Money Q Fintech Solutions brings E-Wallet & Remittance services to Africa

By Gloria Methri

Dubai-based start-up Money Q Fintech Solutions Ltd. has announced plans to expand its services in Africa with its semi-closed loop digital wallet KrosPayz, and international money remittance system, KrosRemit.

Founded in 2020 by CEO Amit Shrimali, Money Q aims to empower African citizens by providing them with access to essential financial services through digital means.

Money Q’s digital wallet offers a range of services, including domestic and international airtime top-ups, utility bill payments, QR code payments, remittances, domestic transfers, microfinancing, and more. This expansion will enable millions of Africans to enjoy the convenience and benefits of going digital, bridging the financial inclusion gap.

As part of its expansion into the African market, Money Q is acquiring a company with an existing license to operate the wallet in Malawi, which is expected to go live this year. A partnership agreement with a licensed entity in Botswana and Seychelles has also been completed, paving the way for the KrosPayz wallet to be launched here by May/June.

Additionally, Money Q has completed integration with an international aggregator for providing bill payment services for nearly 11 countries and mobile top-ups for 165 countries. It has also completed integration with Cellulant, an African-based aggregator, for bill payment and mobile top-up/recharge services in approximately 14 countries.

Money Q has developed KrosRemit, a remittance platform, integrated with leading Money Transfer Operators, currently being deployed in Malawi. The platform now has access to almost 600+ mobile wallets in Africa and 100+ countries for remitting money into Bank accounts which include SEPA countries and transfers to the USA.