Digital payment service provider SasaPay has undergone a rebranding and introduced a new financial strategy aimed at the mobile money payment market for diaspora customers.
This new strategy is designed to provide a secure payment experience for a wide variety of businesses, from lenders to Small and Medium Enterprises (SMEs). The company plans to act as a bridge between businesses and capital providers, facilitating quick and affordable access to working capital.
Daniel Njoroge, SasaPay’s Chief Operating Officer, said, “Through our rebrand, we aim to redefine the role of payments and act as the meeting point between Kenyan businesses and their customers. Key to this will be empowering them to operate more efficiently to accelerate growth.”
In line with Sustainable Development Goals (SDG), SasaPay plans to use AI-based innovative technology. This will enable businesses to scale by providing timely and accurate data to capital providers, speeding up their decision-making process in funding.
SasaPay users will also have the option to “Shop Now Pay Later” through its Buy Now Pay Later (BNPL) model.
Njoroge stated that SasaPay will be the first to enable Kenyans to transact in foreign currency via their wallets, a breakthrough made possible through its CBK-Regulated partner WapiPay.
This development comes after Absa Bank launched remote services for Kenyans in the diaspora.
According to the Central Bank of Kenya (CBK), about 42 million mobile money transactions valued at about Sh106.6 billion are made per day in Kenya, with 28 million mobile money subscribers in the country.
Financial inclusion in the country has risen from 26.7 per cent in 2006 to 83.7 per cent in 2021.