South Africa’s electronic payments solution for emerging markets Nomanini has facilitated over one million transactions through its point of sale (POS) terminals across Africa, the company announced.
Nomanini said the milestone was reached thanks to strong uptake of its terminals by informal vendors and micro-entrepreneurs across Africa.
“We’re incredibly proud of the work we’re doing in these markets. We could not have achieved this milestone without our vendors in South Africa and partners across the rest of the continent,” said Vahid Monadjem, chief executive officer (CEO) and co-founder of Nomanini.
Initially launched in South Africa, Nomanini’s mobile POS platform was created to facilitate cash transactions in emerging markets, with the company saying its service has proven particularly popular for the distribution of mobile prepaid airtime and electricity.
The company said it plans to expand its portfolio to enable other transactions – such as mobile money and collection of insurance premiums – through its platform.
HumanIPO reported at the start of August Nomanini announced it has secured ZAR4.8 million (US$449,000) funding from South Africa’s Industrial Development Corporation (IDC) to be used on international expansion; while in February the company secured series B funding from Seychelles-based investment company Rockbridge Investments with total raised capital rising to over ZAR20 million (US$1.9 million).