Nomanini integrates with M-Pesa for merchant cash-in

South Africa-based enterprise payments platform provider, Nomanini has announced it has integrated with M-Pesa in Mozambique to allow merchants to use mobile money agents as a means of topping up their virtual vending accounts on Nomanini terminals.

07 MARCH 2016
Summary
South Africa-based enterprise payments platform provider, Nomanini has announced it has integrated with M-Pesa in Mozambique to allow merchants to use mobile money agents as a means of topping up their virtual vending accounts on Nomanini terminals.

Nomanini provides a proven technology platform to enable transactions in cash-based informal retail sectors in Africa, with its end-to-end solution designed for informal market environments.

Integration with Vodacom’s M-Pesa service in Mozambique allows merchants to deposit cash with M-Pesa agents in order to top-up their terminals. This new method of merchant cash-in is already implemented in the country with several thousand merchants.

“We see a strong convergence between what we do at Nomanini and the services offered by mobile money providers,” said Nomanini CEO, Vahid Monadjem. “Integrating with services such as M-Pesa helps make mobile money more accessible to consumers and offers merchants and enterprises in informal markets the opportunity to increase their margins and reduce their working capital requirements. With this integration in Mozambique, we have begun that journey.”

The integration with M-Pesa means merchants, who receive cash payments for virtual products such as prepaid electricity or airtime, are able to deposit this cash with mobile money agents, topping up their virtual vending accounts with mini-bulk cash deposits.

“Being able to top-up their virtual vending accounts via mobile money helps merchants manage their liquidity, as deposits can happen more frequently and require them to travel less far. It decreases the risk of handling large amounts of cash for prolonged periods, and also allows merchants to gather an electronic record of transactions that can help them gain access to credit.”

Nomanini’s goal is to support the integration of the payments ecosystem into the general retail sector by scaling up merchant usage of mobile money in three phases.

“Mini-bulk payments are just the first phase of what we plan to do with mobile money. As part of the second phase, we plan to move into nano-cash/single dollar cash deposits and withdrawals into mobile money wallets, facilitated for the consumer by the merchant. The third phase is for merchants to become comfortable enough with mobile money that they begin accepting mobile money as payment for their own goods,” says Monadjem.

Mobile money integration has benefits across the board, with customers and mobile operators also benefitting from the move. Consumers will gain from the greater availability of mobile money services, with informal retailers being between 10 to 20 times more prevalent than mobile money agents. This in turn increases affordability, as general retailers can afford to transact lower values since they are not dependent on mobile money transactions for margins. For operators, Nomanini helps to increase merchant-side acceptance of mobile money, increasing customer usage.

The enabler for Nomanini’s integration with mobile money is its second generation eLula terminal, with the new product’s variable touchscreen assisting the company in expanding its offerings.

“Nomanini’s system is integrated and instantly reconciles the merchant’s mobile money account. It’s a seamless experience for merchants, allowing for faster, easier transactions,” says Monadjem.

Quotes
"We see a strong convergence between what we do at Nomanini and the services offered by mobile money providers." Vahid Monadjem, CEO of Nomanini
"We see a strong convergence between what we do at Nomanini and the services offered by mobile money providers. Integrating with services such as M-Pesa helps make mobile money more accessible to consumers and offers merchants and enterprises in informal markets the opportunity to increase their margins and reduce their working capital requirements. With this integration in Mozambique, we have begun that journey." Vahid Monadjem, CEO of Nomanini
"Being able to top-up their virtual vending accounts via mobile money helps merchants manage their liquidity, as deposits can happen more frequently and require them to travel less far. It decreases the risk of handling large amounts of cash for prolonged periods, and also allows merchants to gather an electronic record of transactions that can help them gain access to credit." Vahid Monadjem, CEO of Nomanini
"Integrating with services such as M-Pesa helps make mobile money more accessible to consumers and offers merchants and enterprises in informal markets the opportunity to increase their margins and reduce their working capital requirements. With this integration in Mozambique, we have begun that journey." Vahid Monadjem, CEO of Nomanini
"Mini-bulk payments are just the first phase of what we plan to do with mobile money. As part of the second phase, we plan to move into nano-cash/single dollar cash deposits and withdrawals into mobile money wallets, facilitated for the consumer by the merchant. The third phase is for merchants to become comfortable enough with mobile money that they begin accepting mobile money as payment for their own goods." Vahid Monadjem, CEO of Nomanini
"Being able to top-up their virtual vending accounts via mobile money helps merchants manage their liquidity, as deposits can happen more frequently and require them to travel less far. It decreases the risk of handling large amounts of cash for prolonged periods, and also allows merchants to gather an electronic record of transactions that can help them gain access to credit." Vahid Monadjem, CEO of Nomanini
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About Nomanini

As the pioneering fintech platform for the informal retail ecosystem, Nomanini connects merchants and distributors to each other and global service providers, integrating payments, working capital, and data analytics to unlock the latent potential of Africa’s economy.

Nomanini turns any mobile device into a retail point-of-sale solution for informal merchants that is connected to an interoperable merchant wallet. The interoperable merchant wallet allows merchants to offer a broad range of digital banking (including cash-in/cash-out), mobile, utility and entertainment services to their customers boosting competitiveness. In turn, digital service providers rapidly increase the scale and reach of their offerings. By generating real-time insights based on transaction data, distributors using the platform gain a single view of their merchant network, ensuring inventory is where it is needed most to improve sales. Distributors can also begin to accept payments for goods electronically, eliminating the risk and inefficiency of collecting cash. With data analytics, Nomanini helps extend working capital loans to merchants via distributors allowing them to invest in inventory to grow their businesses. The increased volume of goods and services set against reduced operational friction increases the profits for all platform participants.

Nomanini was founded in 2010 and is headquartered in South Africa.

For more information, please visit https://www.nomanini.com

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