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The rise of Fintechs: a new form of electronic payments in Mozambique

Mozambique’s financial sector is undergoing significant transformations driven by the advance of digital services. In this scenario of change, fintechs have played a crucial role, promoting modernization and innovation in both the banking and non-banking spheres. The accelerated growth of fintechs, especially startups, is being observed in several areas, including e-money, insurance and capital markets. These companies are contributing to the evolution of payment instruments and means, as well as to the introduction of new models for providing financial services, characterized by efficiency and security.

In this article, we present some of the fintechs that are making a name for themselves in Mozambique, mentioning the products and services they provide.

Mukuru

Mukuru is a Southern African financial services platform that offers affordable and reliable money transfers and fintech services to the emerging consumer. With over 100 million transactions to date, the business payment platform uses secure digital payment methods to help companies pay their employees conveniently.

Products and services

Send money;

Mukuro Card;

Mukuro payment;

Mukuro funeral cover;

Send groceries.

Contacts: +258844739160 / +27827089471

Email: support@mukuro.com

Address: 194 Avenida do Rio Limpopo
Maputo, Mozambique.

Multipay

Multiplay is a flexible and fast way to connect to several payment channels through a single integration, saving development time and resources.
Multipay relies on a single, universal reference, uniquely associated with each specific transaction, for easy reconciliation.

Contact: Cell: (+258) 21-311311

Address: R. Francisco Matange, 196. Maputo- Mocambique

Email: info@sislog.com

Ologa Sistemas Informáticos Lda

Ologa Sistemas Informáticos Lda is a company operating in the field of Information and Communication Technologies, with a focus on technological solutions for social and economic development in Mozambique and abroad. The word Ologa is derived from the term “to speak” in Chuabo, a language spoken in central Mozambique. The company has been operating in the market for more than 10 years, dedicated to the area of information technology such as software development, assembly, data network management, technical assistance and the sale of its products.

Products and Services

Software development;

Integrated security systems;

IT technical assistance;

Websites and social media marketing;

Satellite Internet;

IT project management.

Contacts:

(+258) 21 303 482

(+258) 84 201 4888

Email: info@ologa.com

comercial@ologa.com

Papersoft

Papersoft is a company dedicated to the development of innovative technologies, with the aim of providing easy access to companies’ services and products for all communities, anywhere in the world. The company’s commitment is to ensure that everyone can easily take advantage of the services offered by its clients. The company’s core business is focused on solutions for branch banking and agent networks, vigorously promoting access to basic services and financial inclusion throughout Africa.

Products and services

Banking toolkit;

Waynbo – shared agent network;

Content management package.

Address : Av. Tomás Ndunda nº1040, Maputo.

PAYTEK

This is a new Mozambican fintech that operates as a payment services aggregator. It provides payment integration services, application interfaces and access channels for companies and individuals in order to carry out all types of digital financial services, including integrated technology solutions and payment for services.

PAYTEK’s central platform enables interconnection with various financial institutions, including banks and mobile wallets to provide various digital financial services (payments and others), as well as public and private institutions to benefit from integrated solutions with different payment channels and means.

Products and Services

Payment services;

FINTECH software;

Training and consultancy.

Contacts: +258 21308449

Email: info@paytek-africa.com

Address: Av. Filipe Samuel Magaia, 1530

Quick-e-Pay

Quick-e-Pay is an online payment service that exploits mobile wallets as the main source of payments. Quick-e-Pay is actually an online payment processor, focused on local currency and with a sense of interoperability, i.e. regardless of any source, it guarantees the possibility of making online payments for services, online retail sales, donations and much more.

Products Services

Business solutions;

Receiving payments;

Sending invoices;

Precarious.

Contacts : +258 21 08 27 08

Email: info@quickepay.co.mz

Address: Av. 25 de Setembro, Maputo Mozambique

Reboco

Reboco is a development agency dedicated to innovation and technology, specializing in IoT, Hardware, Software and Artificial Intelligence solutions. The company’s focus is to improve people’s lives by creating an environment of technologies that transcend expectations, empowering society to face the challenges of the future.

Products and services

Pagalu – a payment aggregator.

User experience design;

Responsive web design;

User experience design;

Application development;

Data security;

Cloud computing.

Contacts: 87 003 6529

Address: 2nd floor, Rua da Gávea nr.33 SandBox Maputo Maputo City,

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