Leatherback launches money transfer app for Africans in the diaspora
Leatherback App
Picture a world where sending money across borders is as easy as sending a text message. That’s right, no more endless paperwork, no more exorbitant fees, and no more waiting for days before the funds land in a recipient’s account. Sounds like a dream, doesn’t it? But what if this isn’t a dream anymore, but a reality fashioned by Leatherback – a dynamic tech player, changing the stressful modalities of cross-border payments into simple and accessible modalities, for Africans across the globe. And Leatherback just launched a mobile app designed to turn this dream into a practical, everyday convenience for students, medical migrants, remote workers, freelancers, parents, and business owners.
Leatherback, a cross-border payment platform founded in 2019, simplifies cross-border payments for Africans by providing remittance and multi-currency solutions for everyone to send and receive money quickly without restrictions. Inspired by the Leatherback turtle, the CEO and Co-founder, Toyeeb Ibrahim, imagined a world where money could travel as freely and easily as the Leatherback turtle did.
The Leatherback turtle is the largest and most migratory of all sea turtles, spanning multiple continents. The leatherback turtle swims around the globe, crossing the Atlantic and Pacific Oceans and travelling across Alaska, Norway, New Zealand, South America, and South Africa. It spans borders and is resilient enough to withstand vast temperature changes. Unlike that turtle, money cannot travel as freely. Challenges such as location, exchange rates, finding trusted finance partners, high transaction fees, and many more hinder people from attaining their desired lives. Then came Leatherback – the solution.
Like that turtle, Leatherback Finance is resilient and borderless. It aims to provide everyone with access to services that enable them to become genuinely global, experiencing the taste of absolute financial freedom.
Leatherback understands the pain points of cross-border payments and has worked tirelessly to develop a mobile app that allows everyone to instantly send and receive money in any currency of their choice. Students can pay tuition fees, migrants can use the Leatherback app to sort out their payments, and remote workers and freelancers can also use the Leatherback mobile app to get paid in any currency they choose.
Leatherback App Features:
The Leatherback mobile app boasts a sleek, intuitive, and easy-to-navigate interface, designed with the end user in mind. The straightforward onboarding process allows users to create an account in two minutes, eliminating the tedious paperwork. Notably, the Leatherback mobile app has a range of features that ensure a streamlined and secure currency transfer experience. Key features of the app include:
• SendR: A Leatherback remittance product that enables individuals to send funds in their local currency, and the beneficiary will instantly receive the funds in the currency of their choice, be it in NGN, ZAR, TZS, CFA, XAF, XOF, GHS, GBP, USD and many more.
• Multi-currency account: Individuals can own a multi-currency account to quickly process transactions, and deposit and withdraw funds in various currencies. Interestingly, users can transfer funds between sub-accounts or convert currency as needed, often at a preferential exchange rate compared to regular currency conversion fees.
• Daily rates and negotiation: Individuals in the diaspora can access daily rates for each currency and negotiate the rates that suit them. Their negotiations are considered, while Leatherback ensures the offered rate works.
• Instant transfers: Through advanced technology and strategic partnerships with banking networks, Leatherback enables instant fund transfers, empowering recipients with swift access to funds when needed.
As part of its commitment to cross-border payments, Leatherback is authorised by notable regulated bodies to ensure that the Leatherback mobile app is accessible to users in Nigeria, Ghana, Cameroon, Tanzania, and other African countries. This inclusivity aligns with the company’s mission of creating a global community where barriers to financial transactions are dismantled.
Toyeeb Ibrahim, CEO of Leatherback, expressed his excitement about the app’s launch, stating, “We are proud to introduce our mobile app to empower Africans in the diaspora by providing solutions tailored to their cross-border payment needs. We love the idea of accessing 15+ currencies and transacting across 21 countries on the go, without physically visiting a bank”.
Leatherback’s mobile app represents a significant step towards a more interconnected world, where financial barriers are torn down, and individuals have the power to connect, support, and thrive across borders. In addition to focusing on efficient remittance services, Leatherback plans to integrate additional financial solutions in the future, further solidifying its commitment to providing individuals with the fastest cross-border payments.
To get started on the Leatherback app, download the app on Play Store and App Store. Visit www.leatherback.co to learn more.
Africa.businessinsider.com
