Banks, Telcos subscribe to AlexPay

Some banking institutions and the major telecommunications networks in the country have signed on to Alexpay, a product of Allied Exchange Africa, to end the lack of cross-network money transfer across the country.

Institutions like Access Bank, SG-SSB, OmniBank, UBA to mention a [ads1]few were joined by MTN, Airtel, Vodafone and Tigo to official outdoor the new payment platform which has the hope to expand across Africa where mobile money is strong.

According to the Chief Operating Officer (COO) and Co-founder of Alexpay, Moses Kanduri, the increased transactions and cash flows via mobile money transfer service platforms only shows that mobile money is the future and the key to Ghana’s financial inclusion and cash-lite agenda.

He said “Alexpay will not only introduce cross-network interoperability but is expected to give its users fast, convenient and secure electronic transactions to help them grow their businesses.

“The platform allows users to create virtual mobile money accounts where they can deposit, purchase, send, withdraw, pay bills, transfers and can be integrated with various credit cards.”

He added that merchants can also integrate it online to power payments on their web stores and urged patrons to embrace the innovative payment solution for fast, convenient and secure electronic transactions.

On his part, the Chief Executive Officer (CEO) and Co-founder of Allied Exchange Africa, Jacques Blinbaum, said Alexpay will integrate various mobile money platforms and traditional banking networks in Ghana and across Africa.

“Alex is in the cloud and will help you with all your financial transactions and bill payments,” he said.

Currently, the Alexpay USSD, Mobile App and Web Service platforms collectively support the following services: cross mobile network money transfer and airtime top-up; third-party bill payment and collection, bank account and card integration, and bulk disbursement of funds to beneficiaries.