(Business in Cameroon) - The Cameroonian fintech startup Squares Union announced that it had just signed a partnership with Wari in order to extend its money transfer services to more than 25 African countries.

“With Wari, we retained three high added- value points: the flexibility of cash points operators, the consolidation of Squares Union’s reputation with customers in the diaspora and an efficient customer support in Africa”, explained Freddy Noumeyi, the Vice-president in charge of operations.

According to the managers of this startup which has been in operation for years now in Cameroon, the partnership with Wari is “a step towards the ultimate project which consists in providing a solution for the payment of invoices by citizens of the diaspora for product and services purchased in Africa”.

The ambition of this company created in Canada by 3 former Cameroonian students has thus been achieved. Indeed, on September 2016, interviewed by Investir au Cameroun, Isabelle Quintard, one of the company’s managers said this: “we have partnered with many microfinance institutions and cooperatives in Cameroon. They are namely Fodec, Figec and CCA we will partner with soon. Afterwards, we wish to open new cash points in the country in order to cover the whole country. Sooner, we will also open points in Côte d'Ivoire, afterward, we will open in Senegal and Togo. We wish to cover Africa and, in the near future, Europe”.

Questioned over the advantages of Squares Union over the other operators in Africa such as the giants Moneygram and Western Union, or other Finetech such as WorldRemit, the lady said what follows: We have set ourselves apart from our competitor with our fees. First of all, for transfers up to $1,000, the fee is $5.99. Our fees are set while our competitors’ are variable depending on the amount to be transferred. Next, our platform is simple, fast and secure. So wherever you are, you can make transfers from your laptop, tablets and smartphone, every day and, at any moment. There is no need to leave your place”.

Brice R. Mbodiam