Kenyan-based payments company ImpalaPay alongside US-based fintech company PesaChoice have successfully completed their pilot test on cross-border mobile money transfer on the stellar blockchain. The project facilitates end-to-end fiat to cryptocurrencies and crypto to mobile transactions. The stellar blockchain is a platform that provides customizable payments infrastructure such as developer-friendly software and tools.
ImpalaPay Limited is a peer-to-peer and merchant cross-border mobile payments platform present in 117 countries. PesaChoice is a US-based fintech company founded Rwandese nationals, their aim is to provide solutions in Africa’s financial technology sector. PesaChoice offers an API for third parties to use to provide payment services. Both companies run stellar nodes and are spearheading the revolution of financial services on the continent.
ImpalaPay Limited Chairperson, Elsie Njane said, “The potential for eliminating high costs of transfers and enabling cross-border merchants to use digital payments to access both distant and global markets in a secure financial network is a great leap towards financial inclusion and market expansion to a sector that supports 45% of Africa’s 1.2 billion population.”