Peer to peer and Business to Business payments across Africa take 3 working days to complete and transaction fees are at an average of 16%. The cross border remittance market is growing 30% annually and existing financial services cannot keep up with the demand for real time and low cost transfers due to limited geographical restrictions and lack of interoperability among service providers.
We are solving this problem to enhance inter Africa trade and improve the ease of doing business. We are making the software engine, Api's and services to interlink all African Banks and Mobile Money Providers for individuals and businesses to instantly make and receive payments online and using feature phones at lower costs than traditional methods.
Eastpesa delivers affordable instant money remittance services anytime, anywhere to mobile money and bank accounts in East Africa from across the globe. We are have significantly reduced remittance cost in Africa from an average of 16% and have pioneered realtime peer to peer money transfers which are currently at just 9% in Africa and cross border business to business payments that take 3 working days are now completed in a record 15 minutes to bank accounts.
We are solving this problem to enhance inter Africa trade and improve the ease of doing business. more