In Saharan Africa, it can be easily frustrating to carry out the most basic financial transactions like paying for groceries at a local market or paying for your transport fair. This is because 98% of all such transactions are still limited by physical cash.
To make matters worst accepting credit cards is out of the question because commission fees are high (usually 2-3%) for SMEs and also most Sub-saharan Africans don’t have a bank account.
Spot Cash is committed to addressing the numerous challenges faced by cash-dependent transactions.
We are digitalizing these transactions with the use of Qr Codes and NFC through tokenized payments in a way that users and merchants do not necessarily need to use smartphones to perform transactions, which is the best fit for the Region.
We currently have an MVP for our Mobile App which will be free to download and a prototype of our dedicated mobile payment terminal which will be used to accep transactions on our proprietary payment netw