The EUR Virtual Account will simplify the process for businesses to receive Euro payments through straightforward bank transfers. This service aims to benefit a wide array of industries, including traditional retail, e-commerce, hospitality, tourism, and professional services, helping them better serve their European clientele.
Wole Ayodele, the Chief Executive Officer (CEO) of Fincra, highlighted the growing demand among African businesses for reliable and cost-effective solutions to manage their international payments, especially in Euros. He stated:
“Businesses in Africa are increasingly seeking reliable and cost-effective solutions to manage their international payments, especially in Euros. 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.”
The EUR Virtual Account will be part of Fincra’s comprehensive suite of payment solutions, which includes various tools designed to facilitate seamless transactions. These tools, under 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’ needs.
Currently, Fincra offers virtual accounts in several African currencies, including the Nigerian Naira (NGN), Kenyan Shilling (KES), Ghanaian Cedi (GHS), and Ugandan Shilling (UGX). The introduction of the EUR Virtual Account represents Fincra’s first foray into offering a currency solution outside Africa, specifically targeting the needs of businesses in North and Francophone Africa.
The EUR Virtual Account solution will be officially launched at GITEX AFRICA Morocco 2024, a prominent event that showcases digital transformation and technological advancements across the continent.
With this launch, Fincra aims to further expand its footprint in the fintech industry, providing innovative and practical solutions to facilitate international business operations and support economic growth in Africa.
