AlgoPay Launches Borderless Payment Solution for Businesses in The Middle East
Banks are great because they keep safe your money for you. However, they’re not always accessible. Doing bank transactions can be a pain as they’re time-consuming and can even be very frustrating. And if you need to do any transaction abroad, expect to shell out a decent amount.
LA-based, e-wallets like AlgoPay offer alternatives to traditional banking. AlgoPay enables the unbanked in the Middle East to safely store their money online and access it in any country. They’d let you store money securely through their system, making banking transactions simpler and more accessible to you. Instead of heading to the bank, you can now do your transactions online, saving you from a lot of hassle.
Since 70% of the region’s population have limited or even no access to financial services, AlgoPay has seen the need to help improve the general public’s situation. There are lots of issues in working with cash exclusively, so there’s a pressing need to address this issue.
How, you might ask? As an e-wallet service, AlgoPay provides online banking and cashless payment services to the public. They let users safely store money into their system, saving them from having to turn to a bank for similar services. They work with local businesses to provide ATM-like services, simplifying their customers’ banking needs. Their services also work as a digital card so users can make online purchases, transfer money, and do other banking transactions online without too much fuss.
AlgoPay is an app with functionalities that are similar to an online banking account. You can accept payments through it, send money to others, and use it to purchase products online. Its biggest charms, however, are its partnerships with UpWork, the biggest freelance website, its affordable money transfer fees, and its accessibility anywhere on the planet.
With its partnership with UpWork, those who use the system to get freelance jobs can now just get paid through AlgoPay. This makes things simpler and faster as there won’t be any downtime for your cashouts to get processed.
Cheaper money transfer fees are also a plus as it can be costly to send money locally and abroad. And the fact that you can use this service anywhere makes it more economical than traditional banking services.
So if you’re not a big fan of traditional banks, AlgoPay might just do the trick for you.
Founder, Editor-In-Chief // A native Angeleno. John studied engineering at UCLA; founded Schmoozd, an offline social tech networking event in LA with 30,000 subs; ran a startup accelerator (StartEngine). Worked for several major brands like Toyota, DIRECTV, Hitachi, ICANN, and Raytheon. A mentor at Loyola Marymount University (LMU) Entrepreneur School, Dr. David Choi. And advises a dozen local LA startups building amazing tech in various industries; and invested in some. // Let's Connect: john@lastartups.com
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