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Home Business StartUPs

Waza Launches Lync to Simplify Global Payments for African Businesses Across 100+ Countries

by Joan Aimuengheuwa
January 20, 2025
in StartUPs
0
Waza Launches Lync to Simplify Global Payments for African Businesses Across 100+ Countries
Maxwell Obi and Emmanuel Igbodudu, Waza co-founders

Maxwell Obi and Emmanuel Igbodudu, Waza co-founders

UBA
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Waza, a B2B payments platform, has launched Lync, a banking product designed to simplify international payments and multi-currency account management for businesses. 

This launch comes at a time when many companies in Africa are seeking reliable alternatives following recent disruptions caused by regulatory changes in global fintech platforms.

Lync enables businesses to receive funds and make payments in over 100 countries, supporting currencies like USD, EUR, GBP, NGN, and stablecoins. 

Unlike platforms that process transactions through intermediary accounts, Lync offers businesses full banking access. This direct approach ensures faster payment reconciliation and simplifies financial operations for enterprises with global needs.

Maxwell Obi, Waza’s co-founder and CEO, noted Lync’s solid infrastructure, which supports payment systems such as ACH, Fedwire, SWIFT, and local networks like the UK’s Faster Payments. 

These allow businesses to handle complex financial operations, manage foreign exchange liquidity, and simplify global transactions from a single platform.

In addition to payments, Waza plans to integrate trade financing features into Lync. Businesses will soon have access to pre-shipment and invoice financing tools, which are essential for managing cash flow and scaling international trade.

One of Lync’s commendable features is its affordability. Waza leverages its experience in the fintech sector to negotiate competitive exchange rates and reduce transaction fees for its users. The company’s control over its payment infrastructure enables faster processing times and cost savings, giving it an edge over competitors.

“Our goal has always been to deliver affordability and efficiency,” said Obi. “By building our infrastructure from the ground up, we can offer businesses cheaper and faster solutions compared to other providers.”

With limited access to hard currencies like USD, EUR, and GBP in many African countries, Waza aims to bridge the gap for businesses across international markets. Providing secure and transparent cross-border payment solutions has enabled Lync to help companies scale operations and improve cash flow management.

Waza’s introduction of Lync follows its successful $8 million funding round earlier in 2024, which was earmarked for market expansion and product development. With plans to enhance its offerings further, including invoice management and receivables tracking, Waza is working to bolster Africa’s fintech sector with its timely solution which addresses the challenges faced in emerging markets.

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Tags: African businessesGlobal Paymentsinternational paymentsLyncMaxwell ObiWazaWaza launches Lync
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

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