April 06th,2016

Company Data

  • Company Name: Mergims
  • Office Address: Kacyiru, Kigali 156 KG 686
  • Company Email: info@mergims.com
  • Company Phone: +250783716276
  • Company URL: http://www.mergims.rw/

Company Facts
  • Type of company: Financial Technology (Fintech)
  • Left kLab: February 2015
  • Number of employees: 1-5

Summary

MERGIMS is a payment platform that connects nationals living overseas with merchants in their home countries and enables them to pay for example airtime, utilities and tuition fees of their beloved ones.

Startup in detail

MERGIMS is an online payment platform for basic, urgent goods and services in Rwanda. The distribution channels are mobile applications, web application and application program interface (API). The company offers an efficient ''cash to goods & service'' business model, a viable alternative to traditional remittance schemes that can be used by individuals via their mobile applications and website or embedded in Money Transfers Operators’ systems (MTOs). They are also offering an alternative to existing mobile payment platform, which cannot handle complex payments as of tuition fees, grocery, hospital bill or medicine.

Western Union , MoneyGram and other money transfer operators (MTOs) have steep service charges and complicated administrative procedures, offer a narrow range of services and cannot guarantee neither the receiver's safety outside their branches after a fund withdraw transaction, nor the proper use of the funds sent.That is why migrants from emerging countries are unsatisfied with current methods of transferring funds to their home countries. This situation makes many of them use informal money transfer channels, which are even more insecure and slower..

MERGIMS business model guarantees the proper use of funds sent, minimizes administrative procedures, reduces significantly the cost and the time related to remittance process and eliminates also the handling of cash for receivers. Also, they accept modern payment methods like credit cards, debit cards and eWallet PayPal.