Tech

Cellulant gets payment licences to operate in Egypt

Published

1 year ago

November 17, 2023

Pan-African payment platform, Cellulant has announced receiving licences from Egypt to operate as a Payment Service Provider and Payment Facilitator in the North African country.

Cellulant’s General Manager for Egypt and North Africa, Ahmed Marwan, who made the announcement in a statement on Thursday, said the licences had further strengthened the fintech’s operations in Africa where it had the most “comprehensive payment infrastructure, integrating over 370 payment methods, operating in 35 markets with licences and physical offices in 19 countries.”

“With the prevalence of prepaid cards and mobile wallets already exceeding 40% of the adult population in Egypt, the timing of Cellulant’s acquisition of these licences could not be more opportune,” Marwan said.

“More importantly, we’re committed to intensifying our efforts to provide reliable payment options for businesses in the region. By simplifying their business payment process, they can focus on their growth”, he added.

Marwan noted that Egypt’s payments sector had snowballed in recent years, with “current regulations enabling instant payments and fintechs revolutionising how financial services are delivered, challenging traditional banking models and altering consumer payment preferences.”

In a 2022 Mastercard New Payment Index, 88% of Egyptians have used at least one emerging payment method, with usage expected to increase further.

“Customers are expanding their purchase methods, necessitating businesses to expand their payment methods to alternative and locally relevant ones,” he said.

Also speaking on the approval, Akshay Grover, Cellulant’s Group CEO, said Egypt was a strategic market for business growth in the MENA region.

”We’re excited to successfully secure these licences and solidify our operations in Egypt, making our payment solutions accessible to the regional and global businesses operating in and getting into Egypt,” he said.

“Over the last three years, Cellulant has been sustainably investing in the growth of real-time payment solutions for businesses, namely checkout, in-store, payouts, payment links, and the robust business dashboard, all anchored on its single API payment platform – Tingg.

“Additionally, Cellulant has built strong infrastructural and security capabilities, obtaining global security, privacy, business continuity, and service management certifications,” Grover added.

Related Topics:Cellulant Egypt Featured fintech Payment Platform

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Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

2 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

3 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation