IDT Corporation, a global provider of fintech, cloud communications, and traditional communications services, announced today that it is rebranding its Africa-based Leaf Wallet app to IDT’s flagship financial services brand, BOSS Money. As Leaf Wallet, the fintech startup was funded by the Unicef Innovation Fund in 2021 and later got acquired by IDT Corporation in 2022.
The rebranding is part of a broader initiative to leverage the key technologies of Leaf Wallet to gradually expand across Africa allowing U.S. consumers to send money transfers directly to family and friends in the Continent.
The newly branded BOSS Money wallet will continue to use the Leaf Wallet’s innovative, blockchain-based technology on the Stellar Network, so that customers across Africa can safely store, send, receive, and exchange currencies on their phones domestically and across borders. The wallet will continue to allow customers to access funds and transact on feature phones utilizing a USSD interface accessed via a short code and via the app.
The Boss Money wallet will enable customers across Africa to receive money in their local currency directly from customers in the U.S using the BOSS Money app. Transferred funds can be used to purchase airtime, pay bills locally, and send to other BOSS Money users across Africa for free. Funds can also be cashed out to the recipient’s bank account or their mobile operator’s wallet.
“We see a tremendous opportunity across Africa to grow our footprint and reach millions of new customers with the BOSS Money wallet and to connect both our current and new customers to their family and friends in the U.S.,” said Nat Robinson, Leaf’s CEO.
The newly rebranded BOSS Money app is already available for download in Kenya, Uganda, and Rwanda, and will soon be available in Nigeria, Ghana, Zambia, and Tanzania.
Grace Anyetei, IDT’s Regional Director of Operations based in Nairobi, Kenya said, “BOSS Money will enable customers in the U.S. to send money safely and securely within seconds like a local to family, friends, and loved ones across Africa. Recipients of the funds can use their BOSS Money wallet to choose how, when, and where to access those funds.”