With the launch of Swifin Transact it is expected that many businesses will take the opportunity to digitise their business and bring the sale of their products and services online. This will give many businesses the opportunity to scale through reaching more customers and achieving increased sales.

Swifin Transact will be launched on Feb. 1st 2024. This is good news for the millions of people who are unbanked within continental Africa and other emerging markets in dire need for equitable access.

The large number of people who are impacted by Financial exclusion can now participate in a digital eCommerce platform which is specifically designed to cater for their needs.

Within Continental Africa for example the population affected is as much as 91% of the national population in some Countries. Another problem is general lack of liquidity and the prevalence of illiquid and volatile currencies which cause friction in trade. This has significant impact in the ability for many to participate in their national economies and leads slower than expected economic activity, reduced productivity and widespread poverty. Creating a platform which combines fiat and the African Kingdoms Lumi (AKL) improves the overall liquidity conditions and this could bring the much needed boost for participating merchants.

A vast number of people who are not able to make online payments will have the opportunity to use divisible, convertible and transferable coupons. This means individuals and businesses in these markets also participate cost effectively beyond traditional outlets where people would otherwise rely only Cash to access goods and services. .

Participants in Transact have to acquire a Swifin Dynamic Coupon or SDC which is deposited in Transact. Once deposited the Coupon's face value is digitised and becomes convertible, divisible and transferable to Merchants in exchange for goods and services on the basis of 50% Fiat and 50% in AKL.