Tanzanian fintech startup, NALA has added Apple Pay to a list of its payment options for its users based in the US and UK. This will enable cross-border payments to beneficiaries dominating East African markets (Tanzania, Uganda, Kenya, and Rwanda) and Ghana. This update comes after the company deployed a feature that allows the African diaspora to make payments in local currencies.
Launched in 2018 by Benjamin Fernandes as a financial management app for Ugandans and Tanzanians, it has secured licences to operate in the US and UK. To this effect, it expanded its operations to include the diaspora. Africans living outside the continent can make purchases on-the-go.
The new feature, Apple Pay is a mobile payment and digital wallet service developed by Apple Inc. that replaces credit and debit card payments, PIN transactions and contactless in-store payments. With its over 45 million users in the US, NALA would leverage its market size and in turn increase the startup’s customers.
The fintech’s customers in the US and UK can access the Apple Pay feature on the NALA app, which ensures payout to more than 300 banks and 20 mobile money players in Africa.
Speaking on the development, NALA’s CEO emphasised that the new feature is a catalyst to enabling hassle-free access to financial services for Africans. This was said in a statement revealed to TechCabal.
“NALA’s mission is to increase economic opportunities for Africans globally, enabling Apple Pay is a step towards connecting more global payment options with Africa. This reach allows us to build stronger financial infrastructure for Africans worldwide.”