Tech

Pan-African payments service provider, Paystack expands into Côte d’Ivoire, Egypt, Rwanda

Published

1 year ago

November 20, 2023

Pan-African payments service provider, Paystack has announced expanding its services into Côte d’Ivoire, Egypt, and Rwanda, after receiving authorization from the governments of the three countries.

The CEO of Paystack, Shola Akinlade, who made the announcement, said the company would work with an initial group of businesses to refine the platform in each of the countries, while also implementing feedback to ensure that they built a fast, reliable, and delightful payment experience for each respective market.

“The company has now received authorisation as a Payment Service Provider from the National Bank of Rwanda, and as a Payment Facilitator and Payment Service Provider from the Central Bank of Egypt,” Akinlade said.

“In Côte d’Ivoire, the company has partnered with leading financial institutions and mobile money operators directly.

“These authorisations and partnerships allow paystack to operate in full compliance with local regulations,” he said.

Founded in 2015 by Akinlade and Ezra Olubi who met at Babcock University in Nigeria, and also worked in banking and IT sectors, Paystack became the first Nigerian company to be accepted into the startup accelerator, Y Combinator.

Before the recent expansions, Paystack had set up shops in Ghana in 2018, South Africa in 2021 and Kenya in 2023.

Related Topics:Featured fintech Payment Provider Paystack

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Tech

Fintech startup DigMo launched in Zambia to gamify financial planning

Published

14 hours ago

November 24, 2024

Isaac Dachen

DigMo, a gamified fintech startup which helps users to build wealth tools from low to middle-income earners, has been launched in Zambia.

CEO of the DigMo Group, Sylvia Brune, who made the announcement, says the platform which is licensed by the Bank of Zambia to operate a wallet, offers a secure, free digital money account with a special account for users to play a financial planning game which incentivises customers to get started putting money away for the future.

“By giving customers the chance to win big rewards, DigMo is encouraging sustainable habits,” said Brune.

She stated that with an initial rollout in Zambia, DigMo wallet’s first offering, Save to Win, will make putting money away regularly, easy and rewarding with no fixed costs or fees.

“DigMo Save to Win allows users to start with small amounts – from just ZMW10 (US$0.37) – for the chance to win prizes of up to ZMW500,000 (US$19,000).

“We are committed to financial planning innovation for low and middle-income earners across Africa. To achieve this meaningful impact, we approach this like a game studio – where we constantly create and test many new products until we find those with an outsized impact,” Brune said.

“If we just take existing products and make them more affordable or accessible, it is unlikely that we can dramatically change behaviours.

“To succeed, we have engaged directly with users, observing and learning from them to develop DigMo, a solution that will dramatically improve their financial well-being and meet their unique needs,” she added.

Tech

Kenya’s startup BuuPass partners with GiftPesa to launch digital travel vouchers

Published

2 days ago

November 23, 2024

Isaac Dachen

Kenyan digital ticketing and transportation management solutions startup, BuuPass, has entered into a partnership with fintech company, GiftPesa, to introduce digital travel vouchers ahead of the holiday season.

In a statement by BuuPass cofounder and CEO, Sonia Kabra, the move will offer a more flexible and convenient way for Kenyans to manage and gift travel arrangements during the bustling holiday period.

“We’ve noticed a growing demand for digital solutions in the travel industry, especially during peak periods like the holiday season,” said Kabra.

“This partnership with GiftPesa enhances the travel experience for our customers, offering them a convenient way to send travel tickets as gifts and have a safety net for unconfirmed travel dates.

“Unlike traditional paper vouchers that can expire or get lost, GiftPesa vouchers are valid for 12 months and can be redeemed in parts at over 3,000 outlets across the country.

“This flexibility allows recipients to use the vouchers for multiple trips or select their preferred destination, making travel more accessible,” she added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a leading 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.

GiftPesa, on the other hand, is a fintech startup that provides businesses and individuals with a platform for creating digital vouchers.

The partnership between the two companies will introduce digital travel vouchers, helping users manage and gift travel arrangements during the bustling holiday period.