No. Keep your existing bank. Wafi provides you with a wallet which will serve as a connection between your bank and your customer's bank. Funds will flow from your customer to your wallet and then from there to your bank account and vice versa.

Wafi has implemented Multi Factor Authentication (2FA) and secures data in transit and at rest using 256 bit AES encryption across our platform. This keeps you and your customer's data safe.

Wafi has developed a proprietary fraud detection and prevention product to help our customers catch and reduce fraud. Our platforms comes with compliance built in, starting with automated AML, KYC and KYB checks. Wafi also monitors transactions in real time to make sure suspicious transactions are investigated and dealt with appropriately.

Wafi has a pay as you go plan where you get charged instantly for every transaction. Wafi also has paid plans for enterprise customers.

Wafi Checkout is similar to Apple Pay. A user chooses Wafi at Checkout, creates a Wafi account and pays with their bank account. Wafi Pay on the other hand, enables you to process your customer's payments by leveraging Wafi to power the experience on the backend.

To get started, click the join now or get started button on our website, create a merchant account and start testing immediately. When you are ready to go live, request production access and we'll verify your identity and get you on your way.

We'll love to hear from you. Message us at support@wafi.cash and we'll follow up and set up some time to walk through your use case and see if it's something we can support.