PawaPay is a new payment method that has been welcomed in Africa with open arms. It was introduced as a payment method that aggregates all the infrastructure from various telecommunication networks and funnels them through one API. This allows PawaPay to allow for cross connectivity from any business’ payment infrastructure to any e wallet, bank in any country.
PawaPay is a fintech company that was spun off from the popular betPawa – an online sportsbook that is present in Kenya, Nigeria, Uganda, Zambia, Ghana, Tanzania and Zimbabwe. Though PawaPay is an offshoot of betPawa it is not design for betting only. It is a payment method that any business can use.
How does PawaPay break down the barriers
In Africa, mobile payment methods are led by telecommunication companies. They had led the transformation from cash to digital through the internet services that they provide. Unfortunately, each telecommunication company has developed their own infrastructure which makes inter-connectivity difficult.
This is where PawaPay comes into play. It behaves as the medium through which each network can talk to each other.
It therefore connects AirtelTigo, Econet, MTN, Safaricom, Orange and Vodafone to each other via an API.
Investors have plunged into PawaPay $9 million to expand their presence to broader Africa.
What are the benefits of using PawaPay?
PawaPay dispenses with the need to have a bank account. Bank accounts are difficult to operate and obtain in Africa due to numerous obstacles (endless amounts of paperwork), plus administration fees which discourages obtaining one.
Because PawaPay is linked to a mobile phone account, the ease of operating and the fees are more attractive to citizens of Africa.