‘Ground Breaking’ Mobile Payments Ecosystem To Boost Financial Inclusion In South Africa
KIGALI, Rwanda, May 13, 2016 /PRNewswire/ — WORLD ECONOMIC FORUM — In keeping with the concept of ‘Connecting Africa’s Resources through Digital Transformation’ at today’s World Economic Forum on Africa event in Kigali, Rwanda, Patrick Ngabonziza the Chairman and Founder of MobiCash announced a game-changing approach to financial inclusion in Africa.
MobiCash and Boloro are launching their ‘ground breaking’ mobile payments ecosystem in the townships of South Africa with Big Save Group, one of the largest wholesalers operating within South African townships and servicing tens of thousands of small scale spaza shops. The MobiCash cashless platform brings ease of access for banking services and electronic payments to the South African population at large. MobiCash’s partnership with Boloro, a fast-growing mobile payments network brand, allows small scale retail businesses to offer secure, consumer friendly, handset agnostic, merchant initiated payments using MobiCash multi-factor biometric authentication together with Boloro’s secure pin authentication that uses Network Initiated USSD messaging. This ground-breaking project is a first of its kind in South Africa.
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