Fincra —All you need to know about Local and International Payment Platform
With increasing brands and services storming the market annually, financial technologies are fast becoming one of the biggest industries in Nigeria today. It is simple to comprehend the value and immense impact financial technologies are adding to businesses and the economy of the country at large value.
In today’s world, numerous e-commerce businesses utilize the services of payment processing companies to ensure the execution of transactions and the efficiency of operations.
Fincra is a global company, taking the industry by storm with their world-class services in cross border-payments, top-notch payment processing, and even B2B cross-border payments.
It’s obviously true that organizations, fintech, and startups with activities in Africa frequently face hardships with development across borders because of the difficulties and vulnerabilities related with the customary installment techniques and limitations that baffle African exchanges or payment across border in Africa . Fincra fills in as the goal to Africa’s strange installment foundation.
Fincra is one of the as of the Fintech organizations with a dream to just make a world, where movement of cash is real time, and as simple as messaging. Also, the organization means to make it simpler for Africans and other arising or wilderness markets execute carefully, other emerging or frontier markets transact digitally fast, at low cost and high speed of transaction , with the rest of the developed world.
In this article, I will give a complete review of Fincra, its services, answers to frequently asked questions, benefits of using the product and much more.
Based on the company’s website, Fincra provides payments solutions that enable you to accept payments securely, make payouts globally, and scale your business across border easily. They brand themselves as a payment Infrastructure Company in Africa with the goal of revotionalising the financial and business sector in Africa.
In my terms, Fincra is a secure and reliable payment infrastructure that provides seamless solutions for international and local payment collection and transfers to fintech, online platforms, and global businesses. With its simplistic nature, Fincra provides payment solutions for various sectors to securely accept payments, make payouts globally and sell across borders -All as easy as a text message.
Fincra has revolutionized payment processing in Africa, giving businesses a new and reformed experience. They have made it a point to eliminate payment processing issues most businesses encounter with traditional methods.
The company employs the latest technologies in relation to innovative staff to ensure its product offers financial solutions to entrepreneurs, merchants, companies, fintech, and e-commerce, to accept payments securely, get settled, and move money across borders in multiple currencies.
Fincra aims to create seamless solutions for international and local transactions. Serving Africa and the globe at large with the support needed to scale operations of fintech, online platforms, global businesses, and more.
It’s a mass payout network that operates in seven currencies, including the United States dollar, Euros, Ghanaian shilling, Pound sterling’s, and the South African ZAR, across 100+ countries for domestic payments and international transactions to bank accounts and mobile money wallets.
Most people are aware of how hard and tedious it can be to make or receive payments for services abroad. This situation usually limits businesses to only local/domestic customers/businesses, denying them access to a much larger audience overseas. As a result, the growth of businesses are limited and are usually left to the mercy of traditional payment processing methods which are slow, expensive, and demanding
Individuals, entrepreneurs, merchants, and businesses across Africa use Fincra as a credible payment gateway to receive or send payments through their e-commerce platforms, websites, online stores, payment links, as well as invoices. These payments could involve business to business which are both located in different countries, as well as Business to customers.
Founded and based in Lagos, Fincra is dedicated to eradicating the burden of cross-border payment with the belief in the potential of Africa to become a leading business hub for other parts of the world.
According to the Founder, the core belief is to usher prosperity across the continent.
To achieve this status, Fincra is on a mission to set up an API infrastructure that connects all of Africa to the world. As a result, businesses from other continents can connect with businesses in Africa, and vice-versa. This simple yet important act hugely contributes to the growth and progress of the African continent, as it ensures greater efficiency of operation, improved performance, productivity, and reach to target markets. This way, you can easily do business and execute transactions with overseas customers in an easier, more effective way.
Who owns Fincra?
The founder and Chief Executive Officer of Fincra is Wole Ayodele, an innovative tech leader, and inventor. He possesses a vast experience in Fintech and tech product development and he’s been able to execute successful projects in this niche.
Wole Ayodele is a highly qualified, tech enthusiast who graduated with a degree in Mechanical Engineering at Covenant University in Nigeria. His experiences within the financial sector and tech industry led him to come up with solutions to help solve the numerous issues encountered by businesses and entrepreneurs when it comes to payment processing. His innovation led to the birth of Fincra.
“Fincra is removing the challenges associated with traditional payment processing methods by providing an integrated platform that puts revenue at the heart of every business operation,” said Wole Ayode in an interview. “The fact that we are providing a simple, secure, low-cost method of receiving and sending money allows businesses to scale across multiple markets.”
How reliable is Fincra?
When you think of trusted fintech brands in Africa, you call Fincra.
The Fincra team, also known as the “Fintribe” or “Avengers ” have a commitment to actualize their mission in making payments proceedings —either cross border or B2B cross border— in Africa, safe, fast and secure.
The team is readily prepared to expand their limits of knowledge, and continuously find new, innovative solutions to ensure that they reach the company’s desired goal.
This ensures the company’s ability to adapt to changing financial and technology trends, so customers enjoy the best products that favor their business.
With offices in Canada’s Toronto and Lagos, Kenya, Nigeria, the company offers merchants payment solutions that offers the options to accept payments securely, process global payouts in multiple currencies at a low cost with no hidden fees, and expand their business across borders.
Fincra is a platform that gives capacity to manage operations at scale. It offers an all in one payment solution to optimize services through a secure payment platform and API’S. Fincra is safely licensed with world class security and encryption.
Fincra’s products include:
Users can accept local and international payments fast and secure payment methods, such as NIBSS, SEPA, SEPA Instant SWIFT, FASTER, CHAPS and more.
Some features include:
- Move money across borders in multiple currencies securely
- Virtual accounts, in USD, EUR, GBP & NGN.
- Easy settlement unto wallets with no hidden fees and the headaches of international banking.
- Named bank account for seamless payment collections and receivables in business.
- Enable customers receive funds from send3rs in supported currencies without the sender having to sign up on the platform.
- Be assured of complete transactions with no delay.
Fincra offers fast payment collection with virtual accounts in EUR (euro), GBP (British pound sterling), USD (United States dollar) and NGN (Nigerian naira).
- Receive payments seamlessly from international customers in supported currencies.
- Volume based pricing to complete transactions without delay.
- Security and encryption to ensure that every data is safe from fraud.
- Integrate collections API into existing payment flows.
- Complete transactions at the best rates with no delay.
- Receive funds from customers directly to wallet in all supported currencies
Send money to bank accounts and mobile money wallets in KES, NGN, GHS, ZAR as well as EUR, GBP, and USD.
- Personalized customer service that allows you directly communicate with service,
- Seamless domestic payouts across 100+ countries in UK, America and Africa
- Fund your wallet and make fast payouts in 7 currencies across 100+ countries with no hidden charges
- Low rates and complete transactions without delay.
- Payouts transfer, payment can be made to bank accounts, mobile money wallets across 30+countries tries.
- Payouts one time, payouts to Beneficiary, payouts to self. Fill in the necessary fields. You can change from one currency to the other, Payout processing
API’s —application programming interface—enable companies to open up their applications’ data and functionality to external third-party developers, business partners, and internal departments within their companies.
Fincra offers easy to integrate APIs for developers and fintechs to build cross border payment functionality into their apps. The reliable infrastructure is designed to make integrations ad transactions seamless.
Payment APIs that are simple to integrate allow developers to innovate and fintechs to scale to their full potential, allowing them to provide their customers with the best cross-border payment offerings possible. These APIs are intended to reduce costs and assist in the rapid development of financial products. They are particularly well suited for businesses that make frequent payments, require flexibility, and require control
The API’s offered on Fincra are:
- Virtual accounts api: collect and receive payments in real time. Issue and manage virtual accounts from your app or website without the headaches of international banking,
- Payouts (transfer) api: supports cross currency and single currency quick transfer.
- Quote generations api : get real time rates for payouts in all supported currencies.
- Conversion api : currency conversions in supported currencies.
- Transaction management api: managing all customer transactions in one space.
- Wallet management: manage multi-currency wallet balances.
A product link is a way for you to sell a single product or service. If you want to sell multiple products at a time, you can use products on payment pages. A Product is a single item or service that your business sells. You can sell one product using Product Links, or sell multiple products at a time using Products on Payment Pages.
With a product link, you can view and manage your product orders, manage inventory, set up shipping preferences and also set what happens after a customer purchases a product.
This feature enables businesses increase their revenue by easily collecting payments and making selling faster. Customers can make payments seamlessly through transfers or their bank cards and the money will be settled your preferred destination—either your Fincra wallet or commercial bank account.
Developers or businesses owners can easily access this feature by embedding payment buttons on their platforms or creating shareable payment links from their dashboard.
If you have a website or have plans on building a website to push your business forward and collect payments, Fincra can easily be integrated
Their API’s have opened doors for non “techies” to easily integrate a payment platform into their websites. Fincra works with website builders like Magento, Shopify, WordPress, and ShopifyOpencart.
You don’t have to be a tech bro/ tech sis anymore, if you’re building a custom website with a developer, Fincra API is available for integration.
Can I use use fincra Without a Website?
Yes you can.
For those of us who just want to sell on our WhatsApp statuses, or Facebook pages without the costs of creating or running an e-commerce website, Fincra has made things a lot simpler.
After signing-up and activating your account, you have the option of creating Fincra pages, invoices and product links to collect payment online (without a website). This feature is perfect for Freelancers and small businesses.
How safe is Fincra?
As a recently established company, Fincra employs the latest security service and encryption which help protect customer information and data from theft, hijacking, hacking, and data loss. This payment gateway is well secured as its systems have the highest security certification level within the industry.
How does Fincra Work in Africa?
Fincra is a fast and simple way for entrepreneurs, merchants and business owners in Africa to get paid online from anywhere in the world. Setting up a Fincra account is completely free. You can sign up and start receiving payments in within 15 minutes.
Fincra charges a small percentage as a transaction fee whenever there’s a transaction on your account. Whenever businesses or customers pays you through this payment platform, the company deducts a fee. So they only make money when you do.
Just as the company doesn’t charge a fee for signing up. They don’t charge any fee for maintenance either. Once you integrate Fincra to your website or use its e-commerce tools, your customers can start experiencing fast, seamless payments from anywhere. Customers can pay through their Credit Card, Bank Account, Bank Transfer, USSD, Visa QR and Mobile Money.
Users are free to build custom payments experiences with Fincra’s well-documented APIs from simple projects, to complex financial and consumer products serving hundreds of thousands of customers with the platform’s well-documented APIs. These APIs allow you to build anything that you can imagine.
Asides receiving payments, other services you enjoy include:
- Collecting recurring payments (subscription & membership fees) from your app or website
- Making instant transfers
- Retrieving all your transaction and customer data
- Verifying the identity of customers
- Understanding exactly how your business is performing through analytics which include detailed reporting, alerts, and exports
- Seamless reconciliation
- Detailed reports on successful, abandoned, and failed transactions
- Granular user permissions that let you control the info each member of your team has access to.
Anytime customers or other businesses make payments to you through Fincra. You’ll receive your money automatically in your account within a short period
Is Fincra a Payment Gateway?
Yes, it is one of the leading online payment gateways in Nigeria and Africa at large. It ensures its users receive payments from anywhere across the world. Its products ensure that you enjoy a safe, fast, and efficient business operation through a unique service delivery.
Can I use Fincra for my Business?
While Fincra is used by individuals who receive money from across Europe, Africa, and the rest of the world, it is the perfect platform for businesses to receive payments as well.
How much does Fincra Charge per Transaction?
Fincra is a company that centers its products around its customers or users who are largely individuals, business corporations, entrepreneurs, merchants, and so on. Having this in mind, Fincra charges a fee for each transactions executed on your account. This fee is, however, subsidized to allow customers enjoy funds for business in a more fulfilling and satisfying manner. More funds means progress and growth for your business. If you want those, then Fincra is the payment processor for you.
Fincra offer the best rates ad only charge a small fee for payouts to bank accounts and mobile money wallets; there are no extra costs or hidden fees. Fees are determined by the payment method and the currency being charged for the collection.
Does Fincra accept dollars?
Users can accept international payments in Africa and the rest of the world through Fincra. As a result, Fincra accept payment in multiple currencies, ensuring your business can cover most countries from around the world.
Some of the currencies accepted by Fincra includes:
- Pound Sterling
- Ghanaian Cedis
- Kenyan Shillings
You can accept payments from international customers, from anywhere in the world. You can accept payments from internationally-issued cards. You can display your prices in USD, and also get paid in USD.
Whether you’re an established business looking to expand your borders, or a start-up developing an ecommerce website in need of a payment gateway, Fincra is the brand for you.
Visit their website to sign up for free and begin earning in multiple currencies.