IT Industry News. Daily.
A partnership between payment innovation company ExiPay and loans and financial services provider Izwe has resulted in an all-in-one point of sale solution, called Izwe Pay, that facilitates payments across mobile money and card payments in Zambia.
To understand how the innovative PoS solution changes people’s lives – and merchants’ bottom lines – it is useful to remember that access to digital financial services increased from 48,9% in 2018 to 73,1% in 2022, according to the Zambia Information and Communications Technology Authority . The country’s top three mobile money providers dominate the market, and banks mainly focus on handling card payments, with only a few of them offering financial services on PoS devices.
Izwe Pay streamlines payments and helps merchants grow their businesses. It also allows Izwe to gather valuable data to help the company and its merchants better understand their customers’ needs, and deliver better customer service. By the first quarter of 2023, ExiPay and Izwe Pay had produced a full proof-of-concept solution and, after testing, it was launched officially in November of the same year.
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