connecting Nigerians living in the rural area to the financial world using Nano-satellites. Despite poor or no connectivity in those areas, with the nano-satellites it allows the people have access to M-naira to send or receive payments for goods and services.

 

M-Naira’s Features   

Asides remittances, M-Naira works directly with service providers to enable payments for services such as utilities, healthcare, school tuition e.t.c.  You can send and transfer money to your loved ones across UK, USA and Eu approved countries to Nigeria. And also pool funds together  in form of a peer –to-peer banking system, which has been made available  to encourage savings.

Pay with M-Naira: 

This feature allows users to pay merchants instantly using QR Scan code. How cool is that?  It is a contactless payment method in which payments are made using QR code from the m-naira app. If you are seller or a merchant, you can receive payments from someone, just by entering the amount and the M-naira will generate a QR code for you. Then, share the code to whom you want to receive money from and get credit. Similarly works for a buyer or one who wants to make payments. Scan the QR code sent by the receiver and your transaction is processed.

 

The Blink with M-naira:

a method of payment available in M-naira  allowing  users to make payments in-store and online, withdraw and deposit cash at ATMs or agent locations. It can only be done by a generated BLINK Checks (a one-time 6 digit code), which would allow you make payments at ATMs or agent location cash withdrawals.

How it works?

  • Select the Blink within M-naira app
  • Enter the amount you wish to pay or send
  • The next page shows the amount you want to transfer, convenience fee and the total amount to pay.
  • Confirm and Verify the QR code sent to you
  • You can share to a nearby M-naria agent  to validate the token
  • Once it has been confirmed by the agent, confirm and y0ur transaction is completed.

 

Esusu with M-naira:  

M-naira’s esusu  is a peer to peer savings and loan service. Similarly system with the traditional rotating loans, savings, and cooperative  society. The difference is this one works online. And alllows you to save with a group of friends or family members, or borrow money monthly.  

Note: The esusu charges a flat subscription fee of 2.5% per pay out cycle to whoever is taking the slot for a lump sum.

 

Banner
Related Posts

  How to go Cashless with Paga

March 29, 2020

March 29, 2020

 For frequent cash users who are more comfortable with the traditional payment systems, going cashless have built up a sort...

MTN in a Partnership with Ericsson has launched an Open API platform in Ghana

October 24, 2019

October 24, 2019

  Introduction MTN mobile money fondly known as MOMO has expanded to Ghana. The open API platform launched is to...

 FlutterWave:  Creating Financial Accessibility With Digital Payment Solutions

September 27, 2019

September 27, 2019

Introduction:  Sometimes, I feel the technology is  man’s coolest invention. Digital bank is the newest rave of the now, which...

Zazu Raises $1.4m in an attempt to expand their user base

December 11, 2019

December 11, 2019 1

  Zazu fully started as a digital banking space in 2107.  Previously, Zazu was a platform where farms could connect...

6 Facts About Paystack Nigeria You Never Knew Before

April 19, 2019

April 19, 2019 2

6 Facts About Paystack  Nigeria You Never Knew Before As the new kid on the block when it comes to...

Paga, Nigeria’s Mobile Money Operator Crosses 1.5 Trillion Naira in Transaction

August 12, 2019

August 12, 2019 1

Paga, Nigeria’s Mobile Money Operator Crosses 1.5 Trillion Naira in Transaction Value Earlier today, the CEO of Paga, Nigeria’s foremost...

Kudi Money; Save, Spend and Borrow

April 22, 2019

April 22, 2019

  Kudi Money is redefining the idea of bank and assisting income earners to save, spend and borrow money.   And...

TeamApt Secures Highest Level of License Awarded to any Fintech by Nigeria’s CBN

April 19, 2019

April 19, 2019

Table Of ContentsTeamApt Secures Highest Level of License Awarded to any Fintech by Nigeria’s CBNTeamApt Secures Highest Level of License...

PayPal Introduces Invoice API for Online Sellers

August 16, 2019

August 16, 2019

Introduction:                                                                                    Paypal have be able to identify the challenges most small and medium businesses face from: cash flow management,...

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020

November 14, 2019

November 14, 2019

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020 Nigeria is one of the countries...

Remitly Partner with Xpress Money to Expand Cross-border Money Services

December 2, 2019

December 2, 2019

Remitly is an online remittance service which allows users to transfer money from United states to Nigeria , while Xpress...

PesaLink, Kenya’s Payment System

October 28, 2019

October 28, 2019

  What is PesaLink? Pesalink is a payment system launched by the Kenya Bankers Association (KBA). This is a digital...

Verifyme Secures a Series A Funding from Consonance Investment Manager

January 31, 2020

January 31, 2020

VerifyMe Nigeria, an ID verification and KYC technology company,  has secured a Series A financing for an undisclosed amount from...

Konga Pay : Features you never knew  about and How it Works.

May 7, 2019

May 7, 2019

Konga Pay is a pilot product launched by Konga.com in 2015 for online shoppers.  Shopping on Konga was made easier...

With Wallet you can Upgrade your Daily Personal and Financial Experience

April 25, 2019

April 25, 2019

  Wallet is an app that enables you to make quick financial decisions daily. With ease and convenience, banking has...

Comments
Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.