South African payments solutions startup Wallettec says its mybux digital voucher platform is now operating in 14 African countries and is processing over 20 million vouchers a month.
Launched in Cape Town in 2013, Wallettec is a mobile money integration company that has provided mobile payment solutions in more than 14 African countries, including Kenya, Uganda, Namibia, and South Africa.
The company started life working with banking institutions, and later focused on providing merchants and retailers with the ability to accept instant payments without ever sharing any payment or personal information.
Over the last few years, meanwhile, it has shifted its focus to working with mobile money providers and making mobile money more accessible and easier to integrate with multiple providers in multiple countries. This led to mybux, now one of Africa’s fastest-growing digital vouchers.
mybux is currently operating in 14 African countries including Kenya, Nigeria, Ghana, Rwanda and South Africa, and has been experiencing a steady monthly growth of 25% per cent. It processes over 20 million vouchers a month, and plans to process double that amount by the end of the year. Today, it processes on average between six and 10 transactions a second, 24 hours a day, and services the biggest sports betting and FX trading platforms in Africa.
The company uses API technology across the continent and makes it easy for people including mobile money users to trade on the market. It has eliminated any reliance on card technology and allows mobile money users to transact without the use of a bank account or bank card, but only a mobile number.
mybux will be available in over 20 countries by the end of 2022.