| Global | In a bid to minimise physical contact, PayPal now lets customers pay with QR codes in 28 countries. The current global pandemic has made more businesses provide digitised solutions that customers can easily access. Paypal acknowledged that this new feature is a response to a surge in demand for digital payments that included safe solutions for in-person transactions. The Motley Fool |
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| Twitter | Do you know about the Kenyan digital ID project? With the coronavirus accelerating the need for digital IDs around the world, Michael Kimani (@pesa_africa) shares some quick learnings on the Kenyan digital ID project, Huduma number, in this thread. |
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| Nigeria | Debtors Africa launches a platform to contribute to solving the data availability problem in the Nigerian lending space The platform includes a searchable database designed to enable contributors such as banks, fintech lenders, and government agencies list debtors on the platform. Debtors Africa in partnership with Proshare also published a report which offers a detailed review of the credit experiences of local Nigerian banks over the last two decades. Proshare |
| | EDITOR'S NOTE | Determining a potential customer's credit worthiness has long been a struggle for lending institutions in Nigeria due to unavailability, or segmentation of financial data. As the microcredit industry in Nigeria sky rocketed in recent years, different lending companies built their own internal solutions to this problem. However for this problem to be truly solved, there has to be a consolidation of reliable data. Do you know any other platforms or organisation solving this problem? Hit reply to let me know |
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| Global | Mozilla wants to invest up to $75k in African early-stage startups. US-based Internet company, Mozilla, is launching an online incubator that supports businesses that exemplify the 'internet at its best'. The Mozilla Builders Incubator is targeted at early-stage startups, and is looking to invest in people, projects, and technologies that shape the internet through value-driven and sustainable business models. Application link here. Techpoint Africa |
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| South Africa | South African fintech Peach Payments gets new investment for expansion. Peach Payments is a B2B online payments platform that currently serves around 2,000 merchants in South Africa. The investment will be used to continue expansion efforts across Africa. Ventureburn |
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| Africa | Adoption of cryptocurrency for remittance grows, as BitLipa joins the party with P2P remittances. There's been a growing trend in Nigeria with cryptocurrency being used for remittance due to the current economic realities,Sendcash and Bundle are recent examples. Now in Kenya, BitLipa, a cryptocurrency payment gateway has launched a peer-to-peer, borderless remittances network. TechMoran |
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Share a tip | Do you have an announcement, event, or job posting you'd like to share, or have you come across an interesting bit of African fintech news recently? Hit reply and let me know! I might be able to include it in next week's newsletter. |
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