In the last couple of years, Nigerians and other African countries have moved from barely surviving the impact of Covid-19 to the plummeting price of dollars which is affecting our everyday life. On top of that, the cashless policy introduced by the Central Bank of Nigeria to drive a financially inclusive economy has made it compelling for fintechs to introduce a simple, fast, transparent, and sustainable payment solution to lessen the burden of over dependence on payment infrastructure to drive financial services across all facets of the economy.
In June, 2022, Instance, (Registered as Fuspay Inc., Delaware, USA) raised an undisclosed pre-seed amount from Pacer Venture, a Canadian VC firm led by Domineum Blockchain Technology, UK. The aim is to deliver a product that will give the Africans ability to perform Within-African Trade through a single app.
The CEO of Instance, Charles Avis noted that the challenges faced by Africans recently on the adoption of alternative payments and instant access to payment services shows the intensity of how many are looking for alternative and stable financial products that will allow them to transact seamlessly. Beyond that, they are looking for a way to hedge against the current and ongoing inflation.
Instance is an all-in-one fintech platform dedicated to facilitating global financial inclusion by connecting all wallet providers together to create a more inclusive global payment ecosystem. According to an internal memo of Instance issued by Abiola Jimoh, Head of Business Growth, the company is highly excited to announce the launch of its product called “Instance App”.
Some of the key features of Instance include:
Faster transaction speed
With Instance, users can enjoy faster transaction speeds compared to traditional banking systems, ensuring that transactions are completed quickly and efficiently.
Cheaper Transaction Fees
Users can save money on transaction fees when using Instance, making it a cost-effective alternative to traditional banking services.
Access to 15+ Currencies
Instance allows users to access over 15 currencies, making it easy to manage money across borders and avoid high exchange rates.
Create Digital Currency Wallets with Ease
With Instance, users can easily create digital currency wallets and manage their digital assets securely.
Perform limitless transactions across borders: With Instance, users can easily send and receive money across borders without worrying about high transaction fees or currency exchange rates.
Pay with NFC cards anywhere in the world
With Instance, users can easily pay for goods and services anywhere in the world using NFC-enabled cards, ensuring a seamless and secure payment experience.
Secure payment processing
With the Instance App, users can easily accept payments and process transactions securely, thanks to the platform’s robust security features.
Instance seamlessly integrates with a wide range of financial tools and services, making it easy to manage all aspects of your financial life from one place.
“We’re thrilled to introduce Instance to the market,” said the CEO.
“Our team has worked tirelessly to create a product that delivers exceptional value to our users. With Instance, we’re making it easy for users to perform limitless transactions across borders hassle-free.”
The Instance app launch has since been featured in prominent media houses including TechCabal.
Instance is available for download on iOS App Store and Google Playstore.
For more information about the product, click HERE