Open banking platform RedCloud Technologies has partnered with Nigeria’s KongaPay to allow unbanked customers in Nigeria to pay for their goods and services online.
The open banking platform will offer a new platform connecting all stakeholders in the financial ecosystem allowing free flow of digital payments, loans, insurance and new types of products/services through mobile and digital channels.
Justin Floyd, CEO at RedCloud said: “We believe Nigeria will realise its considerable untapped potential from this new kind of technology platform as it enables banks, retailer and agents to work together to deliver financial services at scale. Konga is a company we have admired for some time and who have a proven record in e-commerce.
RedCloud is a London-based global technology company with presence across Africa, South America, and Asia, is reinventing the way banks and financial service providers distribute financial services across emerging markets securely and at scale.
The RedCloud One product is an open architecture, multi-service platform that is designed to deliver financial services anywhere, at any time and to anyone, using any connected device.
By integrating all actors of the economy onto one platform, RedCloud One is shifting financial transactions from cash to digital and therefore driving financial inclusion.The platform can be used by banks, financial institutions, distributors, merchants, agents, governments and lenders.
The platform’s bank-grade, open-architecture cloud-based platform allows banks to reach new businesses through their existing systems by enabling customers to set up and access a virtual bank, get loans, or make payments wherever they are via a secure hand-held device. By integrating all actors of the economy onto one platform, RedCloud is shifting financial transactions from cash to digital.
Olayemi Jinadu VP, Payment Products and Digital Goods said “KongaPay payment solution’s partnership with RedCloud attests to our drive to make Nigerians and Africans at large experience the best of service at their convenience. This means we constantly evolve to be more relevant to customers and society. KongaPay is designed to be fast, reliable, secure, flexible and above all provides a best-in-class financial solution to Nigerians and Africa at large.”