MICROCAPITAL BRIEF: Lipa of South Africa Offers Banks Tap-to-pay Service Allowing Informal Merchants to Accept Cashless Payments

Lipa Payments, a financial technology (fintech) firm based in South Africa, is rolling out its flagship digital “tap-to-pay” service, which allows merchants in Africa’s informal sector to accept cashless customer payments using mobile phones, rather than point-of-service terminals. The service, which Lipa is introducing via financial institutions in Nigeria and South Africa, integrates