South African cell pockets integration startup Wallettec has pivoted to focus completely on the sports activities betting area, the place it sees important alternatives for development.
Launched in Cape City in 2013, Wallettec is a cell cash integration firm that has offered cell fee options in additional than 14 African international locations, together with Kenya, Uganda, Namibia, and South Africa.
The corporate began life working with banking establishments, and later targeted on offering retailers and retailers with the flexibility to just accept instantaneous funds with out ever sharing any fee or private info. Over the past three years, in the meantime, it has shifted its focus to working with cell cash suppliers and making cell cash extra accessible and simpler to combine with a number of suppliers in a number of international locations.
Successes on this area have now led Wallettec to completely deal with sports activities betting, the place it believes it could ship much-needed options which might be efficient, seamless, and of nice profit to the trade. Presently, Wallettec is in operation in additional than 10 African international locations, working with native companions, to offer hassle-free fee options of their native sports activities betting industries.
“In my 20 years working in the mobile payment space, I have always been driven by the idea of providing solutions where they are needed the most. I strongly believe that as African entrepreneurs we carry our own solutions as we are very familiar with our problems,” stated Johan Meyer, founder and chief govt officer (CEO) of Wallettec.
“This belief is the reason I have always sought to partner with local entrepreneurs in each country where Wallettec is operating. Working with our gaming clients and our local partners within each country, we develop custom tools and payment channels that can help our gaming providers grow their business quickly and successfully.”
Bookmakers don’t at all times have the fee expertise wanted nor the time to spend on discovering the right funds companion throughout all of the completely different international locations in Africa. Wallettec’s footprint throughout the continent and its years of expertise help the trade to make funds hassle-free.
“We want to develop a set of tools that will turn Wallettec into the obvious choice for all things gaming. Most importantly, we don’t only provide payment solutions but we work with our clients by helping them with their growth across Africa. This can only be achieved if you concentrate on a specific industry and make sure all our partners and staff share this vision,” stated Meyer.
Wallettec’s suite of merchandise on provide to the African sports activities betting trade is designed to cowl the participant, bookmaker and regulators. Wallettec seems to be on the wants of its betting shoppers and builds instruments and APIs based on their wants. Its API presents a speedy integration course of, giving bookmakers entry to a large geography of fee choices for each collections and disbursements. The startup has additionally developed a system for regulators that may convert tax assortment right into a real-time occasion, and eradicate all the present tax fraud and assortment nightmares.
In 2019, Wallettec additionally launched its Rewards Pockets, which rewards gamers and inside the first 12 months have given away greater than US$70,000 in rewards.