South Africa’s Nomanini, an enterprise payments platform provider, has partnered with Vodafone’s mobile money provider M-Pesa to give small business owners in Mozambique an option of topping up their accounts through local mobile money agents.
Nomanini, one of Africa’s top fintech solution companies, is a payments platform provider that enables transactions in the cash-based informal retail sector. It uses a wireless box linked to a cloud software service that enables transactions.
Nomanini terminals are fast becoming the best payment option for utilities such as electricity, water and insurance in South Africa and other sub-Saharan Africa countries through partnerships.
Through integration with M-Pesa, Nomanini customers will be able to top up their accounts by depositing money through the networks money agents across Mozambique.
The partnership will enable Nomanini merchants who receive cash payments for services such as airtime or prepaid electricity to deposit the money with M-pesa agents and top up their Nomanini accounts.
“Integrating Nomanini with services such as M-pesa helps make mobile money more accessible to consumers and offers merchants and enterprises in informal markets the opportunity to increase their margins and reduce their working capital requirements,” Nomanini’s Chief Executive officer, Vahid Monadjem, said in an emailed statement to AFKInsider.
Monadjem said merchants will now reduce their travelling distances and also reduce the risk that comes with handling huge amounts of cash. They will also be able to keep an electronic record for transactions that will be useful when they need to access credit from financial institutions.
The new platform that is already in use by thousands merchants in Mozambique, will also provide a more convenient and safer environment for payments in the informal sector.
The integration is part of Nomanini’s goal to spread electronic payment as a major method through which customers will pay for services and products in the continent’s dominant informal sector.