We send money.
We are short on time.
We are after a good deal.
We expect a brilliant service.
We want safe systems that protect our money and data.
So, we developed just that!
Pay365’s first service as part of our long term vision to improve payment services in the Gambia to become more inclusive prompted us to start Ping Money with a very clear goal in mind – an online money transfer service that will work for us, by us! And we knew exactly what we were missing.
Don’t get us wrong, there is nothing new about what we are doing, we’re not reinventing the wheel - simply trying to make it better.
As young migrant professionals that regularly send money to Gambia, we would often find ourselves frustrated with the inability to find all the aspects of what we deem important in one service provider - a good customer experience.
Over the years we have come across companies that will offer good services, but the extortionate transfer fees just felt unjustifiable. This is something that has been widely reported on; a recently released World Bank report shows that the cost of sending remittances to Sub-Saharan Africa continues to be far higher than any other region in the world. On average, to send $200 to and from a country in the region will cost almost $19. This is more than 20% higher than the charge for a remittance to any other region.
Let’s think about that. The equivalent of $19 or £15 equates to about 924 dalasi (at the current Ping Money exchange rates). This can buy a bag of rice that will feed a family for a month. It can pay school fees for a child or provide a months' worth of electricity for a household. The more we considered this, the more adamantly we felt about finding alternatives.
The alternatives were there, offering lower fees but not meeting our service expectations; slow websites, non-user-friendly apps, longwinded verification processes, and poor customer care. All in all just as frustrating to deal with.
Why so hard to find all the most important aspects of a great money transfer service in one company? This question prompted the birth of Ping Money.
We’re not just passionate about wanting to offer customers a great money transfer service but one of our key drivers is to offer value. Every pound counts – not only will we make our services work for our fellow migrant senders but equally for their receivers.
We cater to the senders that are short on time, after a good deal, expecting a brilliant service, and want their money and data protected.
We are Ping Money.