Funding
Funding not disclosed
Founders
Product
Problem
Businesses seeking to expand their reach across Africa face challenges in accessing a unified payment network capable of handling collections and disbursements to a large, fragmented mobile wallet user base. This limits their ability to scale digital payment strategies and tap into new customer segments across the continent.
Solution
Onafriq operates a real-time payments network designed to connect businesses with over 1 billion mobile wallets across Africa. The platform facilitates seamless collections and disbursements, enabling enterprises to access new customer segments and scale their digital payment strategies. It supports cross-border transactions and offers card issuance services to broaden market reach. Onafriq acts as a "Network of Networks," providing convergence and interoperability for partners to enhance their digital payment infrastructure.
Target Audience
The primary customers are enterprises, non-bank financial institutions, mobile network operators, money transfer organizations, government development organizations, and banks looking to expand their digital payment capabilities and reach across the African continent.
Features
- Real-time payments network connecting businesses to over 1 billion mobile wallets across Africa.
- Facilitates seamless collections via cards, cash, and mobile wallets.
- Enables fast and secure disbursements for multiple use cases with single integration and real-time capabilities.
- Offers card issuance services for physical/virtual prepaid card programs.
- Provides agent banking services through a network of over 460,000 agents in Nigeria.
- Delivers treasury services by providing access to multiple African currencies, reducing correspondent banking complexities.
- Supports 2000+ cross-border payment corridors.
- Operates in 43 African markets with live BINs and multiple banking partners across Sub-Saharan Africa.