A local financial technology (fintech) solution called Cash Chat, a
digital and social network mobile application developed by Bold Cashers Limited, a
Ugandan technology company, has arrived on the market with over 20, 000
Ugandans accessing the much needed financial freedom and social media
experience like they have never known before.
The Cash Chat mobile app, the first if its kind in Uganda,
is powered by PesaMoni, a
global payment gateway. Over 400, 000 global users have signed up on the mobile
app.
Mr.
Edgar Ofoyuru, the Products Designer at Bold Cashers
Limited, speaking at a press conference held at Eureka Place Hotel in Kampala
on Thursday said the Cash Chat mobile app which has been in development for two
years helps users to transfer money, advertise products, chat with people in
their phone contact list and professional networks, upload statuses and make
voice and video calls
“The Cash Chat mobile app is unique in a way that you can
chat and promote something you are interested in through a new business dimension
that involves advertising on the mobile app. As a designer and technical
division team, we have focused more on providing a good and unique user
experience,” Mr. Ofoyuru
stated.
“The app is easy to use once you have finished downloading
it from Google’s Play Store and installing it in your gadget. All you do is
register to open and activate your account normally like with any other
platform you have seen before but our messaging, chatting, making audio and
video calls, uploading statuses all come in a unique way. And with Bold Cashers
we have added financial features that enable you the user to transfer money as
you chat with your people,” Mr Ofoyuru remarked.
The App, now available on Google
Store and will be available on Apple Store in the next six
months, and integrated with Bold Cashers, provides customers with a digital
wallet (My Bold Cashers Bank) that gives them access to their savings and key
financial transactions like buying airtime, paying for utility bills, sending
and receiving money and depositing money to save.
The Chief Executive Officer of Bold Cashers Limited and
developer of the Cash Chat mobile app Mr. Asher Namanya Asanasio says that this
is the start of an ambitious attempt to make Africa go cashless. Mr. Namanya, speaking at the same press
conference, said they are working with the leading telecommunication companies
and commercial banks in the world, Visa and MasterCard to enable Cash Chat
users access their money anywhere in the world.
“We are an authentic company that believes that the future
of developing countries like Uganda and others in Africa is in investing in
technology and in innovations like Cash Chat mobile app. We are facilitating
the process for Africa to become cashless. We are looking at having a unified
one stopover product where you can be able to chat, transfer money and many
other things. Our vision is to connect the world through financial technology
and social media,” Mr. Namanya told journalists in Kampala.
“The Cash Chat mobile app has a Bold Cashers wallet in
the chat that enables users to transfer money to their Airtel and MTN mobile
money accounts, from their wallet to other users’ wallet anywhere in the world,
carry out airtime top-up, withdraw money, pay bills, make savings, share
sponsored ads-to all users and chat with friends and in groups of up to 1000
members instantly,” Namanya said.
Mr. Namanya explains that with a vision
and mission to connect the world through financial
technology, the focus now is that mobile phone and social media users must do
more than chatting but also have access to different financial liberating
services like savings and earning through targeted advertising.
“We want to make communication and money transfers easy
and affordable as compared to prevailing financial solutions mainly provided by
commercial banks and telecoms. The Cash Chat mobile app gives you that
advantage to access all services in one stopover without moving away from where
you are as social media users and consumers. It gives you a privilege to access
different services and still remain in the Chat,’’ Mr. Namanya noted.
Mr. Kenneth Kimuli also known as Pablo, a Ugandan celebrated
comedian, who is the Cash Chat mobile app brand ambassador, explained at the
press conference that Bold Cashers is planting two trees with one seed.
“If you have noticed, people today literally move with
their phones in their palms; this means that mobile phones are driving people’s
lives. And at Bold Cashers we thought of how we can help them live a productive
life instead of them talking about everything and saying nothing,” Mr. Kimuli
noted.
“On Cash Chat, you can chat and still make money and as
you know, online business is the way to go. Cash Chat helps when it comes to
online business in terms of shopping and saving. The plus is you can multitask
– you can run your business on your app and socialize,” he added.
Bold
Cashers Limited, the parent company of Cash Chat mobile app,
is well aware of the cyber security concerns and why protection of people’s
data is a serious issue in the fintech business and has therefore put in place
strong security measures to guarantee safety of customer data, money and
privacy.
“The safety of our customer data and privacy is paramount.
We have put in place all security measures required for this type of business
and we have been approved and certified by National Information Technology
Authority (NITA-U). We
have the greatest certification on PCI SSC (Payment Card Industry Security
Standards Council), a technology that ensures users security and safety of data
worldwide,” Namanya said.
About
Cash Chat
Cash Chat is a worldwide Social Media and financial
technology app that enables and gives users ability to chat, talk and earn to
have financial freedom in the same platform. It helps businesses, companies and
individuals to have targeted Ads on Statuses where users post their status.
About
PesaMoni Limited
PesaMoni Limited, founded by Asher Namanya Asanasio (CEO),
Andrew Angulo (CTO) Susan Gimono (Corporate Business), was incorporated as a
company under the laws of Uganda and Kenya in 2016. From then, the company has
been innovating and continues to innovate demand driven technology solution
that address the needs of digital communities.
PesaMoni is a global financial technology platform that
facilitates payments, enables money transfers from wallet to wallet, mobile and
bank. The company’s main goal is to replace mobile money platform and be the
best option for consumer money Transfer Company all over the world.
PesaMoni has operations in both Uganda and Kenya.
We will are currently reviewing the Cash Chat app and we shall share our experience with the app.