Kura Payments provides a digital platform for fast, secure, and efficient cross-border money transfers and merchant payments. Users can sponsor loved ones abroad with real-time tracking and instant disbursement capabilities, eliminating the need for cash or traditional banking apps. The service also enables merchants to receive instant payments and streamline invoicing within the network.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional cross-border remittances often involve high fees, slow processing times, and the need for beneficiaries to have bank accounts or physically collect cash. This can create barriers to accessing essential goods and services for recipients in developing countries.
Solution
Kura provides a digital payment platform that enables sponsors to directly fund specific goods and services for beneficiaries living abroad. Instead of sending cash, sponsors can set up recurring payments or one-time transfers earmarked for healthcare, groceries, or other essential needs. Beneficiaries receive a QR code and security code, allowing them to instantly make purchases at approved merchants within the Kura network without needing a bank account or mobile app. The platform offers real-time payment tracking and ensures funds are used for their intended purpose, providing greater transparency and control for sponsors.
Target Audience
The primary target audience includes individuals who want to provide financial support to family and friends living abroad, as well as merchants in developing countries who want to reach new customers and streamline their payment processes.
Features
- Digital payment solution enabling instant, contactless transactions via QR code and security code
- Recurring payment plans with spending limits for healthcare, groceries, and other essential goods and services
- Real-time transaction tracking for sponsors
- Geolocation of approved merchants within the Kura network
- No bank account or app download required for beneficiaries
- Streamlined invoicing for merchants