Tech in Africa
SOL, a South Africa startup has rebranded to SOLmate. This online payment platform that offers clients a digital wallet facility has unveiled a new product offering, a virtual card that places the unbanked and underbanked clients at the center of SOLmate’s business offering.
The virtual cards enable clients to safely shop online while drawing cash from different retail stores. This ensures SOLmate remains one of the first fintech players offering virtual cards to FICA lite customers who would not have accessed digital financial services.
SOLmate also offers an entry-level product tailored for low-income individuals with limited access to financial services. In the coming months, the startup will introduce traditionally bank accounts for unbanked consumers looking for convenient, easy-to-use alternatives.
Through the SOLmate account, users can deposit their salaries and use their accounts to transact while purchasing basic products ad services through the app. SOLmate has kept all costs to a minimum making it affordable and accessible.
Source: press release on techtrendske
