Features & benefits
Digital banking financial inclusion
Digital wallet allows individuals to replicate their physical wallet holding cash and other payment cards (including virtual cards, rewards and vouchers) as well as link their bank accounts for transferring money. A physical card can be linked to the wallet allowing purchasing at the POS and withdrawing cash from ATMs.
Mobile wallet management
Simfonie manages mobile wallet accounts for individuals, agents, and merchants. Float and Mirror accounts are maintained internally or with a bank conforming to regulatory requirements.
Agents are registered in Simfonie to provide cash-in, cash-out, airtime top-up, and other financial services to individuals. They earn revenue from service charges and commissions. Bank accounts and cards are used as payment instruments.
Businesses interested in offering bill payment are registered as billers and have an option to present bills in bulk. Mobile wallet users can register for bills, register payment arrangements, schedule payments, and pay bills anytime anywhere.
Simfonie supports national remittance through an agent conforming to AML, CFT, and local regulatory requirements. Remittance is supported through an external remittance company, for example Western Union.
Individuals can use the mobile wallet and other payment instruments associated with the mobile wallet to pay merchants and purchase products.