GeeRemit App Strikes Cash and Saves It Too

Cell money-transfer apps at the moment are greater in creating nations than simply about wherever else. In Kenya, for instance, cell transactions final 12 months had been up by about 20 % over 2020, in accordance with Capability.

For a price, individuals ship cash to family and friends, pay payments, and purchase groceries utilizing a cell pockets app. The transactions are made by way of mobile service suppliers, though the funds held in a cell cash account are protected by native monetary rules.

That’s necessary, as a result of a lot of the apps’ customers don’t have a checking account.

Though cell cash is quick and simple to make use of, it has a number of drawbacks: The switch service doesn’t present a separate account for financial savings, and there’s no strategy to ship cash to an entity that lacks a cellphone quantity, corresponding to a charitable group.

IEEE Fellow Sandra Ok. Johnson is working to vary these shortcomings along with her fintech startup, World Cell Finance, which relies in Morrisville, N.C. She developed the geeRemit app to let individuals in the US ship cash to individuals in sub-Saharan Africa. A small portion of the price could be donated to a charitable group or deposited right into a monetary account. GeeRemit is presently within the pilot stage.

Johnson says the app’s options permit customers to lend a serving to hand to their family and friends dwelling overseas.

“GeeRemit supplies a social profit by reworking lives,” she says. “The more cash you ship, the extra it can save you over time. The recipient can use that cash to pay for a life-changing occasion corresponding to a marriage, education, or beginning a enterprise. This social part is enticing for many individuals who ship cash, as a result of they have already got the mindset to assist others.”

For her improvement of geeRemit, Inc. journal included her on its 2020 Prime 100 Feminine Founders listing.

Johnson held a lot of technical management positions in IBM workplaces world wide throughout her greater than 25 years with the corporate. She left IBM in 2014. In 2018 she launched the fintech firm and is presently its solely worker.

She additionally has a consulting firm, SKJ Visioneering, in Analysis Triangle Park, N.C. As well as, she is a visiting scholar at North Carolina Agricultural and Technical State College, in Greensboro.


After a 2007 go to to the Elmina Slave Fort, a former slave-trading depot in Ghana, Johnson had what she calls a “eureka second.” She vowed to make use of her technical expertise to enhance the dwelling circumstances of sub-Saharan Africans.

She acquired a chance to take action in 2012, when she took the job of CTO in IBM’s Central, East, and West Africa regional workplace, in Nairobi, Kenya. A part of Johnson’s job required her to journey as the corporate’s technical chief within the area. She seen that folks had been utilizing cell cash to pay for nearly all the things.

“GeeRemit supplies a social profit by reworking lives.”

“Although it is a cash-based society, nobody makes use of money,” Johnson says. “All of them pay by way of cell cash. Kenya was the place cell cash turned successful.”

Throughout her journeys again to the US she generally transmitted cash to Nairobi to pay payments, however the course of wasn’t straightforward.

“I skilled the challenges of gradual switch instances and really excessive charges,” she says. “I coupled the 2 experiences collectively and determined to create this cash switch app.”


Johnson is searching for methods to investigate the info she’s gathering so she will uncover new methods to permit clients to ship more cash or present another profit.

“The problem with a money-transfer protocol is that it must be quick and low-cost. However it additionally must require as little information as attainable,” she says.

One profit may be to ship the app’s customers reminders of upcoming birthdays to immediate them to ship a money present to associates and kinfolk. She additionally wish to use analytics to find out whether or not a consumer wants to economize for school, say, or for beginning a enterprise. The app would then recommend the particular person put aside cash.

“There’s a sure section of the market that’s drawn to the extra features and options,” she says. “We’ve executed some market analysis, and potential clients are keen to pay as much as 2 % extra for this service.”


Johnson says her most important problem is discovering funding. She has spent the previous few years elevating cash, largely from family and friends but additionally by way of crowdfunding web sites corresponding to, which helps feminine founders. Johnson additionally acquired cash by way of angel buyers and a government-regulated fundraising program. She utilized for a number of grants, together with a particular American Categorical program for companies owned by Black ladies.

Johnson says she’s caught in a Catch-22 scenario. To promote buyers on her app, she says, “we’d like market traction, and to get market traction, we’d like funds to get to the market.”

One other hurdle is that the enterprise of transmitting cash is closely regulated in the US. Every state requires a money-transmitter license, and costs for the license can vary from a number of thousand to a couple hundred thousand {dollars}. As a result of Georgia’s price is the least costly, she’s operating the pilot program for the app within the Atlanta space.

The early adopters who’re utilizing the app are to date solely transmitting cash to Ghana and Kenya. She doesn’t have to receive licenses in these nations, she says, as a result of she has partnered with a world funds community that already has licenses there. GeeRemit has been built-in on the community’s entrance finish, and the supply of funds is dealt with on the again finish.

“Proper now, now we have a license and a spotlight,” Johnson says. “As we generate income from these utilizing the service in Georgia, now we have a plan in place to acquire licenses in different states.”

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