Fastacash, a Singapore based startup wants to make sending and receiving payments easier than ever before. Although there are a lot of platforms facilitating money transfer but Fastacash is different as it aims to send money to friends and family through social channels like Whatsapp, Facebook messenger etc.
Vince Tallent, chairman and CEO of Fastacash believes that if you can send messages and photos from one location to another through Whatsapp, then you can send money too. Being the power statement of the company, Fastacash is developing and testing a technology by which you will be able to send money through social channels just as it is done with Visa or Master debit / credit cards.
Fastacash has already got around 1 million registered users on its platform and has recently got a funding of $15 Million. Earlier, it had raised $8.5 Million. It can be believed that with eCommerce and mCommerce being the future of online payments between family, friends and retailers too, social eCommerce is soon picking up.
Paypal started eCommerce services by enabling people to send money to an email ID and now startups like Fastacash are enabling people to send money through social networks like Facebook, Twitter, Whatsapp etc. which are being used by people everyday.
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