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New global payment platform in the offing

BY: Graphic Business
James Reinhold
James Reinhold

A payment platform to facilitate money transfers at affordable rates in all currencies will soon be launched.

A media release issued in Accra said ‘GenioPay’, will provide multiple and flexible pay-out channels, including mobile money transfers; an array of payment tools for merchants and SMEs; utility services; escrow and school fees services; migrant transfers and much more.

Founder and CEO of the company, James Reinhold, said the company’s flagship product, SMSPay, will bring financial services to over 1.5 billion people around the world without a stable internet.

He said that with GenioPay’s technology, clients can actually perform cross-border payments without the internet powered by A.I technology not USSD.

“The foundation of GenioPay is built on the premise that transactions continue to be high and according to the world bank over $30 billion is lost a year by migrants alone in ridiculous fees.

“We consider ourselves as a company that understands customer pain points built around the singular idea of localising international transactions,” Mr. Reinhold said.

Therefore, the company looked extensively at a lot of payment solutions but none addresses the ultimate needs of forward-thinking global clients. Thus, the creation of GenioPay – a distinctive alternative to redefine how cross border payments are done.

A secured link is sent to the recipient, and based on their location can withdraw the received funds through the 50+ pay-out channels including mobile money.

The fast and secured cross-border payments covers different payment schemes: European Payments (sending money to recipients in European and most especially for Single Euro Payments Area (SEPA) regions; and International Payments (sending payments through SWIFT, among others).

Commenting on how safe and secure the GenioPay payment platform is, Mr Reinhold said all relevant security requirements have been met using modern technology.

“Our team has relevant experience in financial security requirements, using the latest techniques and approaches in data security. We have a well-designed architecture that ensures reliability and security,” he said.

He further stated that plans are on course to establish offices across Africa, with Ghana set to be the headquarters of the continental branches.

 

Background

Registered in United Kingdom, Lithuania, Poland and Estonia, GenioPay, according to the Founder and CEO of the company, James Reinhold, will provide multiple and flexible pay-out channels, including mobile money transfers; an array of payment tools for merchants and SMEs; utility services; escrow and school fees services; migrant transfers and much more.

The sensitive data of our customer is replaced with a code (encryption) or generated number (tokenization). We restrict access to databases depending on users' relationship to the organisation. This way we limit ordinary employees to access corporate information, reducing internal threats.

Other solutions we implement are precise authentication technologies, such as the One-TIme Password system (OTP). Additionally, we are using a tracking system in order to analyse user behaviour and detect suspicious activity. Also, we test our platform for any potential leaks and breaches.”

He further stated that plans are on course to establish offices across Africa, with Ghana set to be the headquarters of the continental branches.

The GenioPay app, the Founder and CEO added, will soon be available on Play Store, App Store, and Huawei Store.