back Back

OneFor enters market with new solution for borderless money transfers

By Megha Bhattacharya

July 05, 2021

  • Europe
  • Onefor
Share

OneFor, a new Pan-European FinTech company, has entered the market with a disruptive solution enabling borderless money transfers and payments. OneFor app registration takes only a few minutes, enabling users to add payment recipients directly from their phone’s address book. The connected individuals, wherever they are, receive an e-Wallet and a ready-to-go Mastercard debit card, which allows online or POS payments and ATM cash withdrawals in the country they live

Marco Abele, co-CEO of OneFor, said: “We believe money is about more than transactions – it’s about the connections, experiences and possibilities it unfolds. Our goal for OneFor is that it transforms transactions into moments of emotional connection, payments into shared experiences, and financial inclusion into a force for social progress and economic potential”.

The app and its e-Wallet are free; all that users need to qualify is a locally recognised ID card and proof of address (such as a phone bill). With fixed fees of €2.70, regardless of the international transfer amount, OneFor enables the UN and World Bank to exceed their Sustainable Development Goal (SDG). This is in contrast to most of the existing solutions that are typically more expensive and take from a few hours to a few days.

“We have an ambitious growth plan and we have done our homework to build a model that enables us to scale,“ added Fatih Bektas, OneFor co-CEO. “Apart from remittances, we are innovating other payment features. This includes the imminent roll-out of a QR-code solution serving local markets with a substantially cheaper and instant mobile POS for “touch & go” merchants, like small business owners or delivery services.”

OneFor is now available in the UK and all EU countries with an immediate focus on the UK, Germany, Switzerland, France, Belgium, the Netherlands, Greece, Italy and Spain, connecting them to the first receiving countries in North Africa, South-East Europe and Latin America.

Previous Article

July 05, 2021

BlocPal and OneFeather partner to launch OneFeather APP for the Indigenous communities

Read More
Next Article

July 05, 2021

ZEDRA sees record new client inflows and revenue growth in the UK

Read More










IBSi Daily News Analysis

June 09, 2023

Europe

There is no ESG strategy in place for almost half of the European SMEs, study reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 09, 2023

Brite Payments extends Instant Payments offering to Belgium

Read More

June 09, 2023

EasySend and Imburse partner to streamline digital payments

Read More

June 09, 2023

Lunar opens up infrastructure to enable instant payments in the Nordics

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q1 2023

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2023

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2023

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q1 2023

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022