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Sub-Saharan Africa’s mobile payments space is getting more exciting by the day.
South Africa based mobile Point of Sale (PoS) startup Nomanini today announced that vendors and micro-entrepreneurs have made more than a million transaction using its system since its founding in 2010.
Nomanini is popular for its mobile PoS terminal which gives the merchant the ability to sell airtime, electricity, insurance process other cash based transactions.
Just a few weeks ago, Nomanini received a second round of investment of R4.8-million from the Industrial Development Corporation (IDC).
The terminal is described as a rugged PoS device that’s backed by a “highly scalable”, cloud-based backend. This will enable enterprises to efficiently distribute prepaid vouchers and facilitate micropayments, while creating a sustainable income for entrepreneurs in informal markets.
The company operates in Southern Africa with a long-term vision of tapping into unbanked markets of Nigeria and Ghana, and possibly Namibia, Guinea, Morocco and Zambia.
Vahid Monadjem, CEO and co-founder of Nomanini says, “We’re incredibly proud of the work we’re doing in these markets. We could not have achieved this milestone without our vendors in South Africa and partners across the rest of the continent.”