The GloCash payment app, which is designed to make it much easier for Africans to send and receive cash, is now on BETA and available for limited download to Android devices – an iPhone model is also coming soon, according to GloCash Founder Ephrem Lijalem.
The introduction of this app is welcome news to many in Africa where a lack of infrastructure, including banks, currently makes it difficult to move money between citizens, particularly citizens in different countries of Africa.
In fact, according to QuartzAfrica.com, Africa currently “has the highest remittance costs in the world.” Despite those costs, World Bank reports that remittances in sub-Saharan Africa grew to $37.8 billion in 2017 and are forecast to hit $39.6 billion in 2019.
GloCash is a fun digital wallet application that lets users send and receive cash instantly using only a phone number.
Currently, users can use it to request funds or pay others in 8 African countries – South Africa, Nigeria, Kenya, Ghana, Rwanda, Tanzania, Uganda, and Cameroon.
The App’s developers have plans to eventually expand globally as well as to make it possible to use the app to make purchases at select merchants in Africa (and eventually around the globe).
GloCash is a revolutionary app that has integrated the APIs of 8 countries in Africa into one convenient easy-to-use platform. Now regardless of what mobile money provider or bank a user has, they can complete a financial transaction in any currency instantly with GloCash.
“There is no service like this in Africa that allows you to send and receive cash instantly from the convenience of your mobile phone,” Lijalem said. “There are a few companies that provide limited payment gateways but they are nothing like GloCash.”