ConnectAfrica is a B2B technology solution connecting various payment networks together. Members of the hub are able to facilitate cross-network transfers. Targeted members are, e-wallet providers, Banks, Payments Service Providers and many more. The Hub is initially focused in growing payment networks in East Africa although with partners in West Africa too.
The networks that are brought together at the switch are invaluable to all members since they benefit from a combined pool of products in different countries. That is the essence of the concept: to cheaply avail a unique mix of products and corridors created from the collected pool without incurring additional CAPEX or integration costs, not to mention travel and time costs to its members.
The Hub bridges the service gaps between the various members giving seamless connectivity for the end consumer(who is a direct customer of the member). Members connect to the switch through API only for security reasons. Two strong African banks supports the end to end settlements between the members. ConnectAfrica fills the gap that offers last mile multichannel transactions to Africa. These transactions are a variety:
Connect Africa has a platform that links multiple financial institutions, Money Transfer Operators and Mobile Network Operators across the world to allow them process their own real time international and domestic money transfers and payments. We offer turn key services and draw revenues by switching payments between members. We have a strong partnership approach and we increase the attractiveness by offering AML screening and settlements between our members.