South African fintech Ukheshe has a new name: EFT Corporation. This follows its acquisition earlier this year of EFT Corporation, an Africa-focused fintech and banking specialist.
Clayton Hayward, CEO of the merged companies, said: “This rebrand marks the beginning of a new era of growth and possibilities. We look forward to facilitating a seamless and interconnected digital payment landscape that empowers banks and individuals to thrive in the digital economy.”
Ukheshe was founded to bring electronic payments to people without bank accounts in Africa. EFT Corporation, a payments solutions provider headquartered in Mauritius, was founded in 1999 and has offices in Ghana, Kenya, South Africa, Zimbabwe and Zambia.
“Since its inception, Ukheshe has onboarded numerous fintechs and major brands, introducing Africa’s first virtual card for WhatsApp transactions and enabling Telkom Pay’s digital payments wallet alongside development of its merchant solution, Telkom mPOS, a mobile point-of-sale solution for small businesses,” Ukheshe (now EFT Corporation) said in a statement on Tuesday.
In 2020, Ukheshe acquired Oltio, the developer behind Masterpass, to bring digital payments to small merchants, changing the brand to Scan to Pay in 2023.
Ukheshe also provides a banking-as-a-service platform in East Africa, through a partnership with Diamond Trust Bank, and allows users to send money across Africa through MTN’s cross-border money transfer solution.
Ukheshe’s proprietary Eclipse API platform has led to the development and growth of financial service offerings across Africa and the Middle East. – © 2024 NewsCentral Media
