Monday
March 18
2019

Nala has built a hassle-free, offline mobile money payment platform for Africa

Benjamin Fernandes, the Tanzanian co-founder chief executive of Nala, spent hundreds of hours talking to local Tanzanians about their frustrations with mobile money payment services before he launched his new payment platform.

While at least a hundred million Africans hold mobile money accounts, the process of transacting over the services is difficult, so Nala made an application that acts as an interface on top of the unstructured supplementary service data layer to make money transfers and payments much easier.

Mobile payment services have swept across the African continent in the 12 years since the wireless carrier Safaricom launched M-Pesa in 2007. As of 2017, roughly half of the 282 mobile money services operating worldwide were in Sub-Saharan Africa, according to a McKinsey report.

Photo courtesy of lirneasia.

Source: TechCrunch (link opens in a new window)

Categories
Finance
Tags
digital payments, fintech, mobile money, Safaricom