Pan-African neobank payments startup, PayDay has announced its re-entry into Rwanda after it struck a partnership with SpaceX’s Starlink following the official launch of the satellite offering in the East African country.
PayDay’s CEO, Favour Ori, who disclosed the re-entry of the payment platform into Rwanda, said the new partnership with the global internet service provider would further elevate the company’s profile in its quest to expand across the continent.
The Elon Musk-owned SpaceX which runs Starlink, was awarded a license to start its operations in Rwanda effective April 2023, and will offer internet and high-speed connectivity services across the country through its constellation of Low Earth Orbit (LEO) satellites, according to the Rwanda Space Agency.
Ori said the re-launch of PayDay in Rwanda would enable Startlink customers purchase their subscription services through the startup’s virtual wallet which can hold currencies in USD, GBP and EUR, thus simplifying the process of purchasing goods and services online.
“We are thrilled to expand our digital banking services to Rwanda and enhance our partnership with Starlink,” Ori said.
“This offers us an opportunity to promote financial inclusion in the country and contribute to affordable internet connection regardless of location,” he added.
Founded in 2021, PayDay has grown to become a household name in the African neobank space, as well as carving a niche for itself by “enabling remittances to remote workers, freelancers, business owners, and digital professionals with seamless, borderless payments.”
PayDay offers its global payment processing service across over 130 countries in Africa, and through its virtual cards, customers can easily pay for internet subscriptions and any other products and services offered by Starlink, Ori revealed.