UMOJACOIN

Umoja (UMC) is the new African currency connecting and enabling
all Africans across the continent and Afros worldwide. 🌴

[UMOJACOIN @Umoja_coin]

Nilikuwa sijui hii kwa muda mrefu.

Risiti ya uhamishaji wako inaonyesha ada moja tu. Ile inayoonekana. Lakini kabla ya pesa kufika, mambo mengine mengi yanafanyika.

Tofauti ya kiwango cha ubadilishaji, iliyojengwa ndani ya mabadiliko. Ada ya benki ya kati, iliyochukuliwa njiani. Ada ya benki ya mpokeaji, iliyoondolewa kabla ya taarifa kufika.

Hakuna kitu kati ya hizi kinachoonekana kwenye risiti yako.

UmojaPay inatozwa 1%. Inasemwa mapema. Hiyo tu.
$300 inatumwa. $297 inafika.

Fuata @Umoja_coin

#UmojaCoin #KenyaFintech #Swahili #CrossBorderPayments #Remittance

[UMOJACOIN @Umoja_coin]

Your transfer receipt dey lie to you by omission.

You go see the transfer fee cos e dey on the receipt, but you no go see the exchange rate markup, the correspondent bank charge, or the receiving bank fee.

But for Umoja Pay receipt, na only one line you go see: 1% fee.

That na the complete story.

#UmojaCoin #NaijaTwitter #PidginEnglish #CrossBorderPayments #Remittance

[UMOJACOIN @Umoja_coin]

This week, we showed you the receipt nobody gives you.

The exchange rate markup that doesn’t appear on any document. The correspondent bank charges that are deducted in transit. The receiving fee that’s taken before the notification arrives.

Now you have language for something you probably already knew was happening.

You probably know someone who sends or receives money across borders. Someone who absorbs the gap without knowing what to label it as.

Share this page with them, so they know the language too.

#UmojaCoin #UmojaPay #EarlyAfrica #CrossBorderPayments #Remittance

[UMOJACOIN @Umoja_coin]

We’ve been watching the founding member spots fill up.

There is a specific kind of regret that comes from finding out about something after the early window closes. We’ve all felt it before, with things we wished we had paid more attention to sooner.

We’re building Umoja Pay partly so we don’t feel it about this.

If you’ve been sitting on the fence, the spots are genuinely filling, and this is your reminder to come on board.

Get started 👉https://t.co/wXXfGs0oQj

#EarlyAfrica #UMCCredits #UmojaCoin #UmojaPay #FoundingGeneration

[UMOJACOIN @Umoja_coin]

Something I keep coming back to:

The people who built the early internet were not the ones who predicted it would change everything. Most of them just had a specific problem that irritated them enough to do something about it.

When people ask us why we’re doing this, the answer isn’t very strategic. We’re just tired of watching people lose money on transfers that should work. So we’re building something that works.

That’s it, really.

Follow @Umoja_coin

#UmojaCoin #UmojaPay #EarlyAfrica #AfricanFintech

[UMOJACOIN @Umoja_coin]

A short history of African fintech promises:

2015: We’ll bank the unbanked.
2018: We’ll make cross-border payments seamless.
2021: We’ll take remittance fees down to zero.
2024: Average remittance cost to Sub-Saharan Africa is 8%. Still.

We’re not interested in making promises.

We charge 1%, and we’re building the infrastructure. That’s the whole statement.

Follow @Umoja_coin.

#UmojaCoin #UmojaPay #AfricanFintech #CrossBorderPayments #EarlyAfrica

[UMOJACOIN @Umoja_coin]

Which of these hits harder?

A. Sending $300, watching $278 arrive, and saying nothing
B. Receiving $278, knowing $300 was sent, and saying nothing
C. Being the one who has to explain why less arrived
D. Being the one who never finds out

Pick one and tell us why in the replies.

#UmojaCoin #Remittance #AfricanFamily #CrossBorderPayments

[UMOJACOIN @Umoja_coin]

Something we didn’t fully understand until we started building in this space:

The fee you see on your transfer receipt is a fraction of what was actually taken.

The exchange rate markup is built into the conversion before you see it. The correspondent bank charge is taken off while your transfer is in transit. The receiving bank fee is deducted before the notification arrives. None of these has a line on any receipt you’ve ever seen.

On a $300 transfer, those three things together can cost more than $20. The receipt might say $8.99.

Umoja Pay charges you 1%, and you see it before you confirm. Then nothing else is taken.

Tell us, what have you found when you actually add up what a transfer costs you?

#UmojaCoin #UmojaPay #CrossBorderPayments #Remittance

[UMOJACOIN @Umoja_coin]

Did you know?

The number on your transfer receipt is not the amount the recipient's bank receives.

By the time the money passes through correspondent banks, currency conversion, and the receiving bank, the actual amount delivered is typically 8 to 15% lower than what you sent.

Only the visible fee gets a receipt. Everything else disappears quietly.

Has anyone ever given you a full breakdown of every fee on a transfer before you sent it?

#DidYouKnow #UmojaCoin #UmojaPay #Remittance #CrossBorderPayments

[UMOJACOIN @Umoja_coin]

There’s something we’ve been frustrated about for months.

Every transfer receipt shows you the visible fee. They charged $8.99 to process it, but nothing about the exchange rate markup they built in. Nothing about the correspondent bank that took something in the middle, too or the receiving fee deducted before the notification arrived.

So we’ve made the receipt that should have been there from the start.

See the graphic below.

#UmojaCoin #UmojaPay #CrossBorderPayments #Remittance #EarlyAfrica

[UMOJACOIN @Umoja_coin]

If you know a corridor the industry has abandoned, please share it below.

And follow @Umoja_coin. We’re building for the corridors nobody else is building for.

Get started 👉 https://t.co/ilhZp2r2MS

Community 👉 https://t.co/6gVDAPg3hg

#UmojaPay #UmojaCoin #EarlyAfrica #AfricanFintech #CrossBorderPayments #Sudan #Egypt

[UMOJACOIN @Umoja_coin]

There’s a payment corridor that almost nobody in fintech talks about.

Cairo to Khartoum.

This is Halima's story 🧵

[UMOJACOIN @Umoja_coin]

That’s what we’re building toward.

We’re not just building cheaper, we’re building predictable.

For Halima, for her mother in Khartoum, and for every person navigating a corridor the industry treats as too complicated to serve properly.

[UMOJACOIN @Umoja_coin]

It’s been 10 weeks of this.

Ten weeks of sharing stories about nurses who send money home and watch it arrive short. Developers who earn in euros and receive naira, which never quite adds up. Market traders who have built whole financial strategies around a gap that the system will not explain.

We didn’t get numb to it, and that’s surprised us. We thought we would be by now.

Instead, we wake up every morning more convinced that what we’re building needs to exist.

We’re still at it. Follow along.

#UmojaCoin #UmojaPay #EarlyAfrica #AfricanFintech