Funding
Funding not disclosed
Founders
Product
Problem
In Congo, many individuals and SMEs lack access to convenient and affordable banking services, hindering financial inclusion and economic growth. Traditional banking often involves complex requirements, high fees, and limited accessibility, particularly for those with low incomes or in remote areas.
Solution
Onyfast provides a mobile banking platform and VISA card designed to improve financial inclusion in Congo. The Onyfast app allows users to create an account and obtain a virtual or physical VISA card within minutes, regardless of income level. Users can make payments via QR code at over 150,000 merchants in Congo, transfer funds to other Onyfast users or mobile wallets across Africa, and make international transfers via SWIFT. Onyfast also offers services such as savings accounts, check cashing, and access to credit, including interest-free loans for salary payments to partner companies.
Target Audience
Onyfast primarily targets individuals and SMEs in Congo who are unbanked or underbanked, including low-income individuals, entrepreneurs, and businesses seeking accessible and affordable financial services.
Features
- Mobile application for account creation, management, and transactions
- Virtual and physical VISA cards for online and in-person payments
- QR code payment system for purchases at participating merchants
- Instant transfers to other Onyfast accounts and mobile wallets
- International transfers via SWIFT
- Savings accounts (individual and group)
- Check cashing services
- Access to various credit options, including interest-free salary loans for businesses
- Fee structure with transfers at 1.5% and fixed payment fees of 50 francs
- Customer support via a dedicated phone number