Vendly, a Nigerian startup launched to enable customers to make payments through social media

Vendly is a Nigerian business that allows users to pay and receive money using only their social media accounts.

Vendly, which launched in December, promises to let social network users monetize their platforms by allowing them to send and receive money in the same way that PayPal does.

This is accomplished through the use of “vends,” which are payment connections that may be linked directly to one or more individual social media handles or dynamically to a group of social media identities that meet certain criteria.

“Users on the receiving end only need to prove that they own that identity by authenticating with the relevant social media platform in a safe and secure manner,” Bob Nzelu, Vendly’s co-founder and CEO, told as per reports.

“The choice of how to redeem vends lies squarely on its recipient – either directly to the bank, as airtime, mobile money, donating to a charity, PayPal, or even ‘revend’ it to another social media user.”

Vendly was created in response to the lack of simple options for social media users to make money from their time spent there. Users may share, give, and interact with vends directly on social media, making them more organic to the platform.

The business has received $80,000 in investment from relatives and friends and is now in beta. “Vend” authors are charged a small fee for each one they generate, and the company wants to charge brands a higher price.