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Geegpay EMI

yngmind

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Apr 26, 2020
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Has anyone had any experience with https://geegpay.africa ?

It seems like it's a new EMI for African countries, like Payoneer or Wise. They give US bank accounts in Wells Fargo and cards in USD, GBP, and EUR.

I saw it on youtube, some Nigerian guy is using it for his Paypal accounts.
 
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The site cannot be loaded at the moment. I’d say it's not the best option to use if you have outreach every now and then.
 
okay so they would need a professional webmaster for their professional banking I think rof/%

Thanks.
 
Anyway it was a smart move to create an EMI for 1.4B people continent who struggles with banking.
Yes; regardless of that I think they are neither alone nor the first. Just at this moment I recall Pyypl, e.g.

I wonder if they only accept Africans.
Yes, this can be an interesting information. Yet as far as I have checked their webpages, it seems to me that they are really on the beginning of the journey – so anyone who has some other option should probably wait a bit.
 
Yeah, it is all new to them so it may be better to wait and see how this is going to be.
 
You could reach out to their parent, www.raenest.com maybe they can onboard you?

But generally speaking from how I know Africa and their starup ecosystem, there is a huge demand for such services. About half of all startups are in this sector
https://www.straitpay.com/
https://www.korahq.com/
https://www.getflick.co/
to name a few. Their business in normally only focussed on the African market. I would say that pricing is not competitive with what we have in the western world. They know that and are focussing on selling there.

Most of the time, it works like the western neo banks. You take a couple of SDKs and combine a local KYC SKD with a payin/payout SDK and a face regogniser and then you have an app.

The Geeg and Raenest websites are incredibly buggy, Geeg does not even allow the country selection on Firefox.

The markets all have big issues with inflation and lack of paper money due to the inflation. ATMs are more often empty than not. Combined with ever changing government requirements, there definitely is a market, but I would not consider anything a long-term solution. It is nice to try the banks if you have fun, but probably not something you want to rely for a honest business with an operating period of more than a few years.
 
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