Senegalese fintech startup PayDunya has established a presence in Ivory Coast and Benin, and plans to broaden into Mali, Burkina Faso and different Francophone African nations by the top of the 12 months.
Launched in November 2015, PayDunya is an easy-to-use common multi-channel fee gateway and options supplier, providing a single API for e-businesses anyplace on this planet to course of funds from and to African prospects by way of cellular cash, cash switch and bank cards.
Having began life in Senegal, PayDunya now has greater than 600 energetic enterprise shoppers in its residence market in addition to in Ivory Coast and Benin, throughout sectors equivalent to insurance coverage, e-commerce, training and hospitality.
Co-founder and chief government officer (CEO) Aziz Yérima advised Disrupt Africa the startup was targeted on a method of geographic enlargement at this cut-off date.
“We first want to settle in Francophone Africa. Our first scope is the French-speaking area, with a presence in 10 countries at the end of 2020,” he stated.
“We look forward to being a leader in the online payment market in French-speaking countries in Africa in the next five years.”
PayDunya’s aspirations go additional, nevertheless, with Yérima saying it hoped to in the future be energetic in 30 African nations, each Francophone and Anglophone.
“Our main goal today is truly accelerating the emergence of Africa through the power of digital,” he stated.
PayDunya has added a bunch of merchandise to its suite over the previous few years, and now permits prospects to do issues like generate receipts, obtain funds by way of cellular utility, ship invoices by way of SMS or e-mail, arrange recurring and automatic fee assortment, and pay 1000’s of individuals with one click on.
“We recently developed a new solution for social media sellers. The solution can help sellers that have a page on social media to create their own landing page for their shop,” Yérima stated.
Although its enlargement plans are progressing effectively, PayDunya has nonetheless been impacted by the COVID-19 pandemic.
“No person noticed this disaster coming, and we weren’t ready for such financial injury. We had been removed from imagining on the very starting the financial impression that this was going to have. Lots of our prospects had been within the tourism business – one of many sectors most affected by the pandemic – and not wanted internet and cellular fee options when the pandemic hit.
We subsequently needed to discover methods to assist them and accompany them in dealing with the disaster that hit them head on,” stated Yérima.
“That led us to revisit our goals. The challenge for us is really to help West African companies to limit financial losses resulting from the crisis and promote financial inclusion in areas where more people have mobile money accounts than bank accounts. Honestly, the crisis creates many challenges, but also opportunities for those who can work digitally.”