Digital revolution and route-to-market strategies have been tipped to drive African growth in the next five years.
With over a billion people, and almost 60 per cent under the age of 25, Africa has a large consumer base, and regional uptake of digital technology is even allowing for greater consumer access.
Capitalising on these opportunities, along with developing a route-to-market strategy, can provide opportunities for companies in the near and long term.
That opportunity is what retail point of sale service provider, ZirooPay has decided to capitalise on.
The tech company says it is developing a unique mobile Point Of Sales, POS technology that will serve as backbone and operating system for retail in Africa to thrive.
The mobile POS technology according to ZirooPay will not only drive financial inclusion but also support the payment infrastructure needed for retail to thrive on the continent.
ZirooPay leverages mobile POS technology to address Africa’s infrastructure decay
The company says it will leverage its recent funding round of $11.4 million to tap into the growing opportunities in Africa’s retail sector, and hopefully, fuel its long term strategic growth plan.
ZirooPay’s mobile POS technology will enable small businesses to process card payments in real-time, even when there is no internet/data connection.
Chief Executive Officer, ZirooPay, Omoniyi Olawale said innovation payment solutions such as ZirooPay will remain an imperative as wholesale and retail sectors continue to dominate Africa’s contribution to its GDP, even as population growth and rapid urbanisation continue to drive consumption across the continent.
He said: “Lack of reliable payment technology for the continent remains one of the major challenges hindering trade tremendously and ZirooPay Mobile POS solution will address this challenge.
“Our payments solution is fast, simple and reliable, delivering a 95 per cent transaction success rate for POS transactions compared to the industry’s average of 25 – 50 percent.