GoMoney, a financial service app that helps users spend better has announced its official launch into the Nigerian market.
Designed to address the needs of a diverse group of people, GoMoney helps its users spend better by understanding their spending habits and using it to help them form a better relationship with money.
Speaking about the app, the GoMoney team say it was built to enhance and improve the banking experience for their customers. It has been set to simplify and reduce the cost of transactions.
“GoMoney was built to provide customers with an enhanced and improved banking experience. We aim to make adequate, reliable banking services accessible to all. By doing this, we are set to simplify payment processes, reduce the costs of transactions, and bring a community-based approach to banking.”GoMoney Team
GoMoney provides the features of a bank account, without the hassle and disappointment of failed transactions, unfair charges or needless paperwork. It accommodates people that may not maintain a bank account but handle money on a day to day basis.
All transactions can be done through multiple channels; phone numbers, payment links, nearby payment or in-app transactions. As individuals or as groups, GoMoney enables users to schedule payments, split costs and monitor transactions.
GoMoney’s unique features
In the Nigerian financial service market, GoMoney will have to compete with platforms like Kudi, Alat or Piggybank. However, the GoMoney app has some few unique features that could give them an edge in the market.
Although scheduling payments is not new, the app’s Payment Scheduling feature allows not only individual users but also groups to automate recurring payments for later dates. This could attract SMEs to the platform.
Also, using the Expense Tracking feature, users can track exactly how they spend their money, information on all transactions done through all the channels are recorded and monitored. Allowing users to iterate for future expenses.
The app’s Nearby Payment feature is perhaps the most noteworthy as users can pay other users around them without having any details such as phone numbers or account numbers. This especially comes in handy for one-off payments.
The app is inclusive and is especially beneficial to people who do not currently have access to traditional banking.
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