Wafi, a startup founded by former Plaid product lead Victor Umunze, has launched its payment processing platform for e-commerce businesses.
Wafi.cash promises to provide online sellers with a simple API to enable fast, secure, and cost-effective processing of bank payments.
The platform is designed to eliminate redundant entities in the payment processing flow, reducing payment processing fees by over 50%, says Wafi, while helping users earn up to 0.75% cashback on purchases.
Wafi also helps reduce payment failures and cuts fraud thanks to its 2FA and propriety detection technology.
Says Umunze: "Wafi.cash opens businesses to new payment opportunities and allows them to take advantage of the shift in consumer behavior towards cash spending online and offline, while providing a fast, secure, and cost-effective solution."