Funding
Funding not disclosed
Founders
Product
Problem
Africans often face challenges when trying to make international payments due to currency exchange restrictions, high transaction fees, and limited access to foreign payment methods. This makes it difficult to access goods, services, and educational opportunities from overseas.
Solution
PayHelpa is a peer-to-peer platform that connects users who need to make international payments with "Helpas" who can facilitate those transactions. Local users deposit Naira into their PayHelpa virtual account and connect with foreign users ("Helpas") who can make payments on their behalf via Zelle, PayPal, Cash App, or credit/debit card. Once the local user confirms the transaction is complete, the Helpa receives the Naira. This system allows users to bypass traditional currency exchange processes and access international goods and services more easily.
Target Audience
PayHelpa targets individuals in Africa, specifically Nigeria, who need to make international payments for education, property, online shopping, car purchases, travel, healthcare, and other services, as well as foreign users who need access to Naira.
Features
- Virtual accounts for secure Naira deposits and transaction management.
- Peer-to-peer matching to connect users needing to make international payments with users who can facilitate them.
- Support for various international payment methods, including Zelle, PayPal, Cash App, and credit/debit cards.
- User-defined exchange rates, allowing users to set their preferred rates.
- Dispute resolution mechanisms to ensure fair transactions.
- Identity verification to prevent fraud and ensure user safety.
- Mobile accessibility for on-the-go transactions.