Derrick Agyiri, founded FastCashier due to his love for accounting and financial system engineering. The startup, now based in Ghana is set to set up shop in Canada, USA, and UK to provide Accounting, Payroll and Payment Software Development services to its diverse class of clients.
FastCashier at the moment has Wallet, Payroll and Accounting products and helps one to run their personal and business finance. It also helps in Payroll administration . The Wallet section helps users to pay and get paid without disclosing their financial information .
Speaking to to TechMoran, Agyiri said FastCashier is very secure and runs on state of the art server architecture and has a protocol it follows to prevent unauthorized access. The firm is also launching an Accounting system by December 2013.
Their competitors include Quickbooks (competitors for Accounting, Payroll ) and PayPal (Competitors for the Wallet Platform for merchant and individual ) but still Africa’s FastCashier is unique as it has a single access system, it charges 50% lower that Quickbooks and Paypal and does not hold users funds for six months incase there is a dispute and is right for the market.
Agyiri says mobile money is not a competition as FastCashier deald directly with the banks and without a bank account a user cannot use FastCashier Wallet and says the future of mobile money will be ending soon.
FastCashier expects to expand across Africa rabidly as their mobile platform is what Africa needs with the increasing use of mobile phones especially for their Wallet . The firms Accounting and Payroll platform will have an Offline Feature that will later Sync with the Website Version when there is internet connectivity.
The firm is also planning to integrate bitcoin payment payments using a cardless ATM system to meet the high demand for payment and instant money transfer in Africa and across the world.
“Our service may require a high level of training to achieve our target. We currently know the SMS and USSD payment is currently working mostly in Africa. However , there has been an increase in internet based mobile phone and I see the future of USSD and SMS payment going close to its end,” concluded Agyiri.