STICPAY Launches New Local Payment Partnerships Across Asia, Africa and South America
- 06.09.2023 01:50 pm
STICPAY, a leading global e-wallet service provider and payment gateway, has partnered with nearly 40 new payment providers – including market leaders and challenger fintechs - to help increase unbanked communities’ access to money across Asia, Africa and South America.
In Africa, STICPAY has partnered with payment providers across Benin, Burkina Faso, Cameroon, Ghana, Guinea, Kenya, Senegal and Togo, enabling customers to deposit and withdraw money from STICPAY in new ways - including through mobile payment and crypto. New partners include Airtel, the 2nd largest mobile operator in the world; MTN Group, the 7th largest mobile network operator in the world; Orange Money; Vodafone; and Mpesa, the largest mobile operator in Kenya.
In South America, STICPAY has forged new partnerships across Brazil, Colombia, Ecuador, Mexico and Peru, enabling customers to now send and withdraw money to their STICPAY account via local acquiring, bank transfers, cash payments, vouchers and barcodes, as well as through country-specific methods such as Boleto (Brazil), Efecty (Colombia) and CoDi (Mexico).
In Indonesia, which is forecast to have 202 million mobile wallet users by 2025, STICPAY has partnered with a range of payment providers, including Alfamart, one of the country’s leading convenience store chains with 17,000 stores across the country.
Until now, STICPAY has primarily offered transfer services through local bank wire; thanks to these partnerships, unbanked customers across these developing nations can now transfer money and pay for goods and services far more easily through their e-wallet.
According to research from Juniper, more than 60% of the world’s population will use digital wallets by 2026, with emerging markets driving much of this update. Earlier this year, STICPAY reported use of their e-wallet across Africa had surged 250% in the last year alone, with e-wallets helping to modernise and boost growth in emerging market economies where banking infrastructure is often outdated, inaccessible and poorly distributed.
Sean Park, STICPAY CEO, said:
“As an e-wallet provider one of our key goals is to increase access to money, especially for unbanked communities in developing markets. Communities in developing nations have many different local ways of transferring money, ranging from mobile and crypto to barcodes and vouchers; through these new partnerships, we are empowering our customers across Africa, Asia and South America to send money in a way that is familiar and accessible to them.”