In essence, the collaboration aims to provide users with a secure platform for online transactions, managing deposits and withdrawals, paying bills, and handling money transfers in various currencies.
Metro Cable, known for introducing Sierra Leone’s first fibre optic broadband service, aims to enhance digital connectivity in the country. As for Velmie, it brings its expertise in financial technology to this project, aiming to offer innovative fintech solutions.
Vult offers both wallet and card functionalities. The Vult Wallet supports online transactions, bill payments, and shopping at Visa-approved locations, leveraging end-to-end encryption for security. The wallet's features include multi-currency management, allowing users to handle different currencies within one platform for smooth international transactions. Users can top up the wallet through multiple methods, such as linking bank accounts, mobile money, or Visa cards. Security is taken care of with end-to-end encryption for all transactions.
Additionally, the Vult Card, which can be used for both online and in-store purchases, provides similar security levels as the wallet. Vult Pay integrates with business applications to facilitate payments, cash management, and reporting. Vult Pay Point, a point-of-sale terminal service, enables secure payment collections and cash transactions for businesses.
In May 2024, Velmie announced a partnership with fintech company Unlimit. Through the partnership, Velmie clients gained access to various solutions including digital payments and white-label cards, facilitating easier navigation of regulatory complexities. Additionally, clients received access to Unlimit's customisable platform and rapid integration capabilities, potentially reducing time and monetary costs associated with entering new markets.
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