Prophius, a Nigeria-based financial technology (fintech) firm, recently entered a partnership with US-based technology provider Mastercard, to equip its PayContactless service to allow its users to accept payments on their Android mobile phones from customers’ payment cards, e-wallets and smart watches. The service, which uses near-field communication (NFC) technology, is due to be rolled out starting in October in markets such as Ghana, Kenya, Nigeria and Uganda.
In addition to PayContactless, Prophius, which was founded in 2019, also offers Fintribe, an app that facilitates agent banking. Financial data on the firm remains confidential.
Headquartered in the US state of New York, Mastercard connects consumers, financial institutions, merchants and governments in approximately 210 countries and territories. For the quarter ending March 2022, the firm reported net revenue of USD 5.2 billion.
Sources and Additional Resources
Vanguard article
https://www.vanguardngr.com/2022/09/prophius-partners-with-mastercard-on-tap-on-phone-payments-for-smes-in-sub-saharan-africa/
Prophius homepage
https://www.prophius.com
PayContactless homepage
https://paycontactless.app
Crunchbase profile on Prophius
https://www.crunchbase.com/organization/prophius
Mastercard homepage
?https://www.mastercard.com
Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: Mastercard, Vodafone Fiji Partner to Provide Debit Cards to Mobile Money Users
- MICROCAPITAL BRIEF: Baab Mobile Money App Combines Cryptocurrency, Traditional Financial Accounts
- MICROCAPITAL BRIEF: Copal App to Help Parents, Youth in Egypt to Manage Finances via Mastercard Payment Network
- MICROCAPITAL BRIEF: Diamond Trust Bank (DTB) to Offer Fintechs in Kenya Access to Mastercard Payment Cards
- MICROCAPITAL BRIEF: DFC to Support Mastercard Community Pass Program to Expand Access to Digital Services in Africa, India
