AkiliPay, founded by Juma Kapaya is a FinTech company based in Dar es salaam-Tanzania, established with a vision of helping the economic development of developing economies and improve the living standards of its people through digital payments.
The digital payment solutions provided are designed to fit developing economies lifestyle and based on smart phones, contactless smart cards, online checkout pages, and payment terminals/gadgets. They’re also meant to transform cash to digital payments among individuals and businesses, help governments cut costs on cash circulation and automate tax & levy collections from businesses, help preserve our environment by encouraging the use of digital payment receipt & tickets rather than papers, and provide Diasporas with cheap, secure, convenient and instant way of sending money back home.
The company leverage blockchain technology and use a non-bank led model to form its digital payment platform.
According to statics, in Africa and Middle East the total transaction value in the Digital Payments segment amounts to $53, 455m in 2017, while the total transaction value is expected to show an annual growth rate of 15.9% resulting in the total amount of $96,557 in 2021. As more people rely on digital payments, jobs become more flexible and available, while time is cut and efficiency is increased.
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