NilePay PLC has partnered with Zain South Sudan to launch the first licensed mobile money service in South Sudan dubbed NilePay Mobile Money. The partnership is geared towards eliminating significant barriers that have hindered consumers in the country from taking full advantage of global eCommerce.
Currently, 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.
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. With the launch of NilePay, South Sudan’s 8-year-old economy is ready to hop on the bandwagon as the interoperability of mobile money services movement grows.
Asha Marie, Director, NilePay Mobile Money, had this to say, “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.”