riancochran

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vor 5 Jahrendiscuss

We offer more than just sending. Wise actually charges fees too, that make lower transfer values more expensive. But beyond transfers, Wise doesn't allow it's users to hold NGN, KES, GHS, for example, nor do they allow users to send from Africa into NA/EUROPE.

vor 5 Jahrendiscuss

Yes. In what situation has support been bad for you?

vor 5 Jahrendiscuss

what are some of your other pain points?

vor 5 Jahrendiscuss

Users will also eventually have the freedom to hold the currencies they want rather than just two as described above.

vor 5 Jahrendiscuss

1) Sendwave only provides remittance into Africa (among other continents), but you can't bring funds out of Africa via Sendwave. 2) That's all Sendwave does, just that one service. 3) We offer user's accounts in their country of origin (KES for a Kenyan), plus an account in their country of residence (USD if now residing in the US). Then we allow for instant interaction between the two (so users can send money out of Africa), as well as other services, plus other services to come.

vor 5 Jahrendiscuss

I'd advise you begin by understanding the regulation in the markets you want to service. If this is just Panama, and you want to begin with domestic interactions, then understand what license, if any, you need in order to process payments or hold funds on behalf of your users.

vor 5 Jahrendiscuss

Really too early to say.

vor 5 Jahrendiscuss

Hi. Good question. Revolut, Wise, etc, doesn't support native african currencies, nor do they support the flow of funds from Africa to NA or Europe.

vor 5 Jahrendiscuss

Hadn't see this article, but this is a great example.

vor 5 Jahrendiscuss

We can relate. All of this is solvable.

vor 5 Jahrendiscuss

This is the grind

vor 5 Jahrendiscuss

We will support EUR and GBP soon. They are already and option as a sending currency. But they will also become available as an account currency soon.

vor 5 Jahrendiscuss

We only onboard users in Canada today. But we are finalizing integrations to launch in the US and UK. We support the Nigerian communities first with Kenya coming next.

vor 5 Jahrendiscuss

None yet. But we’d like to support it eventually. We need to be careful navigating the regulation there.

vor 5 Jahrendiscuss

Considered. Certainly something to keep an eye on but we are still miles apart with our offerings.

vor 5 Jahrendiscuss

We have a partner that we use for verification, AML, sanction, PEP checks during onboarding.

vor 5 Jahrendiscuss

There’s a convergence of consumer and business here. Even a home owned and leased out in a country of origin drives demand for services that aren’t offered by today’s financial institutions. Also, as you suggest, many immigrants export cars and other physical products home to subsidize their salary where they now reside.

vor 5 Jahrendiscuss

Yes. Certainly a challenge for most immigrant communities. Plenty of opportunity outside of the African diaspora