Rwanda’s national e-payment system, RSwitch, has partnered with one of Africa’s fintech experts, EFT Corporation. This partnership comes in a bid to develop Rwanda’s financial technology, giving Rwandans ingress to their finances on various technology platforms.
RSwitch is set to gain massively from this contract, which includes swift transactions from bank to bank, ATM, and mobile money transactions. These aids will come from EFT’s end-to-end payment solution.
The actualization of these benefits will give Rwanda an acceleration in its local economy.
RSwitch, founded in 2003, has continually worked to see its vision for immediate electronic payment in Rwanda become a reality. Over the years, it has served as Rwanda’s Interoperative financial solution company. Thus developing an online platform that helps merchants receive payments from various channels, which include MasterCard, Visa, Amex, Union pay, Smartcash, and Mobile Wallets.
According to reports, Mathieu Rwiyereka, RSwitch’s CEO, stated, “These are fascinating times for RSwitch, and this partnership will enable us rapidly increase our payments capabilities by benefiting from EFT’s powerful technology solutions. Our mission is to extend full financial inclusivity to every citizen in Rwanda, and we will continue to innovate and bring new products and services to enable this to happen,”.In reiteration, EFT Corporation COO, Grant Flanagan, said, “The RSwitch team has a proven history of designing and delivering world-class financial services to its citizens across Rwanda. We are proud to be working with such an innovative company. Our collective accomplishments and technology will further hasten financial solutions to millions of people in Africa and will be another landmark moment in EFT’s continued expansion,”.
The East African technology ecosystem is gradually taking a new shape, as other nations in this region are doing one thing to improve its development. In the last few days, we have seen partnerships in Uganda for AI development and Kenya’s latest NIFC for fintech. So a change is taking place in East Africa.