Fintech company Digital PayGo partners Mastercard to launch mobile payment solutions for SMEs

ZAMBIA – Digital PayGo, a Zambian-based fintech company, has partnered with Mastercard to launch a new merchant mobile payments solution for SMEs in the country. Known as “SME-in-a-Box”, the solution will enable the SMEs to safely make and receive digital payments through various online channels. It will support the enablement of digital payments for merchants and their customers, by providing them with a convenient, easy-to-use, and safe way to perform cashless transactions from their mobile devices. Backed by Mastercard’s payment technology, SME-in-a-Box enables digital transactions through the use of a…

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Untapped Global partners mobile payment company Paga to empower small businesses

NIGERIA – Untapped Global, an investment company focused on emerging markets, announced a scale up of its partnership with Paga, the mobile payment and financial services company, to finance point-of-sale devices (POS) for merchants in Nigeria. The collaboration between Paga and Untapped focuses on empowering small businesses to accept digital payments and bring financial services to the masses. The financing is structured to lower the overall cost of entry for merchants to acquire a handheld POS terminal and other digital tools for their businesses, making it easy for them to…

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Standard Bank launches new mobile payment platform Unayo

SOUTH AFRICA – Standard Bank Group has launched a new platform called Unayo that takes direct aim at Kenya’s M-Pesa, MTN Mobile Money and others as it takes a big bet on the future of mobile payments in Africa. The banking group announced at a press conference that it’s launching Unayo in a range of markets across Africa including Kenya, where M-Pesa, developed by Vodacom Group affiliate Safaricom dominates. Unayo will also be launched in South Africa in 2022 and comes as social media companies like Facebook, which owns WhatsApp,…

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Insurtech start-up OKO raises US$1.2m to bring innovative products to smallholder farmers in Africa

UGANDA – Insurtech start-up OKO, a provider of inclusive agricultural insurance to secure farmers’ income across Africa, has closed a seed investment of US$1.2 million led by Newfund and ResiliAnce. Mercy Corps Venture, Techstars, ImpactAssets and RaSa also participated in the round. The start-up which currently operates in Uganda and Mali uses satellite data and mobile payments to create automated insurance products for farmers whose fields are affected adversely by weather occurrences primarily droughts and floods. With the new funding, OKO aims to strengthen its presence in Mali and Uganda…

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Mobile payment platform Zeal Reward closes six figure seed funding

EGYPT – Egypt-based mobile payments and loyalty platform Zeal Rewards has secured a six-figure seed investment from an angel investor to grow its team and scale its operations in the United Kingdom and Egypt. Founded in 2019 by Omar Ebeid, Bellal Mohamed, and Amr Mohamed, Zeal enables users to link different payment methods (e.g., bank debit cards — with their Zeal accounts) and then make in-store payments by presenting the app’s QR code to a scanner at the store. The scanner is provided (to merchants) by Zeal. The startup, incubated by UK-based…

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