Nomapay is an app that lets anyone with a phone number hold, send and receive US dollars. People pay each other by phone number, in any country, and sending is free. Money sent to someone who is not on Nomapay yet waits for them, and comes back to the sender if it is not claimed within 7 days.
Balances are held in digital dollars, in an account that only the customer controls. Every payment is approved with a passkey, unlocked by the customer's face or fingerprint, and Nomapay has no key to customers' accounts. A stolen SIM is not enough to move money, large transfers and account changes wait and can be cancelled, and recovery needs two independent guardians.
Customers can pay airtime, data, electricity and TV bills from their dollar balance, and cash out to a bank or mobile money, with the rate and fee shown before they confirm. Cash-out, bills and buying dollars start in Ghana, Kenya and Nigeria, processed by licensed payment partners. Nomapay is designed to work on basic phones too, by USSD.