Presenter: Tawanda Kembo, CEO, VirtualBank Africa
VirtualBank Africa has two products. Our flagship product, a remittance solution, makes it more convenient for Africans working in the diaspora to send money back home, at the same time reducing the cost of doing so to zero. We do this by providing the local recipient of the remittances (i.e. money sent from a foreign country) with a prepaid card, which can be funded from any supporting bank in any country. Our second product makes it easy for anyone to start collecting payments on their website no matter what they are selling. This is particularly useful in the African market where e-commerce is relatively young because most countries there do not have payment gateways.