Botswana’s Stanbic Bank looks to lead in Fintech with Unayo rollout
Increased levels of competition among Fintech service providers in Botswana has pressured Stanbic Bank to release Unayo, a digital solution accessed via mobile devices designed to connect business users with the markets they operate in.
“Unayo is indeed a platform that benefits both businesses and communities, providing a single hub for economic activity,” said Stanbic Bank Botswana Head Consumer and High Net-Worth Client Segment, Portia Motshegare.
Motshegare said Unayo is also an interactive marketplace where communities and businesses are able to transact.
She added that the platform is available to both citizens and foreign nationals and is accessible through self-registration using USSD on all mobile networks in Botswana or downloading the app.
“Users can open a personal or business account as well as upgrade their profiles to add merchant functionality, allowing them to facilitate transactions on behalf of other customers and earn commission,” said Motshegare, adding that the platform is building a sustainable merchant network that empowers the communities and gives customers more convenient ways to access their funds.
Unayo pays merchants for goods and services using a voucher or QR code and locating participating merchants using Unayo and mapping applications.
In June, Stanbic launched an eMarketTrader Mobile App to cater for on-the-go modern customers, both personal and corporate.