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Payments platform provider Nomanini is rolling out its second-generation Point of Sales (PoS) designed for informal markets.
The new device, called eLula, will enable merchants with more “sophisticated insights” via a new cloud platform. The device also enables merchants with the means to sell different types of services electronically.
Nomanini’s flagship product, the Lula terminal, is a rugged, waterproof, GSM-connected PoS device for printing PIN-only products. The device enables people in informal markets to buy prepaid products such as airtime vouchers. Though company CEO Vahid Monadjem says that this is just the tip of the iceberg.
Kitted with an electronic paper screen, normally used for e-readers, the CEO hopes the eLula would enable merchants to maximise opportunities:
Our clients want a variety of services, and our devices can be used to deliver a number of fast-moving virtual goods, such as prepaid electricity and water. eLula takes that foundation and provides the appropriate tech for informal markets to deliver these virtual goods, and we plan to expand into other services — such as microfinance — in the future.
The new device would also enable merchants to access an updated management platform, providing analytics such as sales predictions. “Our new dashboard drives efficiency for enterprise prepaid distributors, telling them which merchants are selling, where the sales hotspots are, which aren’t selling and why,” said Monadjem.
The South African fintech startup is fast establishing itself as a leader in prepaid sales across the continent. In February this year, the company boasted serving over one million end users.
Over the last few years, Nomanini has enjoyed a total of over US$2.5-million in investments and is currently active in a handful of countries across Africa. In September, Fundamo founder Hannes van Rensburg joined the startup’s board as advisor.