Nomanini mobile POS reaches a million transactions
South African-based mobile Point of Sale service announces facilitation of a million cash transactions across Africa
18 AUGUST 2014, CAPE TOWN, SOUTH AFRICA
SummaryNomanini today announced that informal vendors and micro-entrepreneurs across Africa have made a million cash transactions using its tough terminal.
Nomanini today announced that informal vendors and micro-entrepreneurs across Africa have made a million cash transactions using its tough terminal.
The South African-based mobile Point of Sale platform was created to enable cash transactions in emerging markets. It has proven popular for the distribution of mobile prepaid airtime and electricity with plans to enable other transactions, such as mobile money and collection of insurance premiums, in the works.
Its rugged point of sale terminals and highly scalable, cloud-based backend enable enterprises to efficiently distribute prepaid vouchers and facilitate micropayments, while creating a sustainable income for entrepreneurs in informal markets.
Nomanini was founded in 2010 and has seen phenomenal growth over the past four years, attracting investment from the likes of Esther Dyson, as well as two rounds of funding from the IDC ’s Technology Venture Capital Fund. It has signed partnerships in Kenya, Nigeria, Zambia and Mozambique with active terminals processing close over one million transactions in those regions, including South Africa.
Vahid Monadjem, CEO and co-founder of Nomanini says, “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.”
"“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.”" Vahid Monadjem, CEO of 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