FairMoney

FairMoney is a fintech startup operating in Nigeria, aiming to become the mobile bank for the next two billion people. The company offers a range of financial services, including loans, savings accounts, and card transactions. It targets individuals and small to medium-sized enterprises (SMEs) who are underserved by traditional banks.

FairMoney's primary service is providing loans. It processes a significant number of loans daily, helping individuals and businesses meet their financial needs. For instance, it offers SME loans of up to ₦5,000,000, enabling businesses to grow and expand.

In addition to loans, FairMoney also offers savings products. Customers can lock in their money in fixed-term deposits, known as FairLock, and earn up to 24% interest per annum. Alternatively, they can choose to keep their money in a regular savings account and earn 14% interest per annum, paid daily.

FairMoney also provides a payment solution for businesses. By launching on the Payforce network, businesses can start accepting payments from anywhere, thereby increasing their income.

Lastly, FairMoney offers a cashback program. Customers earn 2% cash back whenever they use their FairMoney ATM card.

The company has gained significant traction in Nigeria, with a customer base of over 5 million. This indicates a growing acceptance of FairMoney's fintech solutions among Nigerians.

Keywords: Fintech, Mobile Banking, Loans, SME Loans, Savings Accounts, Fixed-Term Deposits, Daily Interest, Payment Solution, Cashback Program, Nigeria.