Ugandan startup Beyonic, which enables businesses to deploy and manage two-way mobile money payments over multiple carriers, has partnered mobile platform company Mobile Accord to take its services into an additional 25 countries.
Beyonic, which currently operates in Uganda and Kenya, partners with mobile network operators and digital financial service providers to allow businesses to make and track mobile money payments on a single platform regardless of carrier.
Its partnership with Mobile Accord, which has long-standing connections with 78 mobile operators in over 44 countries in Africa and Asia, makes Beyonic the largest mobile money aggregator in Africa. The partners are now working to implement an initial roadmap for expansion in 10 key markets, namely Ivory Coast, Ghana, Liberia, Malawi, Mozambique, Niger, Rwanda, Sierra Leone, Tanzania, and Zambia.
Beyonic is based on the premise that mobile money allows businesses and non-profits in emerging markets to make or receive payments in a fast and secure way, reducing the losses associated with cash payments.
The startup’s platform means businesses making mobile payments no longer need to connect individually to every carrier they wanted to send money through, and can manage payments in multiple countries through one intuitive platform.
“For those working in emerging markets, cash payments are riddled with security and logistical issues. Over the past few years, mobile money has become popular both for businesses looking to move away from cash, and for individuals who do not have the means to open traditional bank accounts,” said chief executive officer (CEO) Luke Kyohere.
“Beyonic’s system allows NGOs and businesses to utilise mobile money for expenses with very little set-up, and we are excited to expand this important tool across Africa.”