NayaPay is a digital wallet platform that enables users to conduct free money transfers and manage everyday payments through a Visa debit card, which is accepted globally at millions of merchants and ATMs. The platform addresses the need for a transparent and user-friendly banking solution by eliminating hidden fees and providing instant access to funds and transaction history.
Funding
$13M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ZVFounders
Product
Problem
Traditional banking solutions often involve hidden fees, complex processes, and limited accessibility, creating barriers for users seeking transparent and user-friendly financial services. Managing everyday payments and conducting money transfers can be cumbersome, especially for those who require international payment options.
Solution
NayaPay provides a digital wallet platform designed to streamline financial transactions and enhance user control over their funds. Users can conduct free money transfers, manage bill payments, and receive remittances from global partners directly into their accounts. The platform offers a Visa debit card, both virtual and physical, enabling users to make online, in-store, and international payments. NayaPay emphasizes transparency by eliminating hidden fees and providing instant access to transaction history, empowering users to manage their finances efficiently.
Target Audience
NayaPay primarily targets individuals seeking a convenient and transparent digital wallet for everyday payments, money transfers, and international transactions, particularly those who value fee-free services and seamless access to funds.
Features
- Free Visa virtual debit card issued instantly upon account creation
- Physical Visa debit card delivered for in-store shopping and ATM withdrawals worldwide
- Seamless money transfers to any bank account, utilizing mobile number as account identifier
- Bill payment management for various merchants with automated reminders for due dates
- Global remittance acceptance through partners like Payoneer, Wise, and Western Union
- Ability to link bank accounts for easy fund transfers into the NayaPay wallet
- Mobile top-up options for various telecom providers, including prepaid and postpaid bundles
- In-app chat feature to add notes to money transfers, share media, and use stickers
- Real-time transaction tracking with detailed history and instant push notifications
- Security features including fingerprint/Face ID or MPIN verification, PCI DSS, and ISO 27001 certification