The company that provides Bitcoin payments says it aims to lead Africa into a new digital era and provide a compelling alternative to fiat currencies.
Patricia, a financial services company based in Lagos, Nigeria, has made a honest start to e-commerce. The platform is now global and the company estimates that more than 300,000 people use the platform for their daily needs. The company also has offices in Ghana, the UK and the USA.
The Patricia team is working to harness the power of cryptocurrency and blockchain technology to create alternative solutions to the existing financial infrastructure so that consumers can buy and sell BTC at the best rates in Africa without any hidden costs. The digital assets can then be stored in a Patricia “safe, secure and flexible wallet”, and users can freely convert bitcoins to the Nigerian Naira fiat at any time.
Founder Figero Khan Agbuji recently told The Guardian, “I had an uncle who would come to Nigeria and give me an iTunes gift card. I didn’t have an iPhone, so I literally didn’t need one, so I tried to find a place where I could exchange it for real money. I could find any local company that could do this, and in the end the card tricked me. In that moment, I realized I had found something special. ”
Patricia is thriving now – and has grown to be more than Agbodier originally anticipated.
Make BitcoinV usable
While many people see Bitcoin as a speculative or store asset of value, Patricia thinks this misses the point: A large number of people will use the world’s largest cryptocurrency for daily purchases, bill payments, renewal subscriptions, and more.
One of the company’s main products is the debit card, which can be customized so that Bitcoin holders can withdraw cash from any ATM. Shopping can also be done from countless sellers around the world.
Under the pressure of financial inclusion, an instant bank account can be opened in minutes, and Patricia says this is one of the lowest transfer fees on the market. All of this helps protect clients’ money, which means higher prices don’t eliminate people’s hard-earned money.
Other features include the ability to buy and sell gift cards anywhere in the world, including from leading brands including Google Play, Amazon and iTunes. Those who managed to sell the gift cards could quickly access the cash.
More understanding from Patricia here
Then there’s Patricia Refill, which allows customers to purchase transfer times for major mobile networks directly from Bitcoin wallets as well as data subscriptions. Moreover, excess transfer time can be converted back into cash – a new feature that rarely appears elsewhere.
The core of these fintech offerings is an app where all these services are available with a single touch. The program is available on the Apple App Store and Google Play platform.
For some consumers, the world of cryptocurrencies can be a difficult learning curve. This is why Patricia has created a comprehensive educational portal that informs users how all the features work. There are also simple guides that explain what a cryptocurrency wallet is and describe the benefits of Bitcoin.
Patricia is well positioned to take advantage of the ever-increasing demand for mobile payments in Nigeria and around the world. According to data published by the country’s interbank settlement system, since May 2019 the number of these transactions has increased by 391%, and the volume of transfers has also increased.
The company received widespread publicity, including some of the largest publications in Africa. For example, the Guardian newspaper in Nigeria has regularly followed Patricia’s success, highlighting how Figero Khanu Agbuj transformed the brand into a multi-billion dollar company in just three years.