Beyonic, a technology company that aims to eliminate rampant
use of cash in emerging markets and Mobile Accord, another mobile platform
company with expertise in building scalable mobile solutions have agreed to
bring their services to additional 25 countries, ITRealms
reports.
With this announcement the partnership will make Beyonic the
largest mobile money aggregator in Africa. Beyonic currently operates in Uganda
and Kenya, and will leverage Mobile Accord’s expertise in building mobile
solutions and relationships with leading mobile carriers as its (Beyonic) online
platform enables businesses to quickly deploy, track and manage 2-way mobile
money payments over multiple mobile carriers with one, easy-to-use system.
ITRealms gathered that Mobile
money allows those in emerging markets to pay or receive money through even the
most basic mobile phones. For NGOs and businesses working in emerging markets,
mobile payments enable fast, secure money transfers and reduce losses
associated with cash payments. However, until now, businesses making
mobile payments needed to connect individually to every carrier they wanted to
send money through, a time-consuming process for organizations that are
operating in multiple countries. Beyonic’s cross-carrier solution allows
businesses to manage payments in multiple countries through one intuitive
platform.
The Chief Executive Officer (CEO), Beyonic, Luke Kyohere, said, “For those working in emerging markets, cash payments are riddled with security and logistical issues. Over the past few years, mobile money has become popular both for businesses looking to move away from cash, and for individuals who do not have the means to open traditional bank accounts. Beyonic’s system allows NGOs and businesses to utilize mobile money for expenses with very little set-up, and we are excited to expand this important tool across Africa.”
The Chief Executive Officer (CEO), Beyonic, Luke Kyohere, said, “For those working in emerging markets, cash payments are riddled with security and logistical issues. Over the past few years, mobile money has become popular both for businesses looking to move away from cash, and for individuals who do not have the means to open traditional bank accounts. Beyonic’s system allows NGOs and businesses to utilize mobile money for expenses with very little set-up, and we are excited to expand this important tool across Africa.”
Using Beyonic’s
online interface, companies can manage payments to employees, aid beneficiaries,
and vendors. The ability to make and track payments across any network, ITRealms learnt, opens up mobile money to businesses
which previously did not have the resources to connect to every carrier in a
country. Beyonic is already integrated with prominent mobile money
systems including MTN and Airtel in Uganda and Safaricom’s m-Pesa in Kenya, and
has been used by organizations including Save the Children, Educate! and
Innovations for Poverty Action to reduce the need for cash payments and
increase operational efficiency.
Mobile Accord has direct relationships with 78 mobile carriers in 44 countries in Africa and Asia and will use its connectivity to expand Beyonic’s reach. Together, Mobile Accord and Beyonic will work to implement a roadmap for expansion, starting with 10 key markets: Cote D’Ivoire, Ghana, Liberia, Malawi, Mozambique, Niger, Rwanda, Sierra Leone, Tanzania, and Zambia.
Mobile Accord has direct relationships with 78 mobile carriers in 44 countries in Africa and Asia and will use its connectivity to expand Beyonic’s reach. Together, Mobile Accord and Beyonic will work to implement a roadmap for expansion, starting with 10 key markets: Cote D’Ivoire, Ghana, Liberia, Malawi, Mozambique, Niger, Rwanda, Sierra Leone, Tanzania, and Zambia.
Cyriacus Nnaji/GEE
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