Leap² Innovation Challenge on FinTech. Theme: FinTech.
M-PAYA helps SME Merchants accept cashless payments.
The world is making a concerted push to go cashless, but for many small and medium-sized enterprises (SMEs), cash is still king. Adopting e-payments for SME Merchants can be costly especially for small players and cashless payments have not yet become a part of everyday life for them.
The use of e-payments is growing in Kenya, but with the variety of e-payment solutions available, interoperability has become an issue as the systems do not "talk" to one another. This has slowed down the pace of cashless adoption.
M-PAYA is a payments processing solution to enable SME Merchants receive cashless payment. Their system is inter-operable with major e-payment providers and allows merchants accept card & mobile money payments while receiving real-time value to their accounts.