![]() Sealing deals with these partner institutions has been a hassle. This model makes it so that Flick would have to partner with multiple financial institutions to deliver its solution to customers. Because Flick is data-driven, customers can from one single platform see all their financial data, their credit history, monitor their spending patterns, revenues made and even access quicker credit through our partner banks and fintech,” Olojede added. “The great part is, it’s not just payments. And Flick payments are ninety-nine per cent reliable and much more convenient,” she said.īecause Flick aggregates customer accounts into a single channel, “business can get instant settlement into any bank account” through the platform. ![]() Meaning with Flick, customers can make payment within seven seconds when compared to the industry average of 23 seconds. What we’ve done at Flick is to integrate the banks through open banking, and allow users to aggregate their accounts in order to speed up payments. We are building a solution to make payment simpler and faster for people. “Typically we like to say we’re building Paypal for Africa. So how will Flick, billed as the Paypal of Africa in PR materials, solve the problems of delayed transactions by bringing them together in a single location? People just need a way to pay simpler and easier from these bank accounts,” she added. “That is why Nigerians like you and I have about three to eight different bank accounts, just to mitigate the risks of payment failures or delays. ![]() “Businesses receiving payments across Africa lose customers amassing to thirty-two billion dollars in revenue loss annually.” Businesses are losing customers because of this failure of quick and easy transactions. So we decided to solve that by creating Flick and just making it easier for people to pay,” she added.Īnd this waste emanating from failed transactions is not just happening in Nigeria alone or in loss of transactions. Either that is POS declines or bank transactions delay. “And because of this, customers waste cumulatively three thousand hours daily resolving payment disputes.
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