Kenya: Finserve to launch a payment platform for African e-commerce and money transfer companies

Aug 28, 2018 | Ecofin Agency

Finserve, a subsidiary of the Kenyan banking firm Equity Group specialized in technology solutions, will launch a new payment platform for companies in the e-commerce and money transfer sectors in East and Central Africa mainly.

Jack Ngare, Finserve’s managing director indicated that the Kenyan Fintech is planning to discuss with financial services providers and existing payment platforms to combine the various payment options in this new platform. Once operational, the platform will be initially available in Kenya, Uganda, Tanzania, Rwanda,
the Democratic Republic of Congo and South Sudan and later to other countries like Nigeria and South Africa. Apart from this payment platform, Finserve is also planning operations in the money transfer sector. It is indeed eyeing Ethiopia and wishes to launch a solution to facilitate the Ethiopian diaspora’s fund transfer. Source: Agence Ecofin