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 of its kind in Uganda, is powered by PesaMoni, a global payment gateway. Over 400, 000 global users have signed up on the mobile app.
Edgar Ofoyuru, the Products Designer at Bold Cashers Limited, speaking at a press conference in Kampala 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,” 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.
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 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 Asher Namanya Asanasio said that this is the start of an ambitious attempt to make Africa go cashless.
He 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.”Namanya said.
He noted that the mobile app enables users to transfer money to their Airtel and MTN mobile money accounts from their wallets to other users anywhere in the world, withdraw money, top-up airtime and make savings among others.
“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,’’Namanya said.
Kenneth Kimuli also known as Pablo, a 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. At Bold Cashers we thought of how we can help them live a productive life instead of them talking about everything and saying nothing,”Kimuli noted.
The mobile app developer said they have put in place all security measures required for the business and that they have got approval and certification from the National Information Technology Authority(NITA-U).