The East African market FinTech space is rife with competition. Just recently, Kenya’s biggest mobile service carrier Safaricom launched the 1Tap service allowing people to pay for goods by simply taping at the merchant’s mobile Point of Payment (mPOS). Then the money to pay for bought goods and services are immediately transferred from their M-Pesa wallet to the merchants M-Pesa wallet as a form of cashless transaction.
Well, another Kenya-based FinTech company has released mPOS kit for merchants to accept cashless payments at their stores. Pesapal, has launched Sabi, a chip-and-pin NFC powered mPOS looking to free merchants and customers from the burden of carrying paper cash around with them. Instead, the customer will make payments for good and services bought at the store by simply focusing their phone near the Sabi mPOS unit and make the payments digitally.
From the face of things, Sabi seems to be having an upper hand over Safaricom 1Tap service. The latter is restricted to customers using the mobile wallet M-Pesa; which there aren’t that many outside Kenya in the East African region. While with Sabi, any user …read more