₦airaland Forum

Launching a business can be exciting yet daunting as it requires sleepless nights, hard work and full commitment. Mapping out marketing strategies, sourcing for funds, writing a business plan, carrying out market research and a host of other responsibilities are expected in the pre-launch phase.

After the launch of a business, entrepreneurs wear many hats ranging from founder to marketer to human resource to accountant and the list goes on and on. The pressure from carrying out numerous responsibilities can be overwhelming and can have a negative impact on the business owner as decisions will be made poorly and mistakes are bound to happen.

Although, it is not “abnormal’’ for new business owners to make some mistakes in the early phase of a business, it is vital to ensure that these mistakes aren’t costly and do not happen regularly.

Many small businesses have failed within a few months of operation. Some have failed due to legal or regulatory issues, insufficient funds, terrible marketing strategies, a poor product etc while others have failed due to lack of basic planning, carrying out proper research and making mistakes that could have easily been avoided.

Today’s article is centered on helping first-time business owners by highlighting some common mistakes that should be avoided in the early phase of launching a business.

Some of these common mistakes include;

1 . Avoiding Technology: In recent times, technology has helped to simplify how to launch, manage and grow a business. Technology (Internet, social media, Mobile Apps) has also improved the various components of a business. For instance, through technology, business owners are able to market their products globally and receive payments from customers in any part of the world without having to meet physically, going to the bank or filling a bunch of forms.

However, many new business owners tend to avoid the use of technology for their business regardless of the numerous benefits it can offer their business. This is a common and costly mistake made by many first-time entrepreneurs and one that you should avoid making. Utilizing technology in the day to day operations of your business is a great way to save time, simplify your workload and increase the efficiency of you and/or members of your team.

2 . Absence of a business plan: Like the popular saying goes “If you fail to plan, you plan to fail”. Lack of a well-structured business plan is one of the major reasons many small businesses fail within a few months of operation. The importance of writing a good business plan cannot be over-emphasized as it is a tool that helps an entrepreneur define the business goals and map out strategies that can be taken to achieve those goals. Many small business owners fail to write a business plan when starting a business and this can have a negative impact on the business as time goes on.

3 . Not Outsourcing: Another common mistake new entrepreneurs make is juggling different jobs and responsibilities at the same time. Many first-time entrepreneurs take on too many responsibilities in the early phase and get burned out easily. Although, it is expected for a first-time business owner to wear many hats in the early phase, however, when the workload becomes draining, hiring staff or freelancers should be the next step. Many business owners are reluctant to outsource help from freelancers or consultants because it costs money, However, outsourcing when the workload becomes heavy is a great idea as it protects your mental health and reduces fatigue that can be detrimental to the growth of your business.

4 . Overspending: Starting a business doesn’t require breaking the bank. However, many new business owners go above and beyond by making purchases that aren’t necessary for the growth of the business. In the early stage of business, prioritizing the needs of the business is key. However, many new small business owners pay monthly subscription fees for online applications and tools that are not “necessary” for the day to day operations of the business. Other ways small businesses waste money include outsourcing too many tasks, Hiring staff before they are really needed, buying fancy equipment to “look big” and bad marketing tactics. Spending unnecessarily in the early stage of a business can hurt the business and have a negative impact on the finances.

5 . Ignoring Online Marketing: A costly mistake made by new entrepreneurs, especially those that have physical stores, is not taking advantage of the numerous benefits of online marketing. Promoting your goods and services online is an effective style of marketing. However, many business owners do not take advantage of digital marketing and its business tools. Increasing brand awareness, global reach, effective targeting, increasing brand appeal are few of the numerous benefits digital marketing offers your new business. It is important to note that marketing is a vital component of your business and if done correctly can boost sales and increase profit.

Starting a business is overwhelming, however it is important to carry out proper research, learn from your competitors, network with people in the same field to avoid making mistakes that can hurt your business in the long run.

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As part of the on-going evolution of our company’s brand, we are excited to share with you our rebrand story, and our new products.

After months of planning and careful consideration, we decided to redesign our company logo to better reflect our values and personality as a brand and most importantly, symbolize our future.

Along with our refreshed logo, We have also introduced our new website which has a modern and professional interface.

Our new website features fresh and exciting contents which include updates on our latest and existing products and services, product-centric blog posts, insightful articles centered on business growth and testimonials from satisfied customers. The new website is easier to navigate and user-friendly.

Our goal with the new website is to make learning about our products and services seamless, increase our brand appeal and provide a better user experience.

Our journey so far…..

Founded in November 2021, Vella is a digital payment platform that provides alternative payment solutions for individuals and businesses in Africa. Vella offers individuals and businesses a robust range of financial products and services that enhance payment experience, accelerate business growth and boost earnings.

Over the past eight months, our company, Vella, has evolved and experienced tremendous growth since its release in beta.

With over two billion naira in transactional volume, 15,000+ users and an array of financial services designed to enhance payment experience, We are proud to say that Vella has focused and still focuses on the vision on which it was built — To bridge cross border payments for individuals and businesses in Africa.

Since its release in Beta, Vella has been able to;

- Equip small businesses in Africa with financial tools that accelerate business growth.
- Simplify online payment on international sites with our virtual dollar card.
- Provide a seamless bill payment service for our users.
- Enable users to swap currencies in minutes.
- Protect users from inflation by enabling them to save their naira in dollars.

What’s New?

Vella 2.0

Still, in the spirit of rebranding, we have also upgraded our mobile applications and integrated new features to improve user experience.

The latest version of our App is a total upgrade from the previous version as it boasts of a better user interface, improved graphics performance and a range of new and exciting features for businesses.

Our newly integrated features enable businesses to;

- Pay local and international suppliers in over 80 countries using the “Global Wire Transfer” feature.
- Create Virtual (Naira & Dollar) Cards for online payments.
- Generate payment links to request payment from customers globally.
- Apply for loans and overdrafts.
- Create Virtual accounts.

The newly integrated features on Vella 2.0 focuses on providing simple payment solutions for SMEs and large business enterprises in Africa.

VellaPay

Sending and receiving money just got a whole lot better! VellaPay is a service designed to make online payments simple, fast and secure.

A common problem faced by small businesses in Africa is the absence of a reliable payment gateway provider and this is what VellaPay aims to solve. Through VellaPay, small businesses in Africa are able to receive payment from customers globally using our secure hybrid payment gateway.

VellaPay seeks to improve the purchase experience for customers by providing familiar and simplified payment methods that are secure and convenient.

With VellaPay, merchants can accept payment from customers through;

》 Payment Links

》Bank Transfer

》Fiat and Crypto

》Offline retail payment (POS)

》Stable coins.

Vella Credit

Designed to give entrepreneurs quick access to loans required to grow their small business, VellaCredit gives small businesses in Africa access to credit facilities required to fund short and long term business needs.

Through VellaCredit, small business owners have easy access to business loans and overdrafts from as low as ₦50,000 to ₦20,000,000.

A major benefit of using our VellaCredit service is that entrepreneurs do not have to worry about a lengthy loan application process and high interest rates as VellaCredit offers hassle-free access to loans and friendly interest rates.

However, there’s an eligibility requirement for VellaCredit. Continuous usage of VellaPay for your payments.

Vella Boost

Vella doesn’t just provide a payment solution for individuals and businesses in Africa, Vella also provides a secure means through which users can put their passive earnings to good use and earn up to 12% interest annually.

Vella Boost is a financial service that helps individuals and businesses in Africa grow their earnings. It’s particularly great for people who have savings but do not know how to grow their savings.

With Vella Boost, you can make smart financial decisions while having total control of your finances.

As a Fintech startup, our goals include expanding and diversifying our products and services to solve the regular payment challenges faced by individuals and businesses in Africa.

Our main goal is to keep providing an excellent level of service to our customers and to help businesses (Small, Medium and Large Scale enterprises) in Africa reach their maximum potential.

We are so delighted to share our rebranding story with you and we would like to use this opportunity to thank our partners, customers and businesses for sticking with us and for giving us an opportunity to serve you.

If you have any enquiries about our products and services, do not hesitate to reach out to us via our email address at hello@vella.finance or through any of our social media channels @Vellafinance.

Before the advent of technology, making payment for a product or service had to be done in-person using cash or a cheque. Over the years, technology has played a significant role in the world of business by providing various digital payment methods and improving the payment experience for entrepreneurs and customers across the globe.

Today, technology has introduced a variety of online payment methods that enable businesses to receive payment for goods and services easily. Online payment methods have become the most popular and widely accepted means of sending and receiving payment because they are convenient, secure and enable businesses, particularly small businesses, to reach a wider customer base.

Online payment methods used by businesses include credit cards, debit cards, electronic bank transfers, digital payment Apps etc. In today’s article, I will be focusing on a new and simple online payment method called Payment Link.

What is a payment Link and how does it work?

A simple and convenient way of requesting payment from customers, payment links are URL or QR codes that are generated by merchants and sent to customers to make payment for goods and services.

A payment link is usually powered by trusted digital payment companies like Vella, Paystack, Flutterwave etc. Merchants can generate a payment link and present it to a customer via email, text message, social media channels (Whatsapp, Instagram etc).

An interesting thing to note about payment links is that they are generated per transaction and can be customized to include details of a particular transaction. Details such as the item(s) purchased and the amount requested by the merchant.

For instance, if a customer is interested in paying for your product, you can easily create a payment link via a trusted payment provider. Once you have generated a payment link that includes the details of the transaction, all you have to do is forward it to the paying customer. The paying customer clicks on the payment link and is taken to a page where they can make payment using their preferred payment method.

Benefits of using payment links for your small business

Integrating payment links as a payment option in your small business provides many benefits for your business. Few of the benefits include;

- Easy to generate: Merchants can create a payment link in less than 10 seconds

- Global: Merchants can receive payment from customers in multiple currencies.

- Simple: Making payment using a payment link is not a cumbersome process.

- Increase Brand Appeal: Having a payment link as a payment option for your business shows that you move with the latest payment trends and are up-to-date.

- Multiple Payment Options: Customers can pay you using multiple means e.g. bank transfer, debit cards etc.

- Security: No middleman involved which means customers can make payment without worrying about fraud.

How To Create A Payment Link on Vella

Whether you need to request payment for products purchased on your ecommerce store or you need urgent 2k from your friends, Vella enables users to generate payment links quickly and easily. Using a payment link generated on Vella provides multiple payment options that allows you to receive payment from customers via crypto, bank transfer etc.

Interested in creating a payment link on Vella? Follow these simple steps;

1 . Log into your Vella account

2. On your dashboard, tap Payment Link

3. Tap Create Link and select Single Payment

4 . Enter the Title and Description of the transaction.

5 .Select currency and enter the amount.

6. Click Create. Your link will be created automatically.

7. Tap on the newly created link to copy the URL

8. Present it to your customer.

Once your customer clicks on the payment link, they will be taken to a page where they can make payment using their preferred payment method. As soon as your customer makes payment, you will be notified.

If you have a small business, you should consider using a payment link to receive payment as they are secure and convenient.

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A great website and a reliable payment gateway work hand in hand in ensuring that your business increases its brand appeal and generates more revenue. Over the years, thousands of businesses in Africa have embraced the idea of having an online presence where they promote their goods and services to prospects or customers.

In our bid to equip small businesses in Africa with tools that enable them to actualize their business goals, we are delighted to announce our strategic partnership with no-code website builder, Finrik, as a way of helping businesses in Africa build an online storefront with a great payment gateway.

Our partnership with Finrik stems from the fact that we share the same mission which is to help small businesses in Africa, especially Nigeria, grow and reach their maximum potential irrespective of the economic climate of Africa as a whole.

What do small businesses stand to gain through Vella and Finrik Partnership?

Many entrepreneurs struggle with creating a website and finding a payment solution for their small business. Through this partnership, entrepreneurs can say goodbye to the challenges of building an online storefront and finding a trusted alternative payment solution.

Vella and Finrik partnership enables entrepreneurs to create a business website via the finrik No-code infrastructure easily without having to worry about writing a line of code.

Small businesses who build their website using the Finrik infrastructure now have Vella as a payment method and can easily accept payment from customers through our hybrid payment gateway (Bank Transfer, Payment link, fiat, & crypto).

We are both excited to be working together in supporting small businesses in the pursuit of their goals.

Today, thousands of businesses across the world have an online presence and a plethora of digital tools that support business growth. Using social media channels, small businesses are able to market their products and services, communicate with prospects and customers and most importantly, utilize online marketing tools to increase their customer base and accelerate business growth.

There is no doubt that online marketing provides a myriad of benefits for small businesses. However, an important tool that online marketing equips small businesses with is business analytic tools. Business analytic tools are very vital for your small business as they help businesses track and monitor their online marketing efforts using real data.

The primary purpose of business analytic tools is to help small businesses with an online presence monitor their website activities and performance of marketing efforts across social media platforms e.g Facebook, Instagram, Twitter etc. It is no news that many businesses have a website and multiple social media accounts where they promote their goods and services.

There are many business analytic tools (e.g Google Analytics, Hubspot, Facebook business suite etc.) utilized by businesses across the globe today and through these tools small businesses are able to enhance marketing efforts, increase conversion rates and refine their products and services.

Benefits of using analytic tools for your small business.

There are many advantages of using business analytic tools for your business. Few of these advantages include;

1). Improved marketing efforts: Many online businesses advertise their products and services through multiple social media platforms and unlike traditional channels of marketing, online marketing tools enable small businesses to see real details of how customers interact with their brand. Through business analytic tools, small businesses are able to obtain data through which they can measure the effectiveness of their online marketing efforts. Business analytic tools like Google Analytics provide small businesses with real data that enables them to determine which campaigns drove the most traffic on their website, what people are saying about their website, which keyword searches resulted in a visit etc. Using data obtained from business analytic tools, businesses are able to make informed marketing decisions that yield great marketing results.

2). Better customer experience: An important duty for every business, whether small or big, is to create a seamless user experience for visitors and customers who visit their website. It plays a vital role in providing great customer service. Using business analytic tools, small businesses are able to track and address the unspoken grievances of their Web visitors and customers. As a small business owner, you are able to track and understand customers’ journey on your website because business analytic tools reveal key details of your website visitors and customers. Demographics, Average time spent, bounce rates, location of your site visitors are a few of the information provided by business analytic tools. Small businesses are able to make data driven decisions that enhance user experience on their website through business analytics.

3). Improved decision making: A major advantage of using business analytic tools for your small business is that it helps small businesses make informed and data-driven decisions. Most social media channels provide businesses with free analytic data that helps them determine what online marketing strategy works best for the business. For businesses who market their product and service on various online channels, business analytic tools provide useful information like which of your online channels your customers interact with the most, which marketing channels are worth investing more in or the section of your website your visitors interact with the most. Using data derived from business analytics, businesses can make necessary changes to improve areas of their website that need improvement.

4). Know your site visitors: Businesses who make an effort to know their site visitors end up providing excellent user experience. The great thing about using business analytic tools for your business is that it provides useful information that helps you discover who is interested in your offerings and purchasing your product. Business analytic tools reveal useful information like Average time visitors spend on your website, What devices site visitors are using to visit your site, location of visitors etc. Through this information, you are able to piece together useful details that help you understand and know the people visiting your site.

5). Track Bounce Rate: The bounce rate of your website basically means the percentage of visitors who visit your site and leave without converting or interacting with your website. If your website has a high bounce rate, it could be due to reasons such as speed issues, poor user experience and a bunch of other reasons. Having a high bounce rate can be detrimental to business growth and can harm your finances if it persists for a long time and that is why it is important for businesses to be familiar with business analytic tools because they can provide various insights as to why visitors are leaving your site without converting.

Business analytic tools are a great way to keep track of the effectiveness of your online marketing efforts. These tools provide data that helps small businesses make better decisions that can accelerate business growth.

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Today, the growth of your small business goes beyond marketing your products and services effectively and having a fantastic website, it is also essential to have a payment system that caters to the needs of your business operations. Whether you have an online store or a brick-and-mortar store, integrating a trusted payment processing platform into the financial operations of your business is crucial to its growth.

Many small businesses experience challenges in the early stage of business but a major challenge is due to not having a reliable payment processing platform that ensures that the entry and exit of money is hitch-free. As a small business owner, it is important to find a reliable payment gateway provider for your business as it plays a major role in supporting your business growth. If you own a small business or you are considering starting one but you are unsure about how to accept payment from customers easily, I have the perfect solution for you — Vella

Vella is a convenient payment platform that provides a secure hybrid-payment gateway for small businesses in Africa to perform financial transactions seamlessly. Through Vella’s robust range of financial products and services, small businesses in Africa can pay their international suppliers and accept payment at their physical and online stores in cash and crypto easily.

Benefits of using Vella for your small business

If you own a small business, either an online store or a physical store, integrating Vella as the payment gateway provider offers your business numerous benefits that accelerate growth and increase your customer base. These benefits include;

Multi-channel payment options: A common mistake many small businesses make in the early stage is limiting payment options for their customers. It is important for small businesses to provide multiple channels through which customers can complete their purchases conveniently. Vella offers small businesses a multi-channel payment solutions that enhance the purchase experience of customers on your online store. Using Vella, small businesses can accept payment from customers using payment links, stable coins, fiat, bank transfer and cryptocurrency. For small businesses that do not have an online store but a physical store, Vella enhances in-person payments via POS that not only accept cash but also accept Crypto.

Cost-effective: While transacting on some digital payment platforms might be costly and harm your finances in the long run, Vella provides a platform with service fees that cost next to nothing during online transactions. Whether you want to pay your international suppliers or accept payment from customers in any part of the world, Vella offers small business owners flexible services fees that are way cheaper than alternative payment gateway providers(e.g. PayPal). Another plus to using Vella for your business is that sending money to your Chinese suppliers is cheap as Vella offers low and friendly exchange rates on payments to China.

Quick Bills Payment: As a small business, paying utility bills and online subscriptions is inevitable as you need to keep the lights on and make use of digital tools for business operations and most times, these digital tools require money to keep them running. Vella offers a simplified bill payment service that enables small businesses to pay utility bills on the go using cash or crypto. Small businesses who market their products and services via Facebook and google ads can renew ads subscriptions securely and seamlessly using Vella multi-currency virtual card.

Pay your international suppliers seamlessly: Many businesses in Nigeria import goods from international countries but always encounter challenges during payment. The good news is Vella is a great way for small businesses to pay their international suppliers in over 80 countries seamlessly. Using Vella, small businesses can skip the $20 limit on international spending and make secure payments to merchants in international countries like the UK, China, Canada, US etc. using their mobile device. A plus to using Vella for your small business is that Vella offers friendly exchange rates on international transactions compared to other digital payment platforms.

Security: In recent times, many people are skeptical about patronizing online stores because of the fear of their sensitive card details getting shared with third parties or mistakenly falling into the hands of fraudsters. Using Vella for your business is a great way to protect your business and customers during any online transaction. With Vella, customers do not have to worry about their sensitive details getting shared with third parties because Vella does not share sensitive payment details of buyers with the sellers.

With Vella, small businesses can enjoy total financial freedom, send and receive money seamlessly and pay bills on the go!

Download Vella on your mobile device today!

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There is no doubt that electronic mails have become a part of our everyday lives. Many people across the world rely on emails for a variety of functions that include communicating with people, verifying social media accounts, signing up on platforms, shopping on international stores etc.

In the world of business, emails serve an even greater purpose. Thousands of businesses across the world utilize emails as a marketing tool to increase customer base and accelerate business growth because emails are a great way to communicate with customers regardless of the scale of business.

Email marketing can be defined as a form of direct marketing that involves using personalized emails to promote your business’s products and services.

Over time, Email marketing has become the most preferred form of digital marketing because, unlike other forms of digital marketing, email marketing enables business owners to communicate with a large number of customers easily and regularly. Mailchimp, Hubspot, Omnisend, Sendinblue and a host of others are examples of email marketing tools that enable you to plan, execute and monitor email marketing campaigns for your small business.

Benefits of Email Marketing For Your Small Business

1). Low cost: Email marketing is a great way to save time and money. Compared to other marketing channels, email marketing is also the most cost-effective way to generate more sales for your business. Through email marketing, You can reach a large number of your leads and customers for a small price. For small businesses who can’t afford expensive marketing strategies, email marketing is one of the cheapest ways to communicate with your customers and give them updates about your product and service.

2). Increased Web Traffic: A major benefit of integrating email marketing into your small business is that it can be used as a tool to drive traffic to your business website especially if you run an e-commerce store. Through email marketing, you can drive customers to your site by inserting the link of your website in your email content. For instance, if you send out emails informing customers about a new product or service, you could insert a link to your website in the email content that tells them to click on the link if they want to learn more about the new product or service.

3). Stay connected to leads and clients: Another benefit of using email marketing for your business is that it helps you stay connected to your leads and customers. Unlike other marketing channels, Email enables you to make your customers feel special through personalized messages like “Hey Binta, we have an exclusive offer for you”. Customers who have signed up to your emails can receive regular updates about your products and services, get notified about discounts and offers, rate shopping experience on your site, give you feedback on your product or service etc. Email marketing is an ideal tool for boosting engagement with your customers.

4). Targeted and Personalized contents: Sending the same message to your customers consistently might decrease your brand appeal and increase the number of un-subscribers. The beauty of integrating email in the marketing strategy of your business is that it allows you to create personalized messages tailored for different segments within your email subscriber list. Customers who receive relevant messages about your product and service are more likely to patronize because targeted emails address their concern at that time.

5). Track Metrics : Using email marketing tools is a great way to track your growth and discover what works for your business. Email metrics are the key performance indicators (KPIs) that tell you how many people are looking at your emails, opening them, and clicking through them. A great thing about using emails as a marketing tool for your business is that most email marketing software will enable you to make decisions based on hard data obtained from analytics. Through analytics obtained from email marketing tools, You can see how well a campaign is doing and if your emails are being effective.

Promoting your small business using email marketing is a cost-effective way to build your brand and communicate effectively with your prospects and customers.

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One study shows that 71% of small businesses have a website through which they showcase their product and service, share high quality contents that are product-centric and release updates about product and service. In modern times, having a business website has become a necessity as it contributes to the growth of a business. It is important for a business to focus on building a brand website that is top-notch as it is the first place a visitor gets to create a first impression about your brand.

A poorly designed website will always be a turn-off for potential customers. A study shows that 38% of people will stop interacting with a poorly designed website and this can be detrimental to the growth and finances of your business. If visitors experience difficulties in loading or navigating your website, finding information about a product on your site or something as simple as making a purchase, there is a very high probability that they will never visit your website again.

A website redesign is a perfect way to improve the shopping experience for your customers. A website redesign involves making significant improvements to elements (content, visuals, structure etc.) on your website to improve your brand appeal. Many businesses fail to recognize when their business website is due for an upgrade and the failure to recognize can lead to an increase in bounce rate because customers will be facing a website that is visually un-appealing with outdated elements. And this is why it is important for businesses to redesign their websites at least once in every one or two years.

Benefits of Redesigning your Business Website

Redesigning your business website offers a plethora of advantages to your business that goes beyond giving your website a fresh feel and look. There are other major benefits that a website redesign offers your business and they include;

1. A boost in conversion rate: If your business website poses a challenge to your customers whenever they want to make a purchase or find information about a product, they are more likely to never return to your website and even worse, patronize your brand. A website redesign is a great way to solve website issues that make visitors unhappy. Redesigning your website gives you an opportunity to fix issues that confront your web visitors during any activity on your business site. This can lead to an increase in your profit as customers will be able to complete purchases via your website with ease.

2. An opportunity to make your website responsive: Having a website design that is suitable for a particular type of device only is a major way to hurt your business in the long run. With the use of smartphones increasing rapidly, it is only wise that your business website looks good on all screen sizes and devices. A responsive web design is what your business needs to achieve this. With a responsive web design, existing and new customers can visit your website across a wide range of devices and this can be highly beneficial to your business because it provides a better online user experience for your visitors and regular customers who use their mobile device to visit your site.

3. Enhance user experience: Visitors having a hard time navigating your website can be bad for your business. Redesigning your website helps you do away with the small and big issues that might be affecting conversion on your site. Littering your website with high-quality content and a fast-loading website are ways to improve user experience. Also, a website redesign gives you an opportunity to fix issues that your customers might be complaining about frequently. Issues such as being stuck on the checkout page or finding it difficult to load a page. All grievances of your customers can be solved with a website redesign.

4. Evolve with trends: An ugly and outdated website is a total turn-off for existing and potential customers and that is why it is very important for you to integrate modern design trends and features that give a fresh feel and look to your business website. This is one way to maintain customer loyalty because if your customers find your website visually appealing, they will keep patronizing your business and even refer your services to people who might be in need of them. A visually appealing website should consist of modern designs, high quality pictures, videos or graphics, clear call to action buttons, easy to read fonts and most importantly simple color schemes.

5. Improve your website security: Providing your customers with a secure website is a great way to improve their purchase experience on your site as they do not have to worry about being susceptible to fraud or their sensitive details being shared with third parties. Website redesign gives you a chance to install or upgrade security measures that offer merchant and buyer protection during transactions on your website.

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Billionaire Tech Entrepreneur, Elon Musk, announced via a tweet on Friday that his satellite internet service, Starlink, has been approved by the Nigerian government to begin operations in the country. The news came as a slice of hope and excitement for many Nigerians because this might be the solution to the epileptic services offered by existing Telecommunication companies (MTN, Glo, Airtel, Etisalat).

Launched by spaceX, the satellite internet service is designed to provide high speed internet to its users, regardless of their location. According to Elon Musk, “Starlink will serve everywhere on Earth that we’re legally allowed to serve”. So, this simply means that whether you are in a rural or urban area, you can get access to the premium internet coverage rendered by Starlink. Its internet coverage is said to have an internet speed of about 160 MBPS and enables streaming, video calls, messaging and other data consuming activities.

Although this news comes at a time when Nigerians seek a better replacement for current internet service providers, Starlink might cost an arm and a leg for the average Nigerian. Currently, it costs about $599(about 360,000 Naira) to purchase the entire setup equipment, after which users pay a monthly subscription fee of $110(about 66,000 Naira). Aside from the steep pricing, the international monthly spending limit of $20 poses another challenge for Nigerians who might be able to afford subscribing to Starlink. The good news is Vella got you covered!

Pay for Starlink with Vella easily!

Vella is a simplified digital payment solution that enables a wide range of financial activities and offers amazing benefits to individuals and businesses in Africa. With Vella, you can send money locally and to over 80 countries across the world in minutes, pay your Chinese suppliers easily, swap currencies with just a few clicks and pay your utility bills using cash or crypto currency. Aside from the wide range of benefits that Vella offers individuals and businesses, a major benefit is the Vella virtual dollar card that costs $2.

Currently, Starlink has not begun operations fully but is available for pre-order. You can head over to their website to pre-order the service for just $99 using your Vella dollar card to make payment easily. Our multi crypto-currency cards enable users to pay in both cash and crypto on international sites that accept Mastercard. To pre-order, head over to the Starlink website, fill up the location where you want the service to be delivered, click on “Order Now” and enter your service information and billing information.

To pre-order Starlink with a Vella dollar card, all you have to do is;

- Download Vella on your mobile device

- Complete the verification process and proceed to dashboard

- On your dashboard, tap “Create Virtual Card”

- Fund your virtual dollar card with sufficient amount

- Head over to Starlink website — https://www.starlink.com/

- Fill-in your service address and tap “Order Now”

- Enter your service information.

- Input your Vella virtual dollar card details in the billing information section.

- Tap “Place Deposit”

You can create a virtual card on Vella to pre-order Starlink now.

To access more of the seamless financial services we offer, download Vella App on your mobile device and sign up to create a virtual dollar card today!

Marketing is a fundamental component of every business as it helps to inform the public on what your product or service entails, strengthen your brand and boost your revenue. Many business owners struggle with marketing their products and services effectively to potential customers due to poor marketing strategies or not utilizing the right marketing tools.

Back in the days, before the arrival of social media, businesses relied upon word of mouth and mass media forms such as Radio, Television, Newspaper etc. to spread information about their product and service to the public. Although these forms of mass media helped reach a large portion of the public, businesses were not able to streamline their marketing efforts to target the right audience.

The presence of social media brought about a dramatic change as it revolutionized how businesses marketed their products and communicated with customers. Social media platforms like Facebook, Instagram, YouTube, Twitter etc. are powerful tools used by businesses all across the globe to market products, build brand trust and engage with customers effectively. Using social media platforms for your business has an array of advantages that support business growth.

WHY SHOULD I USE SOCIAL MEDIA PLATFORMS FOR MY BUSINESS?

Social media platforms provide business owners with a plethora of benefits that support business growth and increase profit. Below are the benefits of integrating social media into the marketing operations of your business;

1). Create brand awareness — An important marketing goal for every business is to have brand recognition and spark the right conversations centered on their product in the public space. Social media platforms are a great way to build and grow awareness around your product and service. Using social media platforms like Facebook, Instagram, Twitter, LinkedIn etc., businesses can create and share high quality contents (Videos, Pictures, Reels etc.) that produce results that are beneficial to business growth.

2). Build and Enhance customer relationships — In recent times, customers have utilized social media as the fastest means of getting across to their favorite brands. Gone are the days of having enquiries unanswered or not having an avenue to express your dissatisfaction about a product or service. Through social media platforms, customers can get quick responses to their queries or enquiries and even share reviews about your product and service. Also, social media platforms provide an avenue for business owners and customers to be in constant communication as this helps to build trust and loyalty for both the business and customer.

3). Increased Web Traffic: If your business has a website, social media is a great way to drive customers to your website. Whether your business has an online store or a brick-and-mortar location, social media is the quickest means to lead visitors to your brand website to learn more about your product and service. For instance, let’s say you have an exciting new product that you want to introduce to the public. Using social media, you can post a picture or explainer video centered on the product and then insert a link on the post that takes people to your business website to learn more about that particular product. See, it’s simple!

4). Provides a platform for brand storytelling: A great marketing strategy that customers do enjoy but many businesses do not implement is brand storytelling. The act of connecting your product and service to interesting stories is a great way to engage your audiences and increase awareness for your product and service. Social media provides your business with a platform to tell and share engaging stories of your products and services to your customers. Through storytelling on social media channels, you can humanize your brand, increase audience engagement and build an online community around your brand. Brand storytelling can happen in different forms that include incorporating videos, photos, fictional characters to tell a story centered around your product or a quick video highlighting why you started your business and what purposes your business aims to serve.

5). An avenue to source and share content: A plus to using social media for your business is that it helps you source for content ideas and share those exciting contents with your existing and potential customers. These content ideas can be sourced via feedbacks from your customers, Instagram polls, Exciting Q n A sessions etc. Social media also gives you an opportunity to see what your competitors are up to and what kind of contents they produce that might be working for them. Another plus to using social media for your business is that it makes promoting contents fun, easy and cheap. Using social media, you can promote your product-centric contents on various channels from the comfort of your mobile or desktop for free.

6). It’s cost-effective — Unlike mass media forms that involve paying for an ad slot or space on Tv and Newspaper, social media platforms do not necessarily require payment before you can advertise your business. All you need is a smartphone and Internet connection. Although social media platforms like Facebook have effective business tools that require you to subscribe for them monthly, you can still promote your business for free without using these online business tools and get your desired marketing result. Using social media for your business is a cost effective means of marketing your product and service to a wider audience online.

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Businesses need money to function. Hiring new employees, buying office supplies, paying merchants for goods, subscribing to online business tools are a few reasons why businesses need unlimited access to financial resources. Entrepreneurs, especially in Nigeria, face many challenges and most times, these challenges arise due to lack of funds required to run the business.

In today’s article, I am going to be discussing a major business tool, Loan, and why it can be beneficial to your business regardless of the risk attached to it. There are various kinds of loans that serve different purposes for individuals and businesses. Such loans include student loans, payday loans, mortgage loans, auto loans, personal loans etc., but for the purpose of this article, I’ll be focusing on the one that concerns entrepreneurs, business loans.

Forbes defines a business loan as a type of commercial financing qualified businesses can get from traditional banks, online lenders and credit unions. Primarily, business loans are intended to provide additional funding for entrepreneurs who are overwhelmed with business expenses. It is important to note that financial institutions grant loans to businesses who they consider eligible based on some factors which include; Cash flow and income, Value of Collateral, Age of business enterprise etc.

The Benefits of a Business Loan

Business loans are a powerful financial tool that provide a plethora of benefits to all scales of businesses and although they come with a level of risk, they can be very instrumental to the lifespan of a business. The benefits of a business loan include;

Business loans can be used for expansion — If you are considering opening another retail outlet or adding a new product to your existing range of products, a loan can be a great way to finance these upgrades. Expanding your business plays a crucial role in growth and increasing your customer base which leads to a boost in your profit. With a business loan, digging into your operational funds or business profit is evitable because the loan covers the expenses for expansion. So, you can manage your existing business and expand to another location without financial stress.

Business loans can be used to purchase machinery- For a business to operate smoothly and provide maximum satisfaction for its customers, it needs machinery to create products or tools to render services. A business loan always comes in handy for business owners who, due to inadequate funds, struggle with buying new tools or paying for regular routine maintenance for existing machinery needed to create products or render services to customers. If your business is not in a great spot financially and you need to purchase new equipment or conduct routine maintenance for your current equipment, you should consider applying for a loan from a credible institution that offers convenient repayment terms.

Business loans can be used to pay for new hires — Hiring new employees is inevitable, especially if your business is experiencing rapid growth. New hires can be beneficial to your business because they bring fresh and innovative ideas that aid business growth. Many entrepreneurs grapple with too many things on their plate and overwork their existing employees because hiring new staff is expensive. The cost of hiring new employees goes beyond salary. Other costs include benefits and compensations, training etc. A business loan is a smart way to relieve the financial burden of hiring employees or freelancers. With a business loan, entrepreneurs can sort other expenses that help new hires increase productivity.

Business loans can be used to improve your marketing strategy — The growth of a business depends largely on its marketing efforts. A rich and effective marketing strategy will boost revenue and increase customer base. With the presence of social media platforms, businesses can create awareness for their product or service online and reach a wider audience. However, these social media channels not only help businesses advertise, they also provide digital tools that aid business growth. Although these tools are beneficial, they can be expensive to renew monthly. With a business loan, entrepreneurs can cover a variety of marketing expenses to boost their services.

Business loans can be used to cover operational expenses — Businesses spend money daily to provide service for their customers and operate smoothly. With a business loan, businesses can finance their everyday operations and fund short term expenses such as Rent, Payroll, buy office supplies and in some cases, emergencies that occur during working hours.

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Whether your business is an online store or has a physical location, accepting payments online is a great way to improve the purchasing experience for your customers. Over the years, Businesses, especially those in the e-commerce sector, integrate online payment systems on the checkout page of their website to ensure security and convenience for customers during payment. The various modes of online payments have become the widely used and most preferred means of businesses accepting payment from customers. However, an important component of an online payment system is a Payment Gateway.

Investopedia defines Payment Gateway as a technology used by merchants to accept debit or credit card purchases from customers. Payment Gateways can either be API-integrated (Customers make payment on one page and are not rerouted to more pages) or Hosted (Customers are rerouted to more pages to complete payment).

There are factors to consider when choosing a payment gateway provider for your business but the 3 major factors to consider include;

Security - A payment gateway provider should enable secure payment and possess a fraud detection feature.

Agreement and Service Fees - You should consider how much the gateway provider charges per transaction and if the terms & conditions are reasonable.

Location - You should consider the location as different regions may prefer different payment gateways.

The Benefits of Using a Payment Gateway For Your Business

Fast Payment Processing: A key advantage of using a good payment gateway for your business is that it ensures that entry and exit of cash in your business operations are hitch free. Payment gateways are the fastest means of processing card payments and this is particularly a major benefit for businesses, especially those that accept payment online. Integrating a payment gateway into your business is also a great way to improve the shopping experience for your customers as transactions are quicker and secure compared to manual processing.

Decrease in failed transactions: A declined transaction is one of the fastest ways to kill the shopping experience of a customer on your site and this also signifies a loss for the merchant. Using a good payment gateway for your business helps to reduce failed transactions on your site as they ensure that the card being used for online payment is valid. This helps to protect merchants against cases of fraud, expired cards and insufficient funds.

Expand Your Business Internationally: Many business owners stay away from expanding their business across international borders due to the stress that comes from receiving international payments. However, if you are considering expanding your business internationally, you might want to consider using a payment gateway. With a good payment gateway, you can accept different currencies from any part of the world seamlessly. Customers can shop on your website, add to cart and pay via any payment method of their choice listed on your checkout page via the payment gateway provider.

Quality Customer Experience: Integrating a payment gateway into your business is one way to improve the purchase experience for your customers. This simply means that choosing a good payment gateway that makes it easy for customers to pay for goods and services is very essential to the growth of your business. Most business owners offer better purchasing experience for customers by using API integrated payment gateways because the customer enters all information necessary for making payment on one-page. This helps to make payments easier and quicker for customers.

Reduces Risk of Fraud: Ensuring that your business provides buyer protection during every payment on your website is very essential. It is no news that fraudsters are relentless in finding new ways to con merchants and individuals of their cash. Using a payment gateway is one way to ensure merchant and buyer protection during a transaction. A good payment gateway securely transfers the credit card details entered by a customer to the merchant and through the use of encryption the merchant securely transfers the details to the payment processor. This ensures that sensitive details aren't exchanged between merchants and customers during payment.

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A decrease or stagnancy in the cash flow of a business is a major wake-up call for every entrepreneur. Many businesses depend on the revenue obtained from sales of products and services to operate smoothly. However, in many cases, a budding business might experience a period when cash flow starts to depreciate or stall due to a reduction in patronage or total absence of customers.

It is not abnormal for a business, especially a start-up, to experience negative cash flow at some point. However, a negative cash flow for a long period of time is a clear indication that something is wrong and effective changes need to be made in the operations of your business immediately. In today’s article, I am going to be highlighting reasons why your business might not be making money irrespective of how much time and energy you put into it.

Reasons Why Your Business Is Not Making Money

Here are a few reasons why your business might not be making money;

Lack of an online presence: The absence of an online presence for your business can be a major reason why your business is not expanding its customer base hence your reason for not making money. In modern day businesses, social media channels have become the “digital marketplace” for many entrepreneurs to promote their products and services easily. Whether your business is a physical store-front or an online store, having a digital presence gives you an opportunity to grow your business and make your brand appealing to potential customers. As an entrepreneur, a strong online presence for your business provides easy access to a wider reach for customers, an avenue to market your products easily and a platform to interact with existing customers and showcase your products/services. It is also important to note that social media platforms like Facebook provide useful business tools for entrepreneurs that support business growth and increase customer base which automatically yields profits.

Great product, Terrible Marketing: A lot of great products have failed due to poor and ineffective marketing. Marketing your products poorly is another reason why your business might not be bringing in profits. Many business owners are more concerned with making money and do not focus on implementing effective marketing strategies that will be beneficial to the growth of their business. It is important to note that marketing is an essential component of every business because it allows you to create awareness for your product and also provides the platform through which your products are showcased to the general public. If the marketing strategies for your products or services are not planned and implemented properly, it will result in a downturn of customers and revenue.

Bad spending habits : As a business owner, bad spending habits will always have a negative impact on your finances. A major red flag in the operations of any business, especially one that is still in its early stage, is spending excessively on things, people and services. If you are an entrepreneur experiencing a decline in profits, you might want to cut down on unnecessary bills eating into your revenue. Many new businesses tend to spend money on things or services that are not essential in the early stages of a business. For instance, buying fancy equipment that is way too pricey, employing excess staff, online App subscriptions that you keep renewing monthly but your business never uses and a bunch of other pricey services your business pays for but doesn’t necessarily need. If you are a business owner interested in putting your finances back in shape, creating a scale of preference for your business is a great way to prioritize your business needs over wants. You can also manage your finances by creating a budget and sticking to it as this always helps to curb bad spending habits.

You Do not Track your Expenses: Not keeping an eye on your business expenses might be another reason why your business is not making money. Keeping tabs on the money that enters and exits your business is a great way to monitor and analyze your finances. Many business owners do not pay attention to what they spend money on monthly/yearly rather they focus on recording sales and keeping a bunch of receipts only. As a business owner, tracking your expenses is important because it helps you to reveal spending issues that are detrimental to increase in your finances. Tracking your expenses daily also gives you an insight into what your business spends daily to keep it running smoothly and this enables you to make informed decisions on where more or less expenses should be applied to. With the presence of numerous business softwares like Quickbooks, Expensify etc at the disposal of business owners today, tracking your business income and expenses involves less paper work and is much more effective.

Your Pricing is too low or too high: In the world of business, the price of your product plays a major role in determining whether or not customers will buy your product. If your pricing is too high, your customers tend to jump ship by patronizing your competitors who sell similar products at a lesser price and if your pricing is too low, it will hurt your business finances because you will be running at a loss. As a business owner, there are many factors to consider when adding a price tag to your product or service. However, an effective method that will help you to make informed decisions on the selling price of your product or service easily is the Cost-plus pricing method. It is a pricing method that involves adding the total costs of bringing your product to market, setting your profit margin on those expenses and the resulting number ends up being your selling price. With this pricing method, you can be sure of making profit and selling your product at a good rate.

It is important to note that negative cash flow doesn’t necessarily signify the death of a business. However, business owners should keep tabs on every component of their business as each component plays a role in determining increase or decrease in the finances of the business.

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Starting a business from scratch is hard but finding new ways to improve your products or services to boost sales and increase your customer base is even harder. From hiring team members to marketing your products — all business components require resilience, hard work and a couple of sleepless nights.

As a business owner, prioritizing the growth of your business is one way to ensure the longevity of your brand. Finding new and creative ways to boost sales not only increases cash flow but also maintains your brand appeal to new and existing customers. In today’s article, I have put together helpful tips that can help you actualize business growth.

These are some simple yet effective strategies that will help your business grow;

Provide Quality Service for your Customers: A happy and satisfied customer is one of the quickest ways to put your business out there. When your customers are happy due to the great service your business provides, they tend to refer your business to other people who might be in need of your service. As a business owner, you can attest to the fact that word-of-mouth referrals go a long way in helping your business gain more customers. Another major benefit of providing quality service is that your customers would always choose your business over your competitors. Offering quality products or services is a great tool for business growth as it not only increases your customer base, it also ensures loyalty from existing customers.

Use Social Media Channels: Marketing is an important tactic for your business as it plays a major role in creating awareness for your product or service. Thankfully, social media platforms like Facebook, Instagram, Twitter etc have provided convenience for business owners to advertise their products effectively. Using social media to advertise your business has numerous benefits that support growth in your business. Integrating social media into your business operations offers your business a platform to build solid relationships with your customers. Social media platforms also give you an avenue to showcase your products or services. With regular posting of your products, marketing through paid advertising, using Story/Reels feature and a bunch of other exciting tools on these various channels, staying top of mind of your customers is guaranteed. The integration of social media channels into your business operations greatly influences your business growth as it attracts more customers and helps your business stay top of mind of potential and returning customers.

Revamp your business website: Many business owners create websites for their businesses. If you are one of them, I would advise that you pay more attention to the first place people land on when they search for your business online. The website of any business creates an overall impression of that particular business to visitors of the site. Your business website should be easy to navigate and visually appealing to visitors and existing customers. To keep your customers engaged every time they visit your website, you can make your website responsive, display clear pictures of your products, showcase latest reviews from satisfied customers and include relevant contents that center on the benefits of patronizing your brand. Updating your website frequently with new information is also a good way to keep your customers in the loop. For instance, if you have a new product in stock, your website is a great way to introduce the product to new and existing customers.

Networking — Good networking is an essential aspect of business growth. In the world we live in today, networking is an effective tool for business development. As a business owner, networking opens your business to a world of opportunities. Via Networking, You form relationships with other entrepreneurs who can give you useful tips for business growth. Interacting with people in like or related fields also aids personal and career development for you. A fun way to network is by attending seminars or live webinars. Through these, you can meet other entrepreneurs or mentors in your line of business and gain insightful ideas or tips on how to take your business to the next level.

Use Business Analytic Tools: As a business owner with a website and social media pages for your business, monitoring your business analytics is a smart way to track your business growth. Business analytic tools help you measure your business performance and make intelligent decisions based on the data gathered. Social media platforms like Facebook, Instagram, Twitter etc. have data analytic tools that help business owners evaluate and make informed decisions on how to increase conversions. With the right business analytic tools (e.g. Google analytics), you can keep track of your business growth, marketing tactics that work and do not work, figure conversion rate, find out what devices visitors use on your website, countries your website visitors are from etc. Take advantage of analytic tools on social media platforms of your business.

Although, business growth doesn’t happen overnight, these business growth strategies will provide clear progress if implemented properly.

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We are happy to re-introduce Vella to you!

Vella aims to provide alternative payment solutions for Medium and small scale businesses in Africa by bridging existing TradFi and remittance gaps with cryptocurrency rails.

Through our web and mobile applications, small business owners get a simple yet powerful system that simplifies digital finance, accelerates growth, and boosts their earnings.

With Vella offerings, business owners are able to:

- Make quick local and cross border payments to suppliers

- Receive payments and settlement via multiple channels, fiat and stablecoins

- Maximize profit through stable and high-interest rates from crypto index funds and Defi lending markets.

- Access credit facilities via overdrafts and loans without collateral.

At Vella, we believe the future of money is Peer 2 peer transfers, digital multi-currency wallets and Cashless transactions.

We are enabling users to

Pay:

Simplified Cross border payments

- Enable payouts to local and international (via Wire transfer) suppliers in over 80 countries.

- Multicurrency virtual and physical cards for online/offline payments.

- Bills and utilities

Get paid:

Merchants can accept;

- Virtual bank accounts (Nuban/IBAN)

- Hybrid payment gateway (Fiat and Crypto)- API, payment link, plug-ins (Shopify & WooCommerce/WordPress), invoice.

- Offline retail payment/POS

- Settlement in Stablecoins and bank account (wire)

Access to Credit:

- Loans/overdrafts — Our users will have unlimited access to loans and overdrafts to build on their existing businesses.

- Staked loans ~ (lower interest rate) — Users will have access to staked loans at a very low interest rate.

- High-yield earnings (Savings) 15% APY — Users will have the opportunity to invest and earn yields in high yield dividend stocks.

Join us! Experience first hand how we’re providing alternative payment solutions and credit facilities for individuals and business owners in Africa.

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Running a small scale business in Nigeria is very challenging. Every day, small business owners confront issues ranging from unfavorable government policies to high exchange rates in the market, amongst other pressing issues. However, a major challenge that still plagues small business owners is the issue of finding a payment processing platform that solves, if not all, but a large chunk of the major concerns shared by entrepreneurs, when it comes to accepting payment from customers.

Today, in the world of business, digital payment platforms have experienced massive growth. Small business owners integrate the services of online payment platforms into the financial operations of their business as a means of providing new and improved payment solutions that are reliable, secure and convenient for the business and customers. Although digital payment platforms support the smooth operation of a business, they are not void of issues. Security risks, processing costs and integration issues are a few payment processing challenges that confront small businesses.

When choosing a payment processing platform for a business, the most important thing to consider is how the services of your choice of payment platform best suits your kind of business. For the purpose of this article, I am going to be focusing on Vella and why your small business needs to use Vella.

Here’s why you should use Vella as your payment solution.

Whether your small scale business involves selling physical products in-person or online, Vella offers payment processing services that help increase productivity and enhance efficiency in your business.

Vella is a great payment solution that enables small business owners to accept payment from customers globally, pay the utility bills of your business seamlessly and send money to your suppliers in over 80 countries.

Below are a few reasons why you should use Vella in the financial operations of your small business;

A Secure Means of Payment: In modern businesses today, online payment platforms which are susceptible to fraud are integrated into the operations of a business. And that is why using a digital payment platform that guarantees security during every transaction is key. Integrating Vella into the financial operations of your business is a great way to protect your business and customers from fraud. Small businesses who adopt Vella as a payment platform can be sure of one thing - Every transaction is secure. With Vella, online transactions come with an added layer of security in the form of an email notification every time you log into your account, OTPs and your Vella Transaction Pin different from your regular banking pin. Buyer and merchant protection is 100% guaranteed during payment as Vella does not share sensitive information between both parties.

Accept Payment From Customers in Cash or Crypto: An important aspect that increases cash flow and contributes to the growth of a business is the ability to accept payment from customers without any hitch. Vella is an online payment platform that caters to the needs of small business owners when it comes to receiving payment. Whether your customers are based locally, internationally or both, Vella gives your business flexible payment solutions that help you receive payment with ease. With Vella, you can receive payment in cash or cryptocurrency from customers.

Pay your Merchants in China Quickly: As a small business owner, buying goods from other merchants is inevitable. The “common marketplace” for most business owners in Nigeria is China as goods imported range from hair to electronics to beauty products etc. And a common challenge faced by these small business owners is the steep exchange rate incurred on Chinese currency, Renminbi. Whether you are importing goods from China in small or large quantities, Vella is a simplified way to pay your Chinese merchants seamlessly. A major benefit of using Vella for your business is that you do not have to worry about high exchange rates or bank charges as the exchange rate for payment to China is cheap on Vella compared to other payment platforms. Another plus to using Vella is that both you and your supplier get to transact on a secure platform as sensitive information of both parties are protected.

Multiple Payment Options for your Customers: Customers love having options. They love a business that provides flexibility for them when it comes to making payment for a physical product or service. Choosing Vella as the payment solution for your business provides multiple payment options for your customers. Customers are not restricted to paying for products with cash only. With Vella, customers can pay for your products or services via cash, crypto or virtual dollar card. The beauty of Vella is in the fact that all payment methods attract low transaction fees.

No or Low Transaction Fees - Unlike Paypal that charges almost an arm and a leg for every transaction, Vella costs next to nothing per transaction. For small business owners who want a payment gateway that is cheap and void of hidden charges, Vella is the ideal payment gateway. An interesting thing to note is that transactions between Vella users are absolutely free.

Grow your Business - There are many ways to grow a business but integrating better means of accepting payment from customers is one of the fastest ways. As a small business owner, Using Vella as an online payment gateway for your businesses not only guarantees efficiency and productivity in the financial operations of your business, It also supports your small business in the course of reaching its full potential.

Ready to start using Vella in the financial operations of your business?

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Everyday, millions of people across the world buy, sell and transact with crypto currencies from the comfort of their mobile device. According to Investopedia.com, crypto-currencies are digital or virtual currencies that enable secure online payments without the use of third party intermediaries. It is important to note that cryptocurrencies are not reliant on a central authority which simply means that they are not digital currencies maintained by a banking institution or the government.

There are over 3,000 different kinds of crypto currencies in the world today. An interesting thing to note is that although there are many cryptocurrencies, they all possess different functionalities. There are crypto currencies that function as stores of value and can be used as traditional fiat e.g. Bitcoin and there are some that have utility functions i.e. They allow other cryptocurrencies to be built on their network e.g Ethereum. Examples of other currencies include Tether (USDT), Binance Coin, Solana, Dogecoin etc. It is no news that cryptocurrencies have changed the game when it comes to cross border payments and paying bills online.

As a business owner in Nigeria, a host of factors determine what makes customers loyal to your business or brand. Quality products or service, customer satisfaction and affordable prices are all essential factors that play a vital role in making new customers return and retaining old customers. Moreover, the most important factor in ensuring loyalty from your customers is by providing payment methods that are new, fast and secure on the checkout page of your business.

Most business owners in Nigeria today use the widely accepted means of payment e.g. Paypal and credit cards to receive payments from customers locally and internationally. Although these methods of payment are regular and reliable, they do not provide the security that accepting payment in cryptocurrency offers. Businesses who choose to adopt cryptocurrency as a payment method must decide the crypto currency they will accept from customers due to the various currencies available in the world today.

Why Businesses should Accept Payment in Cryptocurrency

Accepting payment from customers in cryptocurrency might just be what your business needs as a payment solution notwithstanding its scale. Here are a few reasons why business owners should be open to accepting payments from customers in cryptocurrency;

Expand your business internationally — Most entrepreneurs in Nigeria would rather restrict their product or services within their locality than expand to international borders due to unfavorable currency exchange rates in the market. Accepting payments from customers in Cryptocurrency is an ideal way to escape the troubles of foreign exchange rates and ease into the international market which means higher profit and more customers for your business. Cryptocurrencies are global which means they are not restricted to a particular country or state therefore, as a business owner, adding cryptocurrency as a payment method on your checkout page not only gives your customers an alternative and secure mode of payment but also helps your business thrive.

Cryptocurrency Transactions are faster — Business owners who accept payments from customers via bank transfer or a digital payment platform experience delay when it comes to confirming payment especially if the customer is abroad. It might take a while for the money to reflect if it’s through bank transfer due to the terrible bank network of the sender or receiver while delay in transaction might be experienced if payment is made via a digital payment platform like Paypal due to the rules attached to international transfers. For instance, transactions on Paypal take a couple of days or an entire week to reflect. The best way to avoid the nightmares of international money transfer is by accepting crypto as a payment method via a trusted platform because payments are received within minutes as there is no third party or middleman involved. All both parties need are cryptocurrency wallets.

Convenience — As an entrepreneur selling a product or rendering a service online, it is your responsibility to ensure that your customers experience ease from the moment they log onto your website till they exit the check out page and that is why providing payment methods that are simple is crucial for customer satisfaction. Accepting payments in cryptocurrency from clients or customers not only offers a new and alternative means of payment but also offers protection for their information as sensitive details are not shared between both parties.

Protection from Fraud — Businesses, irrespective of the scale, handle a lot of sensitive information that if gotten into the wrong hands, can lead to the death of the business. There are plenty of measures business owners put in place to protect their businesses from fraudsters. Some of these measures include having a password policy, running regular employee background checks, protecting credit card details and bank accounts amongst others. When it comes to receiving payment from customers, cryptocurrency is a great way to reduce the risk of fraud. With cryptocurrency, both parties involved in a transaction do not need to share sensitive information and there are no middlemen or third parties involved like transactions via commercial banks. Accepting payment from customers in cryptocurrency is a great way to provide protection for your business and your customers.

Although accepting payment in cryptocurrency for your business is a great idea, It is important to find a platform that provides security and speed when it comes to transactions in cryptocurrency.

We are happy to introduce Vella Beta to you!

Vella is a platform that provides Borderless Transfers and Remittance for Africans

Allowing Users to immediately:

- Pay and receive money wherever with cash or crypto!

- Create cash and crypto multi-currency Virtual/Physical cards

- Pay Bills and Redeem Gift Cards with Vella.

At Vella, we believe the future of money is Peer 2 peer transfers, digital multi-currency wallets and Cashless transactions.

With Vella, We are enabling users to;

Send money to Africans using cash or crypto

- Our wallets currently supports NGNT, USDT and BTC.

- Seamlessly send money to any African bank or mobile money account from anywhere in the world using crypto without delays.

- Get the best exchange rate with no hidden fees. We will credit your recipient with the equivalent amount in their local currency once our Peer to Business system receives your transaction notification.

Pay international suppliers and merchants.

With Vella Finance, businesses in Africa can now send money directly to international suppliers and merchants across borders in countries like China, Turkey, Dubai, UK and the likes using cash or crypto wallet deposits. We credit merchants in their local currencies.

Create Crypto Powered multi-currency Virtual/Physical cards

- Vella cards are designed to be used for transactions and payment of goods and services anywhere in the world. You can create unlimited number of multi-currency cards and fund with Crypto or Cash.

- Pay subscriptions and run your Ads without interruption: Our card works with Facebook Ads, Netflix, Google Ads, Amazon, Apple Music, Spotify.

- Our cards offer the same level of security offered by any credit and debit cards from traditional banks but with better rates and much lower fees.

- Travel smarter, spend on your terms and shop securely on your favorite international online stores with Vella.

Airtime and Bills

- Buying Airtime and paying bills is easier with Vella. You can pay for your Cable Tv, Electricity, transportation and all other utility bills with Vella using cash or crypto.

Airtime4cash

- Vella lets users convert excess airtime of any mobile network in Nigeria to cash in less than 5 minutes.

- It is now possible to perform micropayments or reverse MTN, 9mobile, Glo and Airtel airtime to any bank account in Nigeria.

Vouchers and Gift Cards.

- Sending vouchers to loved ones and letting them exchange for cash is a breeze with Vella.

- Redeem and get the best money value for your local and international unused vouchers and gift cards. Enjoy high rates while you get the freedom to swiftly convert your digital assets to cash or crypto

Join us! Experience first hand how we’re bridging the gap between Payments and Transfers for Africa.

Get new updates by following us on Instagram and Twitter. We love to hear from you, send us a mail at hello@vella.finance.

In a world where money is constantly in circulation and expected to move at the speed of light, finding the perfect digital payment platform can be challenging irrespective of the numerous online payment platforms available in the world today.

There are various factors to consider when deciding on a digital payment platform suitable for your personal and business needs.

The first thing you want to consider is the Service Fee — What do I get charged to perform a simple transaction on the Platform? Secondly, you might want to consider Speed — How long does it take for a payment to reflect in the payee’s account and thirdly you want to consider Security — How safe and secure is it to input my personal details and carry out transactions on the digital platform? These are very essential questions which Vella would give you the best satisfying answers to.

And in addition to providing easy remittance for Africans, here are 5 reasons why you should install Vella on your mobile device;

Vella helps you move money quickly, regardless of your location — Having a digital payment platform that deeply cares about your money transfer getting to the recipient as fast as it can ever be possible is bliss, and that is a pleasure Vella provides for its users. Vella focuses on making easy payment methods available for individuals or businesses who transact in cash or crypto. With Vella, you can send cash or crypto to anywhere in the world via your mobile device without any delay.

With Vella, You do not need a bank — Everyone loves convenience and that’s one thing conventional banks do not preach. With Vella, you can say goodbye to ridiculous bank charges such as card maintenance fee, account maintenance fee and other unnecessary fees banks charge. Unlike traditional banks, moving money across the globe is seamless, low-cost and more secure on Vella. We also offer a robust range of financial products and services that businesses and individuals will find relevant to their everyday lifestyle. These services include paying utility bills, renewing music and movie streaming subscriptions, buying and sharing airtime with friends and family, redeeming gift cards among other services you get to enjoy if you install Vella on your mobile device.

We offer safe and secure transactions: For individuals and businesses, the concern regarding the safety and security of online transactions is inevitable. With Vella, you do not have to worry about your financial information being shared with a third party or seller because keeping your financial information and protecting you from fraud and identity theft is a priority to us. In a bid to ensure your transactions are secure, you get to create a pin that will be used for transactions on Vella, you also get notified via your email address provided every time you log into your Vella account. And with our KYC verification process you can be rest assured that your assets are secure. These measures are put in place to ensure that you make payments, shop online and pay bills without having to watch your back.

Our virtual card operations are seamless — Asides from the convenience that comes with not having to carry your wallet and ATM card around, virtual cards are a holy grail when it comes to making online payments. Vella crypto multi-currency cards will make your life easier and your data more secure. Vella lets you create an unlimited number of virtual cards that will enable you to carry out all kinds of transactions and make payment for goods and services anywhere in the world. Our virtual cards also enable you to pay for music and movie streaming services without any hassle.

Vella lets you save in USDT and gives you a 10% increase per annum — A great way to prevent your hard-earned naira from devaluation is by saving in USDT. With Vella, not only can you save in dollars, you also get a 10% increase per annum when you save in your USDT wallet. Funding your USDT account is also an easy way to send money to anywhere in the world. Plus, saving in USDT can also be a soft form of investment in the sense that when the value of dollar rises against your local currency, the value of your money is retained.

Download Vella on your mobile device to unlock these benefits and more.

Vella is available for download on Google Play store and Apple store.

Sign up is free!

Whether you are paying for goods and services, transferring money to your child, furthering their education abroad or something as thoughtful as sending money home for the upkeep of your loved ones, the need for a secure and reliable platform to perform these transactions is paramount and it is a common need shared by millions of Africans.

Every day, thousands of Africans face difficulty when making payments across borders due to the high cost of charges incurred on international transfers, unfavorable exchange rates and a bunch of other reasons.

The good news is True Financial Freedom is here and it has arrived in the form of a digital platform embodied with financial products and services that offer convenient and consistent payment processes for both individuals and businesses across Africa.

What is Vella?

Vella is a digital platform designed to offer remittance solutions with low charges and fast payment processes to modern businesses and individuals within and outside the shores of Africa. With Vella, users can access a wide range of useful and exciting financial services and products ranging from money transfer service to something as basic as buying airtime.

Vella Products and Services.

Vella offers a wide range of financial products and services you can access on your mobile device or laptop. These features include;

Swift Local and International Money Transfer — Life is hard, sending money to your family, friends and vendors in other parts of the world should not contribute to that hardship. Vella is a quick way to send and receive money using cash or crypto anywhere in the world including countries like UK, Canada and China amongst others without worrying about extra charges or hidden fees. Unlike traditional banks that take hours or even days to process an international payment, Vella completes payouts within a few minutes.

Pay Bills & Buy Airtime — Paying your utility bills just got simplified. Vella provides a seamless bill payment service that enables users to pay cable TV subscriptions (DSTV, GoTV), electricity bills, transportation bills and other utility bills conveniently with cash or crypto. Also, Vella enables users to buy and share airtime of any service provider in Nigeria with ease.

Convert Airtime to Cash quickly — We understand that there are days when you accidentally add one more zero while trying to recharge your mobile or a friend sends you airtime as a gift and a part of you wishes you could convert the airtime to cash. With Vella, you do not have to worry about all that because Vella lets you convert airtime of any mobile network in Nigeria to cash instantly. Vella also allows you to use converted cash to pay bills via your Vella wallet.

Smooth Contactless payment — With our crypto multi-currency cards, you get to have total control of your finances 24/7. For regular online shoppers and business owners, our virtual cards are designed to make transactions secure, fast and convenient for you at all times. You can pay for goods and services anywhere in the world, renew subscriptions for movies and music streaming services such as Netflix, Spotify, Apple music etc. without any hitch. A plus to having a crypto multi-currency card on Vella is that you can also create unlimited crypto cards and fund them with crypto or cash any day, anytime.

Redeem gift cards and shopping vouchers — The flexibility of gift cards and vouchers makes them almost the perfect gift for a friend or loved one. They can also be a good substitute for payment if you’d rather not pay cash. Vella is a great way to buy, redeem and send gift cards or shopping vouchers at the best rate using cash or crypto.

Over The Counter Trade — Our OTC desk provides a safe and convenient way for institutions and high net worth individuals to buy and sell large amounts of crypto without any complication. Our over the trade counter features all major crypto currencies and enables users to exchange digital assets to cash or crypto without any stress. With Vella, you can convert your crypto to cash, fiat to crypto or cash to crypto seamlessly.

Our financial products are designed to suit your everyday need.

With our simplified user interface, performing transactions are quicker and more secure with Vella.

Download Vella on Your Mobile Device via Google Play Store or Apple store to unlock financial freedom today.

Sign up is free!

International trade is common with business owners in Africa. Every day, traders across Africa purchase a variety of goods from other parts of the world to satisfy the demands of customers.

Most traders in Africa, especially Nigeria, believe that sourcing for goods abroad has advantages such as getting goods with better quality than buying from local suppliers, buying at a cheaper rate when bought directly from the manufacturer, access to an array of varieties and a lot more reasons.

Making payments to international suppliers abroad can be extremely complicated due to unfavorable exchange rates, steep transfer fees, currency conversion fees to mention a few. And that’s why choosing a digital payment platform wisely is vital when it comes to paying your international suppliers.

Vella is a crypto-enabled payment platform that helps business owners to make quick and secure payments to international suppliers in any part of the world at low transaction fees. Vella ensures that its users experience speed, security and convenience when sending money to business merchants in any part of the world. With Vella, you can pay for products sourced globally with crypto-currency or cash conveniently.

How Do I Pay My Chinese Suppliers with Vella?

Make payments to your suppliers in China by following these easy steps;

Step 1; Download Vella on Google Play store or Apple store

Step 2; Sign up by creating a free account on Vella

Step 3; After a successful sign up, Click on Wallet and fund any of the wallets with your preferred amount (NGNT, USDT or BTC)

Step 4; After funding your wallet, Tap on Pay Merchant on your dashboard

Step 5; Input your Business KYC requirements and once you are done, click on New Payment

Step 6; Input your Chinese Merchant information

Step 7; Enter your Chinese merchant’s account details

Step 8; Enter your Vella Transaction pin and tap Pay

With Vella, sending money to your international suppliers for goods purchased is as effortless as pressing a button.
Download Vella on your mobile device via Google Play Store or Apple store to experience true financial freedom today.

Sign up is absolutely free!

The primary concern of business owners in Africa who have customers in different parts of the world is ensuring that payments for goods and services are processed quickly and without any hassle. And this is a concern that lingers till today because business owners in Africa still encounter an array of difficulties when receiving money from other countries.

Tracking of payment, currency conversion rates, hidden fees and fraud are among the numerous challenges business owners in Africa encounter when accepting payments of goods and services from customers globally.

In a bid to ensure that businesses in Africa accept secure digital payments from customers online and in-person, we are thrilled to introduce Vella Pay. A secure, convenient and express way for business owners in Africa to accept crypto-currency from anywhere in the world.

What is Vella Pay?

Vendors in Africa who adopt Vella Pay as an online payment gateway can easily avoid the tension that comes with receiving payments from customers in any part of the world as Vella Pay products are designed to give African businesses effective ways of accepting payment from customers and digital payment solutions that ensure speed, security and transparency.

A plus to you adopting Vella Pay as a payment processor for your business is that transactions performed on Vella Pay cost next to nothing as Vella Pay charges 1% per transaction.

What are Vella Pay Products?

Pay with Link — A payment link is an advanced and convenient way for traders to accept payment from anywhere in the world. This mode of payment can also be useful for small businesses and start-ups who might not have a business website with a check-out page where customers can easily purchase and make payment immediately. With Vella Pay, business owners do not need to share account details with customers, they can easily facilitate payment by generating a payment link on Vella Pay and forwarding the link to the customer via email, chats or any social media channel to enable the customer make payment with crypto-currency or cash conveniently by clicking on the link.

In-store payments (Vella POS) — A good way to ensure customer satisfaction is by providing suitable payment methods for customers that are not stressful and time-consuming when purchasing goods. And this is why Vella POS is an ideal payment solution for business owners who have physical storefronts (supermarket, restaurants, hotel, etc.) and collect money from customers in-person. Vella POS system facilitates quick transactions, provides flexibility and ease for business owners when it comes to accepting payments from customers. With the Vella POS system, business owners can receive payments from customers in crypto-currencies seamlessly.

Vella payout — An important part of sourcing for goods abroad is ensuring you choose the right payment method. Importers experience few challenges when importing goods from other parts of the world and a major issue has to do with payment and this is why we are introducing Vella Payout to enable business owners purchase large quantities of goods and make payment to international suppliers without any hiccup. Vella Payout is extremely beneficial to importers because it solves the problem of paying international suppliers. With Vella Payout, you can pay merchants in over 80 countries with cash or crypto conveniently.

Crypto Checkout — The checkout page of any business website is the final bus-stop for consumers shopping online because it gives the consumer the opportunity to complete an order by making payment. With our Crypto-Checkout feature, businesses can accept payments in crypto-currency from customers in any part of the world by adding Vella Pay as a payment option on the checkout page of their business website. As a business owner, accepting payment from customers in crypto-currency not only increases your international reach but also offers payment security for your business.

Interested in empowering your business with the right tools for accepting payments globally?

Sign up on Vella Pay today to get early access.

If you reside in the United Kingdom or the United States of America, there is a high probability that you have family members in Nigeria who depend on you for financial assistance, friends who you occasionally send “urgent 2k” and freelancers who you pay for rendering one service or the other.

It is no news that sending money to other parts of the world is not as challenging as sending money to Nigeria and this is due to anti-money laundering rules and harsh policies imposed by the Central Bank of Nigeria on money transfer into Nigeria. Bad exchange rates, transfer duration and ridiculous fees charged by conventional banks are also major limitations that people living abroad encounter when sending money to friends and family back home. These challenges have triggered people living abroad to keep seeking alternative means of transferring money that are quick, secure and cost next to nothing.

Today, with the development of mobile payment services, there are a plethora of ways people in the UK and US can send money to friends, family as well as freelancers in Nigeria. In this article, I am going to be sharing with you the best ways you can send money from the UK and US to Nigeria.

1. Vella

Vella is a great way to send money to family and friends even if they are thousands of miles away from you. Vella is a simplified digital payment platform designed to make remittance to anywhere in the world cheap, fast and secure. With Vella, individuals and employers based in the UK and US can easily pay freelancers and suppliers in Nigeria seamlessly with cash or crypto. And through Vella’s multiple payment channels, users can send cash or crypto to Nigeria using Vella tag and crypto wallet address. Also, Vella possesses amazing features that make it the ideal digital payment solution for you. Vella enables users to fund their crypto wallets(NGNT, USDT and BTC) instantly, redeem gift cards and shopping vouchers, pay utility bills, buy airtime and also pay your chinese merchants with crypto or cash. And all these come with a lot more useful features that you can find on Vella’s website. Speed and convenience are also features that distinguish Vella as the best way to send money to Nigeria because money transfer to anywhere in the world happens within minutes, costs next to nothing and can be performed on your mobile or laptop. Now, among these plethora of features that have been mentioned, one special feature that makes sending money with Vella different from other digital payment services is that transactions between Vella users cost absolutely nothing. You can send cash or crypto to another Vella user anywhere in the world for free.
If you need a simplified and cost effective way of sending money to Nigeria then Vella is a perfect choice. Vella ensures that sending money to your loved ones in Nigeria is as easy as pressing a button.

2. Azimo

Azimo is an online money transfer service that enables users to send and request money from friends and family via their mobile app or website. For people based in the United Kingdom, Azimo is a fast, cheap and convenient way to send money to Nigeria. Based on its wide network coverage, users can send money to over 200 countries quickly and at a low cost. Sending money to Nigeria or anywhere in the world is also seamless because Azimo processes payments to anywhere in the world in less than 60 minutes and does not place a limit on how much its users can transfer which simply means you can transfer money as low as 10 pounds. Using Azimo, businesses can pay suppliers in any part of the world, receive payment from customers and pay overseas employees on the go. With its multiple payout methods, users can send money via bank transfers, cash pickups, mobile wallet deposits etc. Although Azimo possesses numerous benefits such as low transaction fees and no transfer limits, there are a few cons that do not make it the ideal digital payment provider. A major con is that Azimo is only available for people based in the UK and European countries.

3. World Remit

Based in London, World Remit is a safe and secure platform that allows its users to send money anywhere in the world. With World Remit as your payment solution, remittances to Nigeria are quick, safe and come at a reduced cost. Also, World Remit offers a variety of payout methods that include bank transfer, mobile wallets, airtime pop-up etc. Irrespective of the useful features this payment platform possesses, there are still cons that might hinder potential customers from making it a payment method.
A major con to using World Remit is that it is not designed for large money transfers. World Remit places a daily transfer limit on remittances into Nigeria. Users based in the US cannot send more than $5000 daily to people living in Nigeria. For individuals and businesses that transfer large sums of money daily, World Remit should not be your go-to platform.

4. Sendwave
If you are looking for a digital payment platform that charges nothing for cross border payments then Sendwave is what you need. Sendwave allows its users to send and receive money online from anywhere in the world for free. It focuses on providing remittance solutions for individuals and business owners based in the UK, US and Europe who send money to countries in Africa and Asia frequently. With Sendwave, you can send money to a variety of African countries such as Nigeria, Kenya, Uganda etc and the payment process is quick such that recipients can confirm payment after 30 seconds. Sendwave also places daily ($999) and monthly ($2999) transfer limits to African countries. Also, Sendwave makes sending money easy and transparent because the sender and recipient can track and receive updates about the status of a transfer. Creating an account with Sendwave comes with great benefits that include Zero fees on all cross border payments, there are also downsides that might discourage a potential customer. A major downside to using Sendwave is that it is available via mobile only. Users cannot login or sign up on Sendwave via a desktop or laptop device.

There you have it, these are the best digital payment platforms to send money from the UK and US to Nigeria without experiencing the hassles that come with conventional banks.

If you have ever sent money abroad or needed to quickly make payment for goods to your supplier who is thousands of miles away from you, then you can attest to the fact that international money transfer is not as simple as taking a walk in a park.

Apart from being overly expensive and time-consuming, international money transfer has become a drag with conventional bank institutions and this is due to their hectic fraud prevention practices and how much they lag behind when it comes to technological advancement.
In recent times, Individuals and businesses tend to tilt towards Fintech platforms when it comes to sending and receiving payments all over the globe but yet, many of these Fintech platforms still leave customers yearning for more.

HOW DO I SEND MONEY ON VELLA?

Vella offers simplified and cost-effective payment methods for individuals and businesses in Africa to send money anywhere in the world without any difficulty. Vella also enables users to send and receive payment using cash or crypto from anyone in any part of the world without needing their bank details. All you need is the recipient’s Vella tag or crypto wallet address.

What is a Vella Tag?

Equivalent to an account number, a Vella tag is all you need to perform free transactions on Vella. With a Vella tag, you can send and receive money from a fellow Vella user for free. You can also send other currencies using Vella’s multi-currency wallet system for free and these are but a few from a bunch of other freebies you will enjoy as a Vella user.

So, instead of asking for bank account details, the recipient can merely share their crypto wallet address or Vella tag and the sender can transfer money instantly.

To send money locally, kindly follow these steps;

- Download the Vella App on your mobile device via Google play store or Apple store.

- Sign up by creating an account for free and entering your personal information. You also get to set your unique Vella Tag.

- On your dashboard, click on Wallet, then Fund and select “Nigerian Bank Transfer”. Fund your NGNT wallet instantly by making a bank transfer to the account details provided.

- Once your NGNT wallet has been funded, return to your dashboard and press Send, input the amount you want to transfer. Select the channel and type in the recipient’s wallet address or Vella Tag.

- Authorize payment with your transaction Pin

- Tap Send

To send money internationally, kindly follow these steps;

- Download the Vella App on your mobile device via Google play store or Apple store.

- Sign up by creating an account for free and entering your personal information. You also get to set your unique Vella Tag.

- On your dashboard, click on Wallet, then Fund and select “Nigerian Bank Transfer”. Fund your NGNT wallet instantly by making a bank transfer to the account details provided.

- Swap from NGNT to your receiving Crypto wallet (USDT or BTC)

- Select your funded crypto wallet and tap “Send Money”.

- Enter amount and recipient crypto wallet address or Vella tag

- Authorize payment with your transaction Pin

- Hit Send

We weren’t exaggerating when we said we are a platform designed to make payment methods simplified for individuals and businesses in Africa.

Ready to move money freely without any barriers?

Download Vella on Google Play Store and Apple store today.

Sign up is totally free!

The recent FX policy introduced by a number of the traditional financial institutions in Nigeria has made one thing clear - Everyone needs a Dollar Card. Individuals and business owners in Nigeria who perform international transactions that are dollar denominated will experience challenges when transacting because commercial banks in Nigeria have reduced the international spending limit on naira denominated debit cards. Limits have been restricted to as low as $20- $50 depending on the bank you have an account with. This simply means that having a dollar denominated debit card has become a necessity for everyone who does international transactions regularly.

Vella Dollar Card

In a bid to ensure that our users experience maximum satisfaction when it comes to making payments for goods and services online, Vella has launched its Virtual Dollar Cards which are available to all new and existing customers. A Vella Dollar card is a virtual dollar denominated card that lets users perform online transactions seamlessly from anywhere in the world. With a Vella dollar card, making online payments just became easier because it enables users to shop on online stores, pay for music or movie streaming sites, pay international fees and other day to day transactions. You can create a Vella dollar card within three minutes.

Benefits of owning a Vella Dollar Card

Aside from escaping the transaction limits placed on international transactions by traditional banks, these are a few benefits that come with having a virtual dollar card on Vella;

1). A Vella dollar card gives you total control of your finances. You can access your funds and pay for goods and services online at any time of the day.

2). Users can create a Vella dollar card for $2 and there are no monthly charges.

3). Vella dollar card can be funded with a minimum of $5 and maximum of $25,000.

4). Users can create multiple cards and label each card to suit different financial needs. E.g. You can create a card for paying Netflix subscription and another for making payment on online stores.

5). It is a convenient and secure payout method because it does not require carrying a physical card around. The Vella dollar card is stored in digital form on your Vella account.

6). It is an accepted payout method on popular sites and international online stores. You can pay for your Netflix subscription, Run Google or Facebook ads etc.

7). Validity of a Vella Dollar Card is 1 year

How To Create A Vella Dollar Card in Three Minutes

Creating a virtual dollar card on Vella is easy. Follow these simple steps to create and start transacting with a Vella dollar card today;

- After a successful sign up or login, Click “Create Virtual Card” on your dashboard

- Tap “Create a card” and select “New Virtual Card”

- Select your preferred card colour, card validity and card label

- Click “continue” and fund your card with your desired amount

- Choose your desired Wallet ( NGNT, USDT or BTC) to fund your card with.

- Tap “Create Card”

- Your Vella Dollar Card pops up on your screen and you can begin transactions immediately.

- Tap on your virtual card to check your Security, Card Number and Address.

Creating a virtual dollar card is easy on Vella. Now, you can make payments online securely and without limitations.

Ready to create your virtual dollar card on Vella?

Download Vella on Google Play store or Apple store to sign up today!

Due to economic problems in Nigeria and the persistent fall of Naira, many might advise that saving your money in Naira is a bad financial practice and that’s why in recent times, people seek and choose secure ways in which they can protect their “hard-earned” naira from losing its value. With inflation on the rise and the drop in the price of crude oil, the Nigerian currency, Naira, does not seem like it’s going to regain its value anytime soon. This simply implies that saving your naira in dollars is the surest way to prevent your naira from losing its monetary value.

Before the introduction of fintech platforms, saving your naira in dollars entailed stress that involved going to the bank, submitting documents and filling a bunch of paperwork just to successfully open a domiciliary account. But with the advent of fintech platforms providing convenience for its customers, saving your naira in dollars has become so easy because it doesn’t involve trips to the bank, paperwork and any third party.

The “save in dollars” feature on a fintech platform enables users to save their naira in dollars. When you save your naira in dollars via a trusted fintech platform like Vella, the deposited amount is converted to the current value of dollars and the value of your savings increases with time. Also, most fintech platforms offer saving plans that give you interest when you save your naira in dollars on their platform for a stipulated period of time.

Save and Grow your earnings with Vella

Vella is a secure and trusted digital payment platform that not only lets you send money anywhere in the world in minutes but also enables users to save and lock their hard-earned naira in dollars via Vella vault. For individuals and business owners who would like to save their naira in dollars, Vella is an ideal platform for you because you not only save your naira in dollars on a secure platform, We also offer incredible interest rates through our saving plans that help you make profit as you save.

How Do I Save My Naira in Dollars on Vella?

Saving your naira in dollars on Vella is very simple and does not require any paperwork because Vella offers a secure and fast funding method. To get started;

- Download Vella on your mobile device via Google play store or Apple store
- Sign up by creating an account and completing your account verification
- Fund your NGNT wallet with the amount you would like to save.
- Swap the funds in your NGNT wallet to USDT wallet
- After a successful swap, Click on Vella Vault feature on your dashboard and tap Quick Save
- Enter the amount you want to save and choose your desired savings plan
- Complete the process by entering the required information.
- Sit back and watch your money grow.

Saving Plans on Vella Vault

With our profitable saving plans, users are not just saving in dollars but also earning interest while they save. With our saving plans, users can;

Earn up to 4% per annum when you save for 3 months
Earn up to 6% per annum when you save for 6 months.
Earn up to10% per annum when you save for 12 months

An interesting thing to note is that our “save in dollars” feature is available for Nigerians and non-Nigerians interested in unlocking their savings potential and earning interest while doing so.

Vella is more than just a platform that helps Africans move money across the globe seamlessly and pay bills with crypto easily. With Vella, you can avoid the effects of devaluation of naira by saving in dollars and earning interest via Vella Vault

Interested in saving your naira in dollars?

Download Vella and Sign up to get started today!

For individuals and businesses, sending large sums of money abroad is a common practice because people transfer money internationally for a myriad of reasons that include covering tuition fees and other educational costs, relocation purposes, planning a destination wedding, making investments overseas or buying assets. It is general knowledge that sending money abroad has its difficulties especially because multiple currencies are involved. This simply means that knowing better ways to send large sums of money abroad is vital.

Although traditional banks top the list of the most common ways people transfer huge amounts of money abroad, It might not be such an ideal choice because traditional banks operate slowly and charge very high fees on international money transfers. And this is why people tend to tilt towards alternatives when sending huge amounts of money from one continent to another.

A good payment platform provides you better ways to send large sums of money abroad. These means are safer, faster and secure compared to traditional banks. They include;

Crypto Based Remittance — In present times, crypto-currency has become a universal language spoken by millions of people across the globe because it is a flexible and secure way of sending large sums of money regardless of the distance between the sender and receiver. Also, sending huge amounts of money in cryptocurrency is an ideal way to avoid lengthy processes and ridiculous charges incurred on international money transfer by conventional banks. In Nigeria, banks have been banned from trading in crypto currency and some digital payment platforms do not permit cross-border payments in crypto currency so if you are going to opt for sending huge amounts of money via crypto currency, you should ensure that you use a digital payment provider like Vella that enables cross border remittances in Crypto currency. For individuals and business owners who use Vella, transferring huge amounts of money internationally via crypto comes with guaranteed security and convenience. Vella enables users to fund their multi-currency wallets, pay bills using crypto, swap currencies (NGNT to USDT and vice versa) and also send crypto to anywhere in the world using the recipient’s Vella tag or crypto wallet address. If you are someone who would rather send large sums of money to family or friends abroad in crypto, Vella is the perfect digital payment platform for you. Download Vella on Google Play store or Apple Store to get started.

Mobile Payment Services — With mobile payment services providing ease for its users, trips to the bank are becoming extinct because online money transfer services have become a convenient way through which people send and receive money globally. These online money transfer services charge lower rates than traditional banks, give users total control of their finances and provide convenience because all financial services are carried out on a laptop or mobile device. Digital payment platforms like Vella, PayPal, World Remit, Send wave, Western Union and a host of other digital payment solutions have made sending money internationally convenient, secure and at a reduced cost compared to traditional banks. Now, from the comfort of your home and mobile device, you can send large sums of money to your loved ones in another continent within minutes. Although sending large sums of money abroad comes with ease on digital payment platforms, some of these platforms set daily transfer limits for users. For instance, World Remit has a daily transfer limit of $5000 to Nigeria. So, choosing the right digital payment platform for sending large sums of money abroad is essential.

Cash-to-Cash Transfer — Although not common, A cash pickup service is another way people can send large sums of money abroad. Factors like speed, pickup location, exchange rates etc. should be taken into consideration when sending money abroad through a cash pickup service. The good thing is some fintech institutions enable their users to send large sums of money abroad via the cash pickup as a payout option. For instance, if you live in Nigeria and need to send a large amount of money to someone based in the US, you can simply walk into a physical money transfer center e.g. Western Union closest to you to send the money to an international money transfer center for the recipient to receive the cash conveniently. Cash pickup services are a better way to send large sums of money abroad because they are secure, fast and eliminate trips to the bank.

Sending large sums of money internationally should not be difficult and that’s why choosing a payout method that is secure, fast and low cost is very important.

Similar to your corporate credit or debit card, A virtual dollar card is a non-physical dollar denominated card that is used for all kinds of online transactions. It can be used to make online payments securely, shop from local and international stores online, renew subscriptions for movies or music streaming sites etc.

A virtual dollar card possesses the same properties and functions of a physical card with only one exception - It is stored in digital form on your mobile. Although it is a virtual card, it has the usual 16-digit card number, an expiry date, name of the card issuer and a Security. Despite the fact that a virtual dollar card shares the same properties with a physical card, it cannot be used for cash withdrawals.

In the world of B2B, the integration of virtual dollar cards as e-payment methods are growing rapidly due to the limitations of international transactions on naira debit cards. For businesses in Nigeria that perform international transactions frequently, virtual dollar cards have become the preferred payment solution because they are convenient, accepted globally and provide more security when it comes to making payments online.

What are the Benefits of Virtual Dollar Cards for Businesses?

Irrespective of the scale of your business, virtual dollar cards offer numerous benefits that enhance efficiency and security in the financial operations of your business.

Here are 3 major reason why virtual dollar cards are an ideal payment solution for your business;

Improved level of Security: A major benefit of using virtual dollar cards in the financial operations of your business is the improved level of security it provides when it comes to making online payments to your vendors or suppliers in other parts of the world. Unlike a physical card that can accidentally get lost or stolen, a virtual dollar card is stored in digital form on your mobile and helps to prevent sensitive information of your real card from getting into the hands of fraudsters. For businesses that have multiple vendors, suppliers and App subscriptions, a virtual dollar card is an ideal way to make payment because you can set a monthly spend limit to prevent being overcharged by vendors, set an expiry date and also create unlimited number of cards to suit different purposes e.g you can create create a card for each vendor. Also, if you fear that your virtual card might have been compromised, you can freeze or delete the card and generate a new card easily via your banking App or a trusted fintech platform that issues virtual cards. Although virtual cards are not totally free from risks, they are a great way to provide security for online payments.

Manage Vendor Payments Easily; Managing and tracking vendor payment is very essential to the lifespan of a business. Whether you have a small or large scale business, it is very likely that you engage the services of different vendors or merchants which means that the use of one corporate card for all financial operations of your business is a bad financial practice because it reduces transparency and exposes your business to risks. And this is why Virtual cards are very important in modern businesses today because they play a vital role in tracking and managing payments easily. Instead of exposing your business to risks by sharing sensitive information on your physical cards at checkout pages of multiple vendors or merchants, you can generate an unlimited number of virtual cards easily via your mobile banking App or a trusted card provider and restrict each card to a specific merchant. This helps to track and manage business expenses easily.

Globally Accepted: If you are a business owner in Nigeria who patronizes merchants in different parts of the world then a virtual dollar card is an ideal way to make payments internationally without any hassle. Due to the current challenges faced by entrepreneurs, merchants and businesses in Nigeria when it comes to international transactions, a virtual dollar card is a fast, secure, and convenient means of paying merchants in any part of the world. An added benefit of a virtual dollar is that generating single or multiple virtual cards for personal and business purposes is very easy. You can generate virtual dollar cards on fintech platforms that are trusted and offer maximum security to its users when it comes to online transactions.

With fraudsters finding new and creative ways to put businesses at risk and cause havoc for business owners, a virtual dollar card is an ideal way to make online payments securely without sharing sensitive information.