Malawi fintech PayChangu has introduced a new payment system for businesses that allows for scan-to-pay transactions.
The payment system solution enables locals to make domestic and international payments using cards and mobile money.
According to Joshua Mwendo, global expansion and payment relationship manager, connecting firms' APIs offers up e-commerce potential, allowing them to sell products and services effortlessly.
The fintech company has also now put its sights on public transport, allowing customers to quickly pay with QR codes.
"By implementing QR codes for payments, passengers can easily pay for their trips, streamlining the process for both passengers and minibus owners," Mwendo said.
"Looking ahead, the future of technology appears bright, especially with the expanding accessibility of the internet and the widespread usage of smartphones. This creates a great chance for technological advances to prosper and leave a lasting impact."
Technology experts believe the system will complement the 'excellent progress' in the digital payments arena, ranging from enabling policies to infrastructure and practical use cases.
According to Vincent Kumwenda, a technology and innovation specialist, with government help and third-party fintech firms such as PayChangu, few developing entities find it easier to meet regulatory and financial requirements in order to implement innovative solutions.
Share
