Fintech is undoubtedly the most bubbly space in African tech. New fintechs come into the market virtually on a weekly basis, but perhaps the bane of the industry is repetition. It’s not uncommon to see tweets of people voicing out how they “don’t need another payment app to buy plantain”.
Enter Tribapay. Tribapay is a fresh approach to payments. It’s as useful as it is buzzy.
At the very base of it, Tribapay works like a digital wallet. You will get a bank account, you can send money to any bank, you can buy airtime, pay DSTV, GOTV, electricity, buy data on Spectranet, Swift etc.
But on top of those basic features come some incredible ones. These are the features that stand it out from the crowd.
Imagine Tribapay were a Pizza; all the basic features are the bread or dough, then the special features are the toppings. It’s because the toppings can’t stand alone without the dough.
One of the selling features that has attracted thousands of people to the app in just one week of launch is its unique product called the Cashpin or Tribapin. It completely unlocks a new way to send money P2P that hasn’t been explored before now.
“If I wanted to give you money, I would simply ask you for your account number and send the money there because I know you. But what about when I don’t know the recipient?” , says Bolu Oluwagbesan the CEO of the newly launched payment company.
“There are many use cases for when you don’t know the recipient. Cashpin solves that problem.” Bolu says.
Cashpin is a secure way to convert money into a 12-digit pin, such that it can be retrieved by the fastest fingers. The same way airtimes had scratch card numbers that if inputed, would become real airtime, Cashpin emulates that, but for real money.
For example “814251242854” is actually a Cashpin worth N20k. For you to receive it, you need to download Tribapay and then go to “Redeem Cashpin”. You’d immediately type that number and you’d get money. REAL MONEY.
The second selling feature is Airtime-to-Cash. People who have excess airtime at any point in time can come to the app to trade the airtime for real money. Whether they made a mistake with too much recharge or they were gifted airtime and they’d rather have cash. Tribapay buys from them 24/7.
The app also allows people to send money P2P with emails – just like PayPal.
And it occasionally sells airtime at a discount; sometimes up to 10% cheaper than the value the customer gets.
Here’s a video of the full launch event – https://youtu.be/GR1xQxsXLqY
About Tribapay
Founded by Anu Oguntoye and Bolu Oluwagbesan, Tribapay is a Digital Wallet with completely unique features. Our goal is to create financial opportunities & innovations for the 1 billion+ people in Africa