Cameroonian fintech startup Diool has released version 4.2 of its payment solution, broadening bulk payment options on it platform.
Diool platform users are now able to pay up to 500 recipients simultaneously through mobile money channels in a single transaction.
The fintech, which made its debut in 2015, allows enterprises to use the platform to collect payments, pay others and reconcile accounts in a secured manner.
Since launch, the payment platform has signed up over 2,000 large retailers and small merchants.
Diool is now on an expansion drive backed the $3.5 million funding it secured from the Lundin family to scale its operations.
With the upgraded Diool application, officials said, it will extend payment options, notable amongst them is the approval system for outgoing payments, generation of payments links and invoicing.
The platform also facilitates the transfer of funds from Diool accounts to commercial bank accounts, as well as the deposit and withdrawal of funds on Diool accounts using varied payment methods like MTN Mobile Money, Orange Money and Express Union Mobile.
At the launch of Diool 4.2 in Douala, CEO of Diool Serge Boupda said the start-up is committed “to free merchants from time-consuming operations and offer them seamless financial services.”
“We are delighted to launch this new feature that brings real value to any business that needs to execute multiple payments at once, and regularly faces lengthy manual operations,” Boupda said.
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