Leading electronic financial services company NilePay PLC has partnered with Zain South Sudan to launch the first licensed mobile money service in South Sudan.
Dubbed ‘NilePay Mobile Money’, the service is expected to deepen financial inclusion in the country.
The partnership is geared towards eliminating significant barriers that have hindered consumers in the country from taking full advantage of global eCommerce.
“NilePay Mobile Service’s partnership with Zain South Sudan is part of the company’s long-term strategy to enable eCommerce and digitize financial services across the country,” said Darius Mobe, Director, NilePay Mobile Money.
Most people in South Sudan’s capital have been relying on unlicensed mobile operators to transfer money through platforms created by MTN Uganda and Kenya’s M-PESA.
“We are excited to have partnered with NilePay PLC to bring the mobile wallet services to the South Sudan market, which makes it more convenient and secure for users to withdraw and deposit money to their accounts while participating in the digital economy,” says Eng. Magdi Taha, CEO, Zain South Sudan.
Worldwide, almost 700 million people have registered mobile money accounts, transacting an average of $1 billion a day. Yet another 2 billion people lack access to basic financial services, meaning they miss out on the advantages that mobile money provides.
Mobile money has enabled Africa to leapfrog to a position where it is alongside if not ahead of the developed world in terms of Fintech. South Sudan’s 8-year-old economy is ready to hop on the bandwagon as the interoperability of mobile money services movement grows.
“Connected customers present a tremendous opportunity that more than a dozen mobile money markets in the world are already seizing through interoperability. When digital finance is unencumbered, people are empowered. The move to introduce mobile money payments is part of our strategy to bring the benefits of electronic payments to the people of South Sudan,” added Asha Marie, Director, NilePay Mobile Money
NilePay Mobile Money, named after the famous River Nile that straddles the Republic of South Sudan intends to offer the active 2 million, mobile users, a versatile and secure mobile payment solution, that is easy to scale and provides a seamless customer experience.