As the Liberian economy faces enormous challenges by the traditional banking system, some Liberian owned companies have seen the need to address these difficulties and challenges.The Financial Technology (FinTech) Companies and FinTech Solutions have stepped in to help individuals and businesses do cash transactions in a safe and convenient manner, thereby helping to facilitate money transfers as well as payments for goods and services. eWallie operates on any network and can integrate with any bank.The people in rural areas, marketers, and other consumers are often excluded from formal banking and economic activities, thus posing series of threats, such as traveling long distances, physical cash safety, mutilated banknotes, counterfeit issues, etc.
Meanwhile, due to enormous problems facing the banking system in Liberia, Telcom, Banks and Companies and FinTech have embarked on multiple solutions bringing relief to Liberians in the Banking Sectors. The startups, TipMe, Bnb, and eWallie which are new entrants, bring meaningful solutions and convenience to the banking sector in Liberia. Banks and Telcoms provide services such as remittance, online shopping, bill settlements, etc.
eWallie has several additional services such as pay at restaurants, supermarkets and stores, send and receive money, pay school fees, online market, shopping, cash out and cash in transfer to Bank Account, Top-up with year credit cadent, etc.As the emergence and digitization of financial transactions get better and wider, FinTech and partners provide a more trustworthy, reliable and convenient money service transaction with a very low interest or charged fees.
source : https://smartnewsliberia.com/technology-companies-set-to-rescue-liberia-from-cash-problem-banking/