PesaPesa is a mobile application that enables users to send and receive cash payments by scanning secure QR codes, without the need for a bank account, internet, or phone connection. It addresses the challenge of accessing cash in areas with unreliable ATM services, allowing users to maintain digital currency on their smartphones for quick transactions.
Funding
Funding not disclosed
Founders
Product
Problem
In regions with unreliable ATM access, individuals face challenges in obtaining cash for transactions. Existing digital payment solutions often require bank accounts, internet connectivity, or smartphone access, excluding a significant portion of the population. This limits financial inclusion and hinders seamless transactions in areas with limited infrastructure.
Solution
PesaPesa is a mobile application designed to facilitate cash payments by scanning secure QR codes, eliminating the need for traditional banking infrastructure. The application allows users to send and receive payments without requiring a bank account, internet connection, or even a phone connection. Users maintain digital currency within the app on their smartphones, enabling quick and easy transactions with other PesaPesa users. The system utilizes secure QR code technology to ensure safe and reliable transfers, even in areas with limited connectivity.
Target Audience
The primary target audience includes individuals in areas with unreliable ATM access, users without bank accounts, and businesses seeking a low-cost payment solution.
Features
- Send and receive payments by scanning secure QR codes.
- Operates without a bank account, PayPal account, or registration.
- Functions without a telephone or internet connection.
- Free to download and use on Apple and Android (5+) smartphones.
- Supports cross-border payments to other PesaPesa users.
- Charges a low transaction fee only for topping up or down from a bank or PayPal account.
- Implements security measures to monitor and prevent illegal use.
- Offers a monthly subscription option for businesses to reduce top-up/down fees.