Vult in collaboration with Mastercard has launched pay-tag alias Samba to help transform financial services in Sierra Leone.
In a press release to the public Vult stated that they are exited to have accomplished a great feat that will bring efficient service in the financial sector in the country.
“Vult is excited to announce the launch of “Pay-tag,” also known as “Samba”—a groundbreaking addition to digital financial services in Sierra Leone. Pay-tag is an innovative feature within Vult, a digital wallet designed to make transactions, money transfers, and bill payments simpler, faster, and more secure.”
With the Bank of Sierra Leone Sandbox program supporting Vult, users are assured of a reliable and compliant digital platform.
Vult, in collaboration with Mastercard, is extending its digital wallet services to support seamless cross-border transfers. Users can now generate a Pay-tag, which can be shared globally, enabling anyone with a Visa or Mastercard to make instant payments to Vult users, whether they are also Vult users or not. This development opens up unprecedented accessibility for Sierra Leoneans at home and abroad.
“Pay-tag eliminates the traditional barriers of waiting in line or enduring prolonged verification processes. Funds are received instantly in the Vult wallet, removing the need for third-party verification. The feature is crafted for ease of use, allowing recipients to avoid unnecessary travel and delay.”
“Remittances play a crucial role in the financial stability of many Sierra Leonean families. Pay-tag facilitates low-cost transactions, enabling family members abroad to send funds directly to their loved ones’ Vult wallets in Sierra Leone. The process is simple: a recipient creates a Pay-tag or “SAMBA” and shares it through messaging platforms like WhatsApp. A secure Mastercard page opens with a single click, allowing the sender to complete the payment directly into the recipient’s Vult wallet.”
“The launch of Pay-tag marks a milestone in Sierra Leone’s financial landscape,” says Pierre Johnson, Chief Operating Officer of Vult.
“This innovative remittance system empowers users with secure, user-friendly tools, fostering financial inclusion and stimulating economic growth nationwide.”
With Mastercard security features, Vult provides a high level of transaction protection, promoting user confidence.
Metro Cable has completed Phase 2 of its FTTx fiber broadband network, covering over 85% of Freetown’s urban and rural areas with over 800 km of fiber infrastructure. This open-access network, the largest in Sierra Leone, currently supports more than 5,000 homes via 16+ ISP partners.
