How to pay a team in Africa — and get paid back — at 2%: the Canada-Africa Chamber session, in full
The 60-minute session with the Canada-Africa Chamber of Business: what a bank wire to Africa really costs, five live demos (get paid, freelancers, delegation accounts, platform API, pay out), pricing, the 20% partnership programme, and the questions members asked about regulation and compliance.
The short version. A bank wire between Canada and Africa costs 5–7% once the FX markup is counted and takes three to five days. Storspay does it the same business day at 2% all-in at the mid-market rate, in both directions, across 26 countries — 19 of them in Africa. On September 24, 2026, founder Dr. Sam Alonge showed the Canada-Africa Chamber of Business how, live. This is the session, chapter by chapter, with the questions that came up.
What was covered, in order
| Chapter | What you will see |
|---|---|
| Who Storspay is for | Six kinds of business: Canadian and US companies paying Africa, Latin America and Asia; businesses there paying the world; freelancers and sole traders; delegations, embassies and event organisers; platforms and marketplaces; store agents. |
| Trust first | A Canadian company (StorsApp Inc.), headquartered in Canada with a US office in New York. Money services business registration filed with FINTRAC and under review. Every business verified before its first payment. Payouts through licensed in-country partners. |
| What a wire really costs | About 6% and three to five days — seven or eight if you send on a Friday. On every $100,000 you pay or get paid, roughly $6,000 stays with the banks. |
| Demo 1 — Get paid from Africa | A $980 invoice. The client in Nairobi pays KSh 128,640 from a bank or M-Pesa. US$980 lands in the Storspay balance the same day. Pay it out to a Canadian, US, UK or EU bank, or spend it. |
| Demo 2 — Freelancers and sole traders | A freelancer in Kenya is paid €500 from Europe, holds it in euros, pays another business on Storspay for free, and moves the rest to M-Pesa at 2% all-in. |
| Demo 3 — Delegation accounts and cards | An embassy or organiser funds once, from home, in local currency; each delegate gets a named account and a card with its own budget, dates and daily limit; every dollar reconciles. Early access — opening to a first group of partners now. |
| Demo 4 — Platform & Marketplace API | Instant or escrow payouts to vendors in 26 countries, webhooks and receipts. A $1,200 checkout arrives as ₦1,000,000+ in a Lagos bank account once the buyer confirms delivery. |
| Demo 5 — Pay out | Fund in USD or CAD, one rate shown before you confirm, local currency in the recipient's bank or mobile money the same day. No app, no account on their end. Batch payroll and a receipt per payment. |
| Pricing and partnership | 2% all-in whenever a currency converts; 0.75% with a small minimum when it does not; a Canadian bank at a flat CA$5. Referral partners earn 20% of Storspay's collected fees on each referred business for 12 months. |
The questions members asked
Are you licensed in Canada?
Storspay is operated by StorsApp Inc., a federally incorporated Canadian company. Our money services business registration is filed with FINTRAC and under review. Every business completes verification (KYB) before its first payment, every party is screened against sanctions lists, and payouts run through licensed partners in each of the 26 countries. US dollar accounts are held at an FDIC-member US bank. Storspay is B2B only and does not handle personal remittances.
Is this crypto?
No. A Canadian business sends dollars from its bank account and the recipient receives naira, shillings or CFA in theirs. Storspay uses regulated infrastructure providers and licensed in-country partners to settle faster and cheaper than the correspondent-bank chain. Nobody on either end touches anything but their own currency.
What happens on a weekend?
Payments fund and settle on business days. A wire sent on a Thursday or Friday through the banking chain can take seven or eight days to land; a Storspay payment funded on a business day lands the same business day.
How is this different from Wise, Payoneer or M-Pesa?
Storspay is built for businesses — a business account, batch payroll and a receipt for every payment — and it works in both directions: your partners in Africa can pay you in their local currency, above mobile-money caps. Nineteen African corridors are live, including the CFA zone, and the recipient never needs an account or an app.
Can my delegates have cards for an event next month?
The organisation account and Get paid are live today. Delegate accounts and cards are in early access: we are opening them to a first group of delegation partners and want those partners to shape how the product works. We do not promise cards for a specific date or event.
Which countries are not covered?
The 26 live countries are listed on the coverage section. Mali, the Democratic Republic of Congo, Namibia and India are not live. We add corridors quarterly and can often prioritise one for a partner with volume.
How to start
- Type what you pay or get paid each month into the calculator and see your annual savings. Chamber members: use that link so your business is counted under the Chamber's partnership.
- Create your business account at app.storspay.com and complete verification — about ten minutes.
- Send your first payment request, or add a recipient and pay.
Delegations, platforms, cooperatives or a corridor we have not opened yet: write to sam@storsapp.com.
See your own corridor number. What your team receives, what Storspay costs, what you keep — no sign-up.
Open the calculator →