East African commercial bank KCB Bank and goSwiff, a global payment acceptance solutions provider, have partnered to roll out a mobile payment solution (mPOS) for Rwandan merchants, to drive financial inclusion and digital payments in the country.

goSwiff is headquartered in Singapore and its client base covers 25 countries.

The introduction of the mPOS solution, a first of its kind in Rwanda, coincides with the World Economic Forum (WEF) in Kigali; which is emphasising the need for Africa's key decision makers to pursue new approaches for structural transformation in response to rapid technological changes.

The launch follows an earlier roll out of a similar mPOS service in Kenya.

In a statement the partners explain that the mPOS mobile payment service enables businesses to accept digital payments in Rwanda, with the simple use of a mobile application and an mPOS terminal.

The system will find application in areas like mass collection of insurance premiums, collection of public payments and market purchases.

"It gives us great pleasure to introduce the mobile payment solution, mPOS, into the Rwandan market. This technology will enable seamless payments at both stationary and mobile locations which gives merchants the competitive advantage of dynamism. We hope this will lead to substantial growth in digital payments across Rwanda," said Maurice Toroitich, Managing Director, KCB Bank Rwanda.

Belinda Aka, Head of Business Development in Africa, GoSwiff, is quoted as saying, "The World Economic Forum presents a perfect platform to demonstrate how technology continues to positively transform the financial landscape. GoSwiff's partnership with KCB Bank Group in Rwanda is a testimony to the possibilities at hand."