Former Plaid Product Leader Launches Wafi.cash: A Fast, Secure, and Cost-Effective Payment Processing Platform for Ecommerce Businesses

Wafi, Inc., a next generation bank payment processing provider, is proud to announce the launch of Wafi.cash, a revolutionary payment processing platform that provides ecommerce businesses with a simple API to enable fast, secure, and cost-effective processing of bank payments.

The platform eliminates redundant entities in the payment processing flow, giving businesses significant cost savings and increasing profitability. Ecommerce businesses reduce payment processing fees by over 50% and users earn up to 0.75% cashback on every purchase.

In addition to reducing fees, Wafi also helps reduce payment failures. The platform is built-in with automated workflows and smart fallbacks that handle multiple payment scenarios, increasing payment success rates.

But reducing costs and failures isn’t all that Wafi does. Wafi also helps reduce fraud. Its smart 2FA solution ensures that people paying with Wafi are known, and its proprietary fraud detection technology enables Wafi to detect and prevent fraudulent transactions. Wafi’s advanced security features, including bank-grade encryption and a smart multi-factor authentication system, provide businesses and consumers with peace of mind.

“Despite the advancements in technology and payment processing I helped build while at Plaid, we still continue to see fraud, identity theft, high fees, and inconsistent user experiences plague both businesses and consumers,” said Victor Umunze, Founder and CEO of Wafi. “At Wafi, we believe that there is a significant opportunity for improvement in this space. Wafi.cash opens businesses to new payment opportunities and allows them to take advantage of the shift in consumer behavior towards cash spending online and offline, while providing a fast, secure, and cost-effective solution.”

Wafi Checkout, Wafi Pay, and Wafi Connect are three new products built into a simple API.

Wafi Connect verifies customers’ bank account information to confidently process their payments.

Wafi Pay gives businesses the ability to quickly and reliably send and receive payments from customers.

Wafi Checkout allows businesses to accept bank payments in a fast, secure, and cost-effective way.

Early feedback from our Beta partners has been overwhelmingly positive. “Wafi.cash gives Cerebelly the ability to offer our customers an innovative payment method that enables them to pay with their bank account and earn cash back every time,” says Connor Mcleod, VP of Ecommerce at Cerebelly.