Rexial builds payments infrastructure in Africa to automate recurring collections for businesses. The platform connects directly to customer bank and mobile money accounts, enabling paperless direct debit for services like rent, utilities, and loan repayments. This automation ensures timely payments, reduces collection costs, and improves cash flow for merchants.
Funding
$520K 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.
Founders
Product
Problem
Many businesses in Africa face challenges with recurring payments due to reliance on manual processes and the complexities of dealing with diverse payment methods like bank transfers and mobile money. This leads to inefficiencies in cash flow management and unpredictable revenue streams.
Solution
REXIAL offers a unified API that automates the collection of recurring payments directly from customers' bank accounts and mobile money wallets. This enables merchants to streamline their payment processes, improve cash flow predictability, and reduce the administrative burden associated with manual payment collection. The platform provides a secure and reliable infrastructure for managing direct debit mandates, validating transactions, and ensuring seamless payment execution. REXIAL's solution empowers businesses to focus on growth by simplifying and automating their recurring payment workflows.
Target Audience
REXIAL primarily targets merchants in Africa who require a reliable and automated solution for collecting recurring payments from their customers, as well as banks seeking to scale their direct debit workflows.
Features
- API for integrating direct debit functionality into websites and mobile applications
- Support for both bank and mobile money accounts
- Flexible direct debit setup options, including fixed amount, fixed date, variable amount, and variable date
- End-to-end straight-through direct debit processing integrated with the ACH
- Secure APIs for developers to integrate direct debit functionality
- Tools for creating accessible user experiences for recurring payments
- Bank DirectDebit API for banks to process transactions