Tech in Africa
SA financial wellness an inclusion fintech startup Paymenow is offering a solution where Shoprite users can directly buy necessities such as food, pre-paid electricity, and airtime directly from the retailers. In addition, employers can pay their employees a portion of their wages and salary before the due date.
The firm is looking to roll out a similar feature for other stores such as Pick n Pay and Boxer Superstores. Bryan Habana, the prolific rugby champion is now a business development head at Paymenow. He also pointed out the high rate of inflation and the need for South Africans to “ stretch their rand” particularly in the case of life-saving necessities.
Paymenow is looking to shift the need for South Africans to opt for predatory payday loans, through their clever solution. Last year we shared how the Stellenbosch-based startup raised $231K seed funding from ViaMedia.
