Digital Afrique Telecom launches payment service
21 October 2016
Digital Afrique Telecom (DAT) has launched DigiPay, a transaction processing platform that enables service providers to deliver mobile financial products and services to their customers in Africa.
Simplice Anoh, founder and CEO of DAT, unveiled the new service at the second annual conference L’Afrique Digitale, in Paris.
DigiPay is available for use by mobile network operators, banks and other financial institutions, subscription-based service providers, international remittance companies, among other providers. Transactions via DigiPay are fast and secure and can be done via mobile devices or web-based portals.
Anoh says: “We are delighted to launch a service that will unlock access to finance and foster economic growth in Africa. At DAT, we take advantage of the opportunities that technology brings to people across the continent. We are confident that DigiPay will address a range of socio-economic challenges, especially financial inclusion, and provide a gateway to vital services such as education and healthcare.”
Mobile payments can lower the cost of providing financial services by 80% to 90%, enabling providers to serve lower-income customers profitably, according to recent research by McKinsey & Co.
DigiPay empowers a network of merchants and agents to accept electronic payments of goods and services from different mobile money wallets. DAT provides the agents with e-wallets which enable them to perform various transactions such as air time top ups, bill payments, bank deposits and withdrawals.
“Millions of people in Africa own mobile phones, but the same cannot be said of bank accounts,” Anoh says. “It is important to create financial services so that about 250-million unbanked Africans can have access to mobile banking. That’s our mission at DAT.”
Farmers in Africa can also buy and sell agricultural products by using DigiPay. The new service serves as a proof of income for the farmers.