# meCash: a payments service for transfers to and from Africa > meCash: licences, operating model and the full pay-in/payout infrastructure — bank rails, mobile money, stablecoins, and what actually protects (and doesn't protect) client funds. Author: Alena Dunaeva — Lawyer, Family Office (https://wiki.private.law/en/authors/dunaeva) Last modified: 2026-08-21T15:14:00.000Z Canonical: https://wiki.private.law/en/mecash Topics: banking Jurisdictions: uk, usa, canada, singapore, thailand, hong-kong, global Functional tags: marketplace-payouts, crypto-friendly Product tags: otc Semantic tags: marketplace-payouts, crypto-friendly, otc --- meCash is a UK payments company \(meCash Limited, Companies House No. 08765040\) that sends and receives cross-border payments between the US, the UK, China and more than 16 African countries through a mobile app and a web dashboard. The company was founded in 2022 by Modupe Diyaolu \(formerly Senior Programme Manager at PayPal UK\) and Adebusola Adegbuyi \(previously at American Express and NHS Digital\). meCash is not a bank and does not hold a full licence of its own in every market it serves: in the UK it operates as an agent of an FCA-authorised firm. That's the key difference from a directly licensed bank, and it matters for judging what protection actually stands behind a wallet balance. ## What the service is By its own description, meCash lets small businesses send and receive cross-border payments for goods and services using blockchain technology; its stated mission is to open up international payments for African companies. In practice the product is broader than pure crypto transfers: it's a mobile app and web platform for individuals and businesses, with a multi-currency wallet, virtual accounts, payment links and a developer API. The company itself claims over 110,000 users — a figure taken from meCash's own site and not independently verified. ## Key parameters | Parameter | Value | | --- | --- | | Legal entity | meCash Limited, United Kingdom | | Founded | 2022, by Modupe Diyaolu \(CEO\) and Adebusola Adegbuyi \(CTO\) | | Products | Mobile app and meCash Business web dashboard for MSMEs and larger companies | | Transfer geography | US, UK, China and 16+ African countries \(per meCash's own site\) | | Payout channels | Bank transfer and mobile money | | Wallet | Multi-currency wallet; virtual USD card for online payments and subscriptions | | Onboarding | Remote; KYC requires government ID and proof of address | | Transfer times | From a few minutes to three business days, depending on the destination country | ## Products and functionality For individual clients, the core product is sending and receiving money in Africa via the mobile app, a virtual USD card for paying for subscriptions and purchases abroad, and paying tuition abroad without bank forms or queues. For businesses \(meCash Business\), the lineup is broader: multi-currency wallets that remove the need to open accounts at different banks, temporary and permanent virtual accounts for collecting payments, payment links and invoices with no separate software, and a set of APIs \(Quote, Wallet, Payout, Transaction, Virtual Account\) for building payouts and currency conversion into a company's own systems. Two features stand apart: Ramp, a two-way conversion between fiat and digital assets, and an OTC service for large or bulk conversions \(for example, pounds to naira\) that runs through a personal representative rather than automatically inside the app. ## Pay-in and payout infrastructure \(per meCash's internal capability matrix\) Beyond the simple in-app transfer sits a B2B payment collection and disbursement infrastructure that meCash describes in its own document for partners. There's a legal nuance here that carries forward the agent-status theme above: meCash itself splits accounts into "partner" — named accounts belonging to meCash itself — and "3rd party collections" — virtual and pooled accounts that legally belong to partners, not to meCash. ### Pay-in | Method | Currencies and regions | Speed | Use case | | --- | --- | --- | --- | | Bank transfer \(local/SWIFT\) | USD, GBP, EUR, CAD, JPY — Americas, Africa, Asia | Same day on domestic rails; SWIFT next day | Business collections, wallet funding | | Named virtual accounts \(partner-held\) | USD, NGN, MWK — global and Africa | Same day / SWIFT next day | B2B collections, payroll, SaaS billing | | meCash named accounts \(own, "1st party"\) | GBP, USD, EUR — UK, US, Europe | Same day | Same use cases, but through meCash's own perimeter | | Pooled accounts \(partner-held\) | ZAR, XAF, XOF, PULA, RWF, GHS, CDF — Africa | Same day | B2B collections in countries without direct local accounts | | Mobile money | NGN, KES, MWK, UGX, TZS, RWF — Africa | Instant | Last-mile collections | | Crypto deposits | USDT, USDC, EUROC — global | Instant | Treasury funding, crypto-native flows | | On-ramp \(fiat → crypto\) | Local currency → USDT/USDC | Instant | Blockchain settlement from local funding | | API, payment links, invoices | Multi-currency — global | Instant | Embedded payments, fintech integrations | ### Payout The same set of rails runs in the other direction, split by region: | Method | Currencies and regions | Speed | Use case | | --- | --- | --- | --- | | Bank payouts \(global\) | USD, GBP, EUR, CAD, JPY | Same day / SWIFT next day | Supplier payments, international settlement | | Bank payouts \(Africa\) | NGN, KES, ZAR, XOF, XAF, ZMW, MWK, PULA, RWF | Instant | Supplier payments, local settlement | | Bank payouts \(Asia\) | SGD, THB, VND, KRW, MYR, CNH, HKD, IDR, JPY, NPR, PHP | Instant \(within Asia business hours\) | Trade settlement, supplier payments | | Mobile money payouts | KES, TZS, MWK, GHS, XOF, XAF, RWF — Africa | Instant | Remittances, last-mile disbursement | | Crypto payouts and off-ramp | USDT, USDC, EUROC → USD, GBP, EUR, CAD, African/Asian currencies, Brazilian real | Instant | Treasury payments, stablecoin liquidation | | Mass and API payouts | Multi-currency | Batch / real-time | Payroll, marketplaces, contractor payments | ### FX and payment flows meCash advertises dynamic FX pricing through its dashboard and API, two-way fiat–fiat and fiat–crypto conversion, and margin control at the individual transaction level. By its own description, a payment flow follows one of four patterns: fiat → fiat \(a standard cross-border payout\), fiat → stablecoin → fiat \(for speed and cost\), crypto → fiat \(off-ramping stablecoins into a local payout\), and crypto → crypto \(wallet-to-wallet transfer\). Using stablecoins \(USDT, USDC, EUROC\) as an intermediate step between fiat rails means AML and travel-rule questions on these transfers are worth checking separately from ordinary fiat transfers. By its own description, the infrastructure runs on hybrid rails \(banking, mobile money, blockchain\), an API-first architecture, real-time transaction tracking, and a KYC/KYB/AML framework — and meCash itself describes this as a "regulated partner network," which confirms the same agent-based model already seen in the licensing section. ## Licences by jurisdiction meCash's regulatory footprint is assembled from permissions of different kinds — from its own registration to agent status under someone else's licence. The data below comes from meCash's own website; numbers and statuses should be checked directly against regulators' registers before relying on them. | Jurisdiction | Status | | --- | --- | | Nigeria | Its own International Money Transfer Operator \(IMTO\) licence from the Central Bank of Nigeria \(CBN\), No. TED/PFO/CON/PRC/002/142 | | Rwanda | neobank \(PSP\) licence from the National Bank of Rwanda \(BNR\) — held under the trading name Oxford 19 Limited \(No. 121379921\) | | USA | Money Services Business \(MSB\) registration with FinCEN \(No. 31000280238771\) and a money transmitter licence in Delaware | | Canada | MSB registration with FINTRAC \(No. C100000503\) | | United Kingdom | meCash operates as a PSD agent \(appointed representative\) of E27 Partners UK, which is authorised by the FCA as a Payment Institution \(No. 911527\); meCash holds no FCA authorisation of its own | > ⚠️ meCash's UK operation runs not under its own FCA authorisation but as an agent of someone else's licence \(E27 Partners UK\). Under that model, responsibility for regulatory compliance is split between the agent and the principal firm, and client funds are not covered by the government deposit guarantee scheme \(the FSCS\), since this isn't a bank deposit. The pattern repeats elsewhere: MSB registration with FinCEN and FINTRAC is a registration requirement, not prudential supervision with capital requirements of the kind a full bank or an EMI faces. ## Onboarding and KYC Registration happens remotely through the app or the web dashboard. Verification requires a valid government-issued ID \(national ID, passport or driver's licence\) and proof of address \(a utility bill or bank statement\). Once verified, funding the wallet works by transferring money to the virtual bank account details issued inside the app. ## Fees meCash's public pricing page doesn't carry a fixed rate table — it works as an interactive widget where the rate is generated for a specific country and payout channel. Per the company's own FAQ, some corridors carry no fee at all, while others vary by destination; transfers to more than 15 African countries are advertised as competitively priced. Only the app itself shows the exact cost and conversion rate for a given corridor at the time of transfer. ## Who it suits meCash is built for personal transfers to and from Africa \(diaspora remittances, students, tuition payments\) and for small and medium-sized businesses \(MSMEs\) that need to collect payments from several countries without opening local accounts. It's not suited to holding large balances, or to situations requiring deposit guarantees of the kind a licensed bank or a directly authorised EMI provides in each jurisdiction. ## FAQ ### **Is meCash a bank?** No. meCash is a payments company that provides its services through its own MSB registrations and through agent status under licensed financial institutions. It holds no banking licence of its own. ### **Is money in a meCash wallet protected?** No government deposit guarantee scheme \(such as the FSCS or the FDIC\) stands behind a balance in any jurisdiction where meCash operates: this is a payments/MSB model, not a deposit-taking one. Protection instead relies on licensees' obligations to segregate client money in each specific jurisdiction, rather than on a state guarantee. ### **Can meCash be used for business?** Yes. meCash Business is built for MSMEs and larger companies: multi-currency wallets, virtual accounts for collecting payments, invoices, payment links, and APIs for integration into a company's own systems. ### **Does meCash offer crypto functionality?** Yes, through the Ramp feature for business clients — two-way conversion between fiat and digital assets. There's no proprietary crypto exchange or custody service in the lineup; the feature is aimed at business clients. ### **What protection does UK agent status provide?** As an appointed representative of E27 Partners UK, meCash operates within that principal firm's authorisation. This gives it access to regulated payment services, but meCash itself holds no FCA authorisation of its own — its status and the scope of its permissions should be checked directly in the FCA register. Cite as: [https://wiki.private.law/en/mecash](https://wiki.private.law/en/mecash) \(checked 2026-08-19\) --- ## Sources - [meCash — official site, licensing section](https://www.me-cash.com/about-us) - [Companies House — meCash Limited](https://find-and-update.company-information.service.gov.uk/company/08765040) - [CBN — IMTO register](https://www.cbn.gov.ng/PaymentsSystem/InternationalMoneyTransferOperators.html) - [FinCEN — MSB registrant search](https://www.fincen.gov/msb-state-selector) - [FINTRAC — MSB registry](https://fintrac-canafe.canada.ca/msb-esm/reg-eng) - [FCA — Financial Services Register \(check No. 911527\)](https://register.fca.org.uk/s/) --- ## FAQ ### Is meCash a bank? No. meCash is a payments company that provides its services through its own MSB registrations and through agent status under licensed financial institutions. It holds no banking licence of its own. ### Is money in a meCash wallet protected? No government deposit guarantee scheme (such as the FSCS or the FDIC) stands behind a balance in any jurisdiction where meCash operates: this is a payments/MSB model, not a deposit-taking one. Protection instead relies on licensees' obligations to segregate client money in each specific jurisdiction, rather than on a state guarantee. ### Can meCash be used for business? Yes. meCash Business is built for MSMEs and larger companies: multi-currency wallets, virtual accounts for collecting payments, invoices, payment links, and APIs for integration into a company's own systems. ### Does meCash offer crypto functionality? Yes, through the Ramp feature for business clients — two-way conversion between fiat and digital assets. There's no proprietary crypto exchange or custody service in the lineup; the feature is aimed at business clients. ### What protection does UK agent status provide? As an appointed representative of E27 Partners UK, meCash operates within that principal firm's authorisation. This gives it access to regulated payment services, but meCash itself holds no FCA authorisation of its own — its status and the scope of its permissions should be checked directly in the FCA register. Cite as: https://wiki.private.law/en/mecash (checked 2026-08-19) --- ## Factual claims - Beyond the simple in-app transfer sits a B2B payment collection and disbursement infrastructure that meCash describes in its own document for partners. --- Source: wiki.private.law — the private.law legal knowledge base. When quoting, cite the canonical page URL. Consultation with a lawyer: https://t.me/private_law_bot