NilePay PLC, an Electronic Financial Services Company has partnered with Zain South Sudan to launch the first licensed mobile money service in the country.
Most people in South Sudan’s capital Juba rely on unlicensed mobile operators to transfer money through platforms created by MTN Uganda and Kenya’s M-PESA.
NilePay Mobile Money is aimed at eliminating bottlenecks that keep consumers in South Sudan from taking full advantage of global e-Commerce.
“NilePay Mobile Service’s partnership with Zain South Sudan is part of the company’s long- term strategy to enable e-Commerce and digitize financial services across the country” said Darius Mobe, Director, NilePay Mobile Money
Magdi Taha, CEO, Zain South Sudan says the partnership will brıng mobile wallet services to the South Sudan market and make it more convenient and secure for users to withdraw and deposit money to their accounts while participating in the digital economy.
Worldwide, almost 700 million people have registered mobile money accounts, transacting an average of $1 billion a day.
However, another 2 billion people lack access to basic financial services, meaning they miss out on the advantages that mobile money provides.
This move intends to offer the active 2 million mobile users in South Sudan a versatile and secure mobile payment solution.