Lipa Payments Brings Out Fintech Solutions For The Informal Sector Of Africa

Lipa Payments Brings Out Fintech Solutions For The Informal Sector Of Africa
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The Fintech start-up of South Africa, Lipa Payments, is expanding the reach of its online payment services platform to the Unorganized Sector of the African nations. Its Digital platform will give vendors and traders of this sector access to online payment facilities; the digital transactions can be done at ease through Cell Phones. 

Lipa Payments is a Fintech company founded by Thando Hlongwane and Roger Bukuru in 2019 and headquartered in South Africa. It has been working on building and growing the scope of Contactless Payments through its Software. In addition, the start-up has been developing its Digital Platform for the people in Africa to make online payment services available to everyone on the continent. The company’s goal is to increase the momentum of Africa’s Financial Development by making every country in the continent become a cashless society, i.e., shift from making regular cash transactions to online transactions.

Also Read: Cashless Prepaid Vouchers Will Be Used By Paytm Merchants

The Co-founder and COO of Lipa Payments, Roger Bukuru, stated that the Vendors and Traders of Africa’s Unorganized Sector always face the issue of not having enough cash with them during the working hours when they run their business. Lipa Payments is working on helping the Unorganized Sector overcome the numerous challenges by introducing their Digital platform to these small businesses, ensuring them a better experience while running their operations. 

Lipa Payments is currently collaborating with various banks and Fintech firms, together with working on making Online Phone-to-phone transactions services available to consumers so that vendors, specifically in the unorganized sector, don’t need to purchase POS Terminals that are extremely costly and hard to get in remote regions. They aim to make the online payment services available to every individual in Africa through their Digital Platform, including people with inexpensive phones that may not be of the latest version. Lipa Payments, along with Banks and Fintechs, are also focusing on making their services as cheap as possible and providing high-speed digital services through Lipa’s Software.

Also Read: Digital Fraud – The Push Towards Digital Transactions Is Worth Or Not??

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