Today we are going to be talking about mytalu for developers. This is our embedded finance product that allows anyone to launch and scale a fully compliant digital wallet payment solution in a matter of weeks by integrating into our friendly APIs.
First up – what is Embedded finance?
- Embedded finance also known as Fintech-as-a-service (FaaS) is a new emerging proposition in the world of fintech. Put simply, it is a plug-and-play payment infrastructure layer that businesses can integrate into through APIs in order to launch new and innovative propositions without needing to build any of the payment infrastructure themselves.
What are the benefits?
- It dramatically cuts the time required to launch and scale a fintech proposition and allows you to focus purely on your unique product offering and user experience. By connecting to the APIs, you gain access to a fully compliant payment infrastructure layer that has already been built and does all the heavy lifting for you. Not to mention, it is far more cost effective than building it yourselves.
What if I want to build the payment layer myself?
- If you wanted to build the payment layer yourself, it would take 12-18 months and require about $500,000 USD in capital. You would have to get a license from the regulators (most commonly the Central Bank) and your team would have to be knowledgeable in areas ranging from tech to compliance and operations. It would be a massive challenge and lots of start-ups that go down this route fail because they simply don’t have the resources, time, or requisite team. Embedded finance players such as mytalu have already done this hard work and have a fantastic team in place to support you.
What Kind of APIs do you have?
- We have lots that you can use, the wallet API allows you to generate digital wallets and we also support KYC, AML, Payments, Bills and Airtime as well as lots of other cool features and we have plenty more on the roadmap!
What countries are you live in?
- We are going live soon in Uganda and Zambia. If you are based in either of those countries and want to integrate a digital wallet solution into your product to create unique experiences, please do get in touch at email@example.com