By Prince Okafor
GoMoney, a mobile financial service, has announced its official launch into the Nigerian market. It was designed to cater to the needs of a diverse group of people; to help users spend better, understand their spending habits and form a better relationship with their money.
According to the GoMoney team, “GoMoney was built to provide customers with an enhanced and improved banking experience. We aim to make adequate, reliable banking services accessible to all. By doing this, we are set to simplify payment processes, reduce the costs of transactions, and bring a community-based approach to banking.”
One of the goals of GoMoney is to create a positively intimate banking experience. It is changing the face of traditional financial services in Nigeria by providing secure, transparent and honest banking. The GoMoney team explains, “We are building an inclusive product that provides the features of a bank account, without the hassle and disappointment of failed transactions, unfair charges or needless paperwork.”
Given that Nigeria’s current financial environment is littered with restrictions, GoMoney indeed offers its users a refreshing monetary experience. Not only does the app gives users full control (within regulatory guidelines), it also affords them the ability to send and receive payments from anyone – regardless of where they bank. As individuals or as groups, GoMoney enables users to schedule payments, split costs and monitor transactions.
Some of the other unique features of the app include the Nearby Payment, Payment Scheduling and Expense Tracking features. With the Payment Scheduling feature, users can automate recurring payments for later dates. Also, using the Expense Tracking feature, users can track exactly how they spend their money and iterate for future purposes.
With the Nearby Payment feature, GoMoney users can pay other users around them without having any details such as phone numbers or account numbers. This especially comes in handy for one-off payments. All transactions can be done through multiple channels; phone numbers, payment links, nearby payment or in-app transactions.
The GoMoney team has created a platform that significantly improves and deepens customers’ understanding of their spending habits. They have done this by building a secure and reliable core system from scratch, based on modern technology stacks.
GoMoney aims to serve a society that may not maintain a bank account but interacts with money on a day to day basis. Through the services GoMoney provides, the team is fostering a truly inclusive financial services practice, one that serves everyone—including individuals who do not have access to traditional banking.