Investing in Fintech start-ups great way to capitalise growth – CEO, OA Pay
The Chief Executive Officer of One Africa Technologies (OA Pay) – a free remittance platform, Tracey Abiola, has said one key way to harness the promising gains in the Fintech sector and boost its growth is by investing in Fintech start-ups.
“The Fintech sector is one of the most exciting and innovative sectors in the world. It is leading the way in developing innovative solutions to financial services and banking challenges, and is playing an important role in driving economic growth and development in various countries.
“With a large number of start-ups, investors and established companies, the sector is rapidly expanding and creating opportunities for entrepreneurs, businesses and consumers. Investing in Fintech start-ups can be a great way to capitalise on the growth of the sector,” she said in an interview with the B&FT.
She is confident increasing access to capital for Fintech start-ups and businesses could help them grow and expand, adding that this could be done through public-private partnerships, venture capital investments, or government grants.
“Also, the government should create an environment that encourages innovation in the Fintech sector. This could include providing tax incentives, funding research and development, and providing support for start-ups. Government should invest in improving its infrastructures, such as its Internet and mobile networks, to ensure that Fintech companies can operate efficiently. Again, the government should also strengthen its regulations to protect Fintech companies,” Mrs. Tracey Abiola added.
OA Pay’s role
With its vision of becoming a major Fintech giant across the globe, Mrs. Abiola assured that her outfit is employing measures to provide the best remittance services to its clients and to help them achieve economic success in their designated countries of operation.
OA Pay is a free remittance platform that ensures fast and secure transfer from the UK & USA -Atlanta Georgia to Africa without hidden charges.
It offers the most cost-effective remittance services tailored to African clients’ needs, making sure that clients send money at the most competitive exchange rate on the market for their families and for project payments.
Each transfer made with OA Pay from the UK & USA-Atlanta Georgia to Africa takes less than ten minutes; so, clients can send money back home to friends and family whenever they want, and it is completely free of charge.
The CEO, who doubles as the Director, indicated that: “Having excellent relationships and connections with banks is crucial. OA Pay is able to buy African currencies directly from African local banks upon reception of GBP & USD, thus, creating a bigger margin and enabling a better rate for customers. This way, OA Pay makes most of its revenues from the said margin.
“We do not gain profits with additional charges that many other remittance companies impose. When clients remit with OA Pay, we offer market conversion rates with 0 percent commission. Clients’ personal data is fully encrypted and always kept safe, and we offer real-time transfer alerts that keep our clients informed about their remittance activities and also make room for clients to send money online using debit or credit cards. OA Pay has an integration which cuts across all mobile networks and local banks, allowing clients to send money directly to mobile wallets or bank accounts abroad.”
OA Pay is unique from its competitors because it prides itself in being an authentic African company regulated by FCA, with African based developers being its core team lead; thus, building the local communities and harnessing expert resources from African roots.
“A Fintech platform made by Africans in supporting our African community.”
She holds that remittance services are extremely necessary for African expatriates who wish to support their families and friends back home as well as business investments; but more importantly, there is a need to deal with the right service provider.
Currently, OA Pay operates in the USA – Atlanta Georgia, UK, Ghana and Nigeria.
In line with its social impact projects, every transfer with OA Pay supports a safe child birth by funding local hospitals and non-governmental organisations (NGOs).