HomeFintechZinli: the virtual wallet to pay and receive dollars without commissions

Zinli: the virtual wallet to pay and receive dollars without commissions

With this platform you can open your account and request your VISA card in less than 10 minutes

Virtual wallets offer a plus that has allowed them to grow steadily in the ecosystem of financial instruments: the possibility of receiving and transferring dollars instantly, without cumbersome procedures and from anywhere in the world. Several of these tools provide services in Venezuela, one of them is Zinli, which has arrived in the country with the offer of facilitating online currency retailing to those who sign up on its platform, backed by Visa.

From receiving and sending dollars quickly, to paying for online services such as Netflix or Amazon, these are some of the things that can be done through Zinli. Do you want to better understand how it works in the country and how to use it? Here we tell you.

Where is Zinli from and what exactly is it? 

It is a virtual wallet originating in Panama that offers users the opportunity to have a virtual Zinli Visa Card with which they can pay and receive deposits easily, quickly and safely.

It is ideal for those Venezuelans who do not have how to open a currency account abroad and also serves as an ally for sending remittances to and from any country just by using the app.

To use Zinli in Venezuela you do not need to have or affiliate a bank account, or previously have a credit card to operate with foreign currency.. You just need to add your personal information to make its features available. 

In addition, with Zinli, customers can have a physical prepaid Zinli Visa card, valid for paying at stores attached to the VISA network anywhere in the world.

Who can have a Zinli account?

Zinli was designed to be available to any type of public, in fact, from the company it is stated that the main objective of this tool is to break with the cumbersome procedures that are often behind financial instruments and banking. 

The app is open to all people, including minors. The client only needs to have an email, an identity document (identity card or passport) and a mobile device to register and start transferring their money. They are the only requirements that the application asks for.

In the case of minors, their parents or guardians must send to the email [email protected] the documents confirming that they are actually in your charge.

Why use Zinli?

Here are some attributes of the tool:

  • Electronic payments: Through Zinli you can buy online on platforms such as Amazon, in addition to paying for services such as Disney Plus, Prime Video, Netflix, video games and online courses, ADS advertising on Instagram and Facebook, etc.
  • Speed ​​and security: The Zinli app was designed to respond in real time. It has an infallible verification system and an important plus is that it does not require the affiliation of bank accounts.
  • Exact payments: As is well known, operations in physical currencies in Venezuela are sometimes a bit cumbersome due to the lack of exchange in stores. Zinli alleviates that inconvenience by allowing the exact amount to be paid in foreign currency. 
  • Paypal Verification: By having a virtual or physical Zinli card, customers can use it to verify their Paypal account, an essential requirement to fully use this platform.
  • Free of commissions: Another advantage is that you can send money from one Zinli account to another, free of charge. This is an attractive feature compared to similar platforms like Paypal.
  • It has no borders: Zinli users can send or receive money from any country. So it is a good option when it comes to remittances, free of commission.

How does Zinli work?

The first step to joining Zinli is to download the app on Android or iOS. The rest is simple:

1. Enter email, phone number and put the country where you are. In this case, locate Venezuela.

how to sign up for zinli

2. You must add a code that will arrive in your email and then choose the password.

zinli record

3. The next step will be to validate your identity; that is, take a picture of your ID or scan your passport. You will then have to record a short video by gently turning your head so that the app saves your face and uses it as a verification and security method.

Zinli account verification

4. In general, the system validates the data quickly. If there was a failure in any element, it will ask you to correct it, to complete all the phases.

5. Go into the app and start receiving and sending dollars. You only have to enter the email of the user who will receive the money or select it from the contact book. Important: You can only transfer from Zinli to Zinli.

zinli services

6. You can also pay with Zinli in many stores by scanning the QR Code within the App.

How to recharge balance?

The function of any virtual wallet is to be able to move money with other users or businesses, but how can we have dollars in a newly created account?

The easiest method is with transactions between family and friends. But if you don't know anyone who has a Zinli account, the platform has the following options:

a. Cash: Until now it is not possible to recharge with cash in Venezuela. This option is only operational in Panama, Colombia, Chile, Mexico, Peru, Honduras and Ecuador.  

b. Binance: It is done through the "P2P Account" by choosing the sale option with the USD currency. The amount must be entered and Zinli chosen as the payment method. Tip: It is recommended to select a verified seller.

c. Commercial Panama: For Venezuelans who have an account in this institution, it is very practical. The minimum recharge is 10 dollars. In addition, it is also possible to do it with ACH in Panama.

d. International credit or debit card: Ideal for foreign residents who decide to send recharges to relatives and acquaintances in Venezuela via Zinli.

How to physically request the Zinli card in Venezuela?

In the app, go to the “Card” section and select the option to “purchase or activate physical Visa card”. Fill in the information requested by the app and that's it. 

Zinli Visa card in Venezuela

The cost of the Zinli card in Venezuela is 25 dollars, since it includes international shipping, and the payment is made in real time in the wallet. Delivery can take a maximum of one month, while in other countries it takes less than an hour.

With the Visa physical card you can pay in many countries of the world affiliated with the Visa network, as you read at the beginning. In Venezuela, payments at points of sale are debited at the BCV rate.

How does the App work?

Zinli's platform is configured to make all processes as easy as possible, so it has several tabs:

a. Activate and deactivate the card: The user can decide how long he wants to use the card.

b. Configuration and security: It allows reviewing data, updating it and making other decisions regarding the profile, the card, etc.

c. QR code: Gives access to the window to scan the codes and pay faster. 

d. Requests: It allows you to see pending requests and others that can be made.

e. Help or support: The service provided by the platform to clarify any doubt or inconvenience.

f.   Movements: The user can see all their financial movements and keep track of their expenses.

Advantages and disadvantages of Zinli

All applications have their point for and against, it is normal. Let's see what Zinli's are:

Advantages

  1. You can pay for goods and services immediately
  2. Simplifies the payment of online services as it is associated with the Visa network
  3. Allows you to have control over movements and expenses
  4. It is commission free
  5. It has a robust biometric security system to prevent theft and identity theft
  6. Quick attention of the advisers in case of inconveniences

Disadvantages

  1. Many businesses in Venezuela are still not using Zinli
  2. Money cannot be sent to another bank account outside of Zinli 
  3. Difficulty to recharge balance in Venezuela due to the restrictions that exist with Visa and Mastercard.
  4. The mobile device must be charged in order to carry out the operations.
  5. In case of theft or loss of the cell phone, it is important to take immediate action to protect the account from theft

How much money can you have in your wallet?

The amount will depend on the level of verifications and the data provided by the user.

1. For example, if you registered with your passport, you will enjoy Zinli Standard with an amount not exceeding 1.000 dollars per month.

2. If you entered with the passport and then updated your information, you will have the Standard Plus with an amount of 1.500 dollars per month.

3. If you decided to register with the identity card you will have the Zinli Lite whose limit amount is 500 dollars.

Now you have the necessary information to choose or not this virtual wallet. In future posts we will talk about more active options in Venezuela to make virtual payments.

Leave a comment