#FinancialInclusion

Mar 24, 2022
2 min

The power of one - will multi-purpose super apps replace all other apps?

How does an app become a super app? Much like Superman, it gains extra powers. With mobile software applications available to assist us with almost every aspect of our lives, including socialising, ticket purchasing, shopping, fitness, banking and more, there’s a reason the phrase ‘there’s an app for that’ was coined by Apple back in 2009. More than a decade later, enter the super app; a one-stop platform with multiple solutions built into it so users don’t have to interact w

Mar 22, 2022
3 min

Ukheshe processes first live instant payments in MEA with Mastercard Track Instant Pay

The first businesses in the Middle East and Africa region have started to experience the seamless ease of Mastercard’s Track Instant Pay solution, in partnership with leading pan-African fintech enablement partner, Ukheshe Technologies. Track Instant Pay is a next-generation virtual card solution that uses machine learning and straight-through processing to enable instant payment of supplier invoices – the first of its kind. “It safely and intelligently authorises immediate p

Mar 10, 2022
2 min

Mobile money is driving financial freedom in Africa

International remittances – a portion of earnings that migrant workers send home - are often a financial lifeline to families, especially those living in developing nations. Africa is one of the world’s most important remittance markets, with about USD$77 billion flowing in annually out of a global total of US$666 billion, according to the World Bank. The International Monetary Fund further estimates that 45-65 percent of these transactions are informal, or cash payments. The

Feb 23, 2022
2 min

Ukheshe - partnering beyond borders to drive financial innovation

Emerging markets in Africa are fertile ground for financial innovation, offering opportunities to address the decades-long challenge of financial inclusion. With these opportunities come challenges. A business breaking into a home market is difficult enough, but a foreign market means unfamiliarity with the local economy, politics, culture, social habits and consumer preferences. The solution to this is collaboration with domestic partners, who can help provide businesses wit

Feb 2, 2022
2 min

Ukheshe Technologies achieves Level One B-BBEE rating on the back of achieving transformation goals

Ukheshe Technologies achieves Level One B-BBEE Contributor certification.

Nov 24, 2021
2 min

The Rise of Digital Banking

There is no doubt that fintechs are the drivers behind the financial sector’s major transformation. Innovative platforms and ecosystems created by these startups are changing the way consumers manage their finances, making it more accessible, convenient, cost-effective and at the same time addressing a huge problem across Africa – financial inclusion. The COVID-19 pandemic triggered further digitalisation and many customers have now become accustomed to meeting all their fina

Nov 19, 2021
3 min

Ukheshe and Telkom launch mobile POS solution for small businesses

Small businesses are contributing a growing slice of South Africa’s economic pie, increasing their contribution to the formal business sector’s total turnover by over 12% year-on-year. Yet few solutions are geared at these merchants. Physical point of sale systems are often unaffordable to them, transactions carry high charges, and the red tape to formalise their business dealings all hamper their economic progress. A new mobile point of sale (mPOS) solution from Telkom, crea

Oct 5, 2021
2 min

The Future of Payments is Here

Rapid transformation in the digital payments sector - the growth of e-commerce and digital payments in South Africa.

Jul 9, 2021
2 min

E-commerce boom fuelled by QR and virtual cards

QR codes are facilitating mobile payments for more users around the globe than ever before. The reason? They’re fast, safe, efficient, and most importantly, are available to the vast majority of consumers thanks to QR code functionality built into most smartphones. As a result, QR code payments have become the norm in Southeast Asia, particularly in countries like Thailand, Singapore, Indonesia, and Vietnam. In China, QR-enabled mobile payments have largely displaced cash as

Jul 1, 2021
2 min

Ukheshe Technologies announces boostXB joint venture with ForexPeople

Fast, convenient cross-border end-to-end digital remittances from SA into Africa Leading fintech enablement partner, Ukheshe Technologies has confirmed the establishment of a new joint venture with ForexPeople, one of South Africa’s most trusted names in forex with over 20 years of experience, to seamlessly facilitate cross border payments from South Africa into Africa. The service will extend from South Africa to more than 40 countries across Africa, including Africa’s large

Jun 22, 2021
2 min

Building Africa’s next fintech unicorn

Ukheshe started with a humble proposition: bring electronic payments to the unbanked. As Ukheshe grew, it saw the broader issue: it’s not just that many people are unbanked; many financial institutions don’t have the digital means to engage with more modern audiences. When it comes to using QR codes, USSD payments, mobile apps, web interfaces and such, most banks find it too complicated. They have to coordinate the services of multiple providers and vendors, all while navigat

Mar 16, 2021
1 min

Ukheshe, Infobip Create SA’s First WhatsApp Payment Gateway

2 min read. Digital FinTech enablement provider, Ukheshe Technologies, together with Infobip, a global cloud communications platform that enables businesses to build connected customer experiences across all stages of the customer journey at scale, have developed South Africa’s very first WhatsApp payment gateway for use by Telkom, one of the country’s largest mobile operators. In addition to being South Africa’s first digital wallet platform, the solution is also the first W

Mar 16, 2021
2 min

Ukheshe Technologies’ Start Path journey and our role in a digital first future

2 min read. In April 2020, Ukheshe Technologies was selected to join Mastercard Start Path, an exclusive startup engagement program for later-stage scaling startups. In the 11 months that followed, we pivoted to a B2B model that focused on the enablement of Mastercard’s digital-first strategy. Our journey continued with the acquisition of Oltio – which developed the digital payments platform that supports Mastercard’s QR code service, Masterpass, in South Africa. while also c

Mar 11, 2021
1 min

Ukheshe: A wallet that works exactly like WhatsApp

2 min read. SA’s first WhatsApp payment gateway joins a trend that lets you send money quickly and securely to anyone with a cell number The Covid-19 pandemic has propelled a shift to digital payments not just globally but in SA. Last month the FM reported that a Mastercard study conducted locally during lockdown revealed that an overwhelming 75% of participants were using contactless payments out of safety and hygiene concerns and a further 64% said they needed to reduce or

Mar 11, 2021
1 min

Ukheshe expands reach to international markets

2 min read. South African micro-payments platform provider Ukheshe is expanding its operations to international markets, eyeing key regions such as Middle East, Europe and Asia Pacific, the company revealed today. The move into global markets comes on the back of ramped up efforts by Ukheshe to establish and enhance key partnerships in Africa, as the continent shifts towards digital channels, products and services. “We will continue to look for potential acquisitions in these

Mar 11, 2021
1 min

A bigger and better Ukheshe – with the best yet to come

2 min read. The last few months have been an exciting chapter in Ukheshe’s growth and development. Our team continues to expand with the brightest talent in our industry who bring with them the extensive skills, knowledge and experience to drive our regional and international ambitions. We are thrilled to have recently welcomed new members to our sales, support, and development teams. With our growing team, we are even more well-placed to meet the demands of our banking, telc

Feb 23, 2021
1 min

Ukheshe to expand African and global reach as a digital-first financial services enabler

2 min read. Ukheshe is looking forward to the coming months as we extend our African and global footprint as a digital-first financial services enabler. Currently, we provide the platforms and technology that support 16 banks and fintechs, three telcos, 3,000 billers, 200,000 merchants, as well as 18 million digital wallets and four million apps combined which process millions of transactions every month. Ultimately, payment solutions allow more people to participate in econo

Dec 15, 2020
2 min

Closing the Digital Divide Reaches Urgent Levels as Covid-19 Leaves Devastation in its Wake

2 min read. There is a growing appreciation of financial inclusion and its role in economic development. Tied closely to this is the role of mobile money and its contribution to promoting financial inclusion and development. According to Clayton Hayward, CEO and co-founder of Ukheshe, an SMME digital banking platform provider, South Africa remains highly regulated with licensed banks being the only institutions that can offer e-money services. This creates a major hurdle, lim

Dec 15, 2020
2 min

Ukheshe’s year in review: growth, achievements and more to come.

2 min read. While 2020 will be remembered for its many challenges, Ukheshe celebrated some significant milestones and achievements. At a crucial time when South Africa is dealing with high employment and low economic growth, we are extremely proud to have expanded our staff complement while being actively committed to promoting financial inclusion for the growth of economies and communities both here at home and across the African continent. Here are just some of our top 2020

Dec 4, 2020
1 min

Payment digitisation took a big leap forward in 2020 – and so did Ukheshe

2 min read. 2020 has certainly been a year unlike any other. Not only did the pandemic push the fast forward button on existing trends, and draw attention to low/no-touch solutions, it also resulted in a renewed focus on the cashless payment revolution and its many benefits. Ukheshe officially turned two in November and we expanded our team to around 50 employees – a definite cause for celebration. This year also saw the launch of Ukheshe Africa, led by Mark Dankworth, which