Canadian fintech Mogo Inc. (TSX: MOGO) (NASDAQ: MOGO) on Monday announced its goal of launching a peer-to-peer (P2P) cellular payment solution that will allow users to make percentage and percentage bills temporarily and smoothly with friends and circles.family members through Mogo’s mobile app.
According to Mogo, the payment solution will be available through the Mogo mobile app and users will need to temporarily link their bank account or debit card, and then immediately start sending and receiving cash through the app. , David Feller, Founder and CEO of Mogo, said:
“The main focus in Canada today – bank-to-bank Transfers Interac – does not offer the virtual user the expected delight through consumers, as evidenced by the growing popularity of the Square’s Cash app, PayPal’s Venmo app and others in the US market.Peer-to-peer payment is an herbal extension of our virtual platform and will complement and integrate seamlessly with our other products like MogoSpend, giving our more than one million Mogo members even more application and value.»
Mogo added that he plans to launch the in the first quarter of 2021.