Kenyan fintech, SasaPay, has announced a comprehensive new strategy aimed at expanding its customer base both within Kenya and in the diaspora market.
The company, known for its digital payments services, is shifting its focus towards delivering cutting-edge, seamless financial solutions to ensure secure payment experiences for various businesses, including players in the financial services sector, banks, Saccos, digital lenders, SMEs, and healthcare facilities.
SasaPay aims to assume a central role in the Kenyan economy by acting as a bridge between businesses and capital providers.
Part of this strategy involves facilitating quick and affordable access to working capital for businesses, which is expected to stimulate business growth.
The Chief Operating Officer and Chief Executive Officer (CEO) of SasaPay, Daniel Njoroge expressed the company’s vision: “Through our rebrand, we aim to redefine the role of payments and act as the meeting point between Kenyan businesses and their customers. Key to this will be empowering them to operate more efficiently to accelerate growth.”
SasaPay plans to leverage its Artificial Intelligence (AI-based innovative technology to provide timely and accurate data to capital providers, expediting decision-making processes for funding SMEs.
This approach is intended to foster business growth, increase employment opportunities, and improve the quality of life for households.
Additionally, SasaPay unveiled models that prioritize strategic partnerships to enhance the value derived from their wallets by customers.
These partnerships will encompass savings, lending, investments, and automated payments.
The CEO shared another significant development where SMEs will no longer be charged fees for receiving payments via SasaPay wallets.
Instead, customers will see their wallet balances accrue interest through collaborative partnerships with financial institutions, aligning with the firm’s philosophy of Shared Prosperity.
Individual users can also look forward to competitive transaction charges and automatic interest accrual on idle wallet balances.
“SasaPay will introduce a “Shop Now Pay Later” model, allowing users to shop and defer payment. Furthermore, SasaPay is setting its sights on the diaspora market by offering seamless fund transfers from the diaspora to Kenya and facilitating cross-border payments from Kenya. The company aims to establish a transaction platform for Kenyans in the diaspora to engage seamlessly with their families, businesses, and investments in Kenya, regardless of their location,’ Mr Njoroge added.
SasaPay Chairman Dr John Munyu highlighted the growing usage of mobile money in Kenya, citing the Central Bank Of Kenya (CBK) FinAccess report, which indicates a substantial increase from 28 per cent in 2009 to 81 per cent in 2022.
This trend underscores the importance of SasaPay’s mission to provide accessible and efficient financial services.
In closing, Mr Njoroge reaffirmed SasaPay’s ambition to position Kenya as the gateway to Africa through a robust financial ecosystem. The company is actively connecting SasaPay to global payment gateways to enable individuals and businesses on its platform to conduct transactions with counterparts worldwide, emphasizing inclusivity and accessibility.