Transsion has partnered with NetEase to launch a financial services arm in Africa called Transsnet Financial Services. The new venture will offer digital banking services in Africa and has set a goal of reaching 100 million users within 3 years.

The venture will provide services such as:

  • PalmPay – Users will be able to send money, pay bills and buy airtime.
  • PalmCredit – Users will be able to access loans
  • PalmPoints – Users will be able to earn PalmPoints for every transaction and redeem them against airtime, discounts and special offers.

Transsion is the parent company of smartphone brands Tecno, Infinix and Itel.