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Who can use Transact?

Swifin Transact is a Community Tool. It is only open to members of the community who wish to use the Swifin Dynamic Coupons to buy goods and services from other members of the Community.

What do I need to use Transact?

Transact is a Community Tool for using dynamic hybrid coupons called Swifin Dynamic Coupon or SDC. The face value of each SDC is based on 50% in Fiat and 50% in the African Kingdoms Lumi (AKL). You will therefore need to buy and deposit your SDC which can be settled in Transact for you to use in exchanging goods and services from other members of the community.

What are the current available SDCs?

There are 5 SDCs available. These include 10SDC, 100SDC, 1000SDC, 10000SDC and 100000SDC

What are the prices of the SDCs?

There are currently only 5 SDCs with different face values. These are listed below; 10SDC = USD5 + AKL0.313283 100SDC = USD50 + AKL3.132832 1000SDC = USD500 + AKL31.328321 10000SDC = USD5000 + AKL313.283208 100000SDC = USD50000 + AKL3132.832080

Where can I buy SDC?

SDCs which have a fixed face value areavailable from Swifin Connect Marketplace. You can use the link below to find and buy them. https://connect.swifin.com/?s=sdc&post_type=product

How do I access the face value of the SDC?

All SDCs are settled in Swifin Transact. So you will receive the USD equivalent of the face value of the SDC into your Transact Account. This is similar to paying in a check or redeeming a voucher. Make sure you select USD as the currency to deposit your SDC.

Do SDCs expire?

No. You can keep SDCs for as long as you want or deposit them to your Transact Account at any time.

How do I deposit SDC to my Transact Account?

After purchasing your SDC or receiving one from another Community member you will need to create a Deposit transaction in Transact and provide your SDC order number. The face value of the SDC will be credited to your Transact Account.

Why should I use Transact?

Transact is the the only Tool that provides integrated environment for exchanging goods and services using Swifin Dynamic Coupons (SDC). The value of each SDC is 50% fiat and 50% AKL. When you use Swifin Transact, you will not need to make two separate transactions for each component value. Transact enable the unbanked to take advantage of the SDC to pay for goods and services with 50% fiat and 50% AKL without using a Bank Card.

Can a Merchant withdraw their balance from Transact?

Yes. 50% in Fiat and 50% in AKL. Transact works on the basis of [50/50] in and [50/50] out. Even though you can trade with the full face value in any currency of your choice.

When you make a transfer to a Merchant what is the value of the transfer?

Once SDC is delivered in Transact on a 50/50 basis, they become instantly divisible, transferable and convertible into any local currency equivalent value in order to facilitate trade and exchange of goods and services across the community in any familiar currency. This is always on a 50/50 basis. Therefore similarly, all withdrawals follow the same 50/50 rule. This means that 50% will be paid in fiat and 50% in AKL

Are there any fees on Transact?

Yes. There is a standard fee of USD0.6O + 2.5% on all transactions. The fee is charged on the principal value being transferred.

What is the price of 10SDC?

USD5 + AKL0.313283

What is the price of 100SDC?

USD50 + AKL3.132832

What is the price of 1000SDC?

USD500 + AKL31.328321

What is the price of 10000SDC?

USD5000 + AKL313.283208

What is the price of 100000SDC?

USD50000 + AKL3132.832080