South African payment solutions startup Wallettec says its mybux digital voucher platform is now operational in 14 African countries and processes more than 20 million vouchers per month.
Launched in Cape Town in 2013, Wallettec is a mobile money integration company that has provided mobile payment solutions in over 14 African countries including Kenya, Uganda, Namibia and South Africa.
The company started life working with banking institutions, then focused on enabling merchants and retailers to accept instant payments without ever sharing payment or personal information.
Over the past few years, meanwhile, she has focused on working with mobile money providers and making mobile money more accessible and easier to integrate with multiple providers in multiple countries. This led to mybux, now one of the fastest growing digital vouchers in Africa.
mybux is currently present in 14 African countries, including Kenya, Nigeria, Ghana, Rwanda and South Africa, and is experiencing steady monthly growth of 25%%. It processes more than 20 million vouchers per month and expects to process double that amount by the end of the year. Today, it averages between six and 10 transactions per second, 24 hours a day, and serves the largest sports betting and currency trading platforms in Africa.
The company uses API technology across the continent and makes it easy for people, including mobile money users, to trade in the market. It has eliminated all reliance on card technology and allows mobile money users to transact without using a bank account or credit card, just a mobile number.
mybux will be available in more than 20 countries by the end of 2022.