StreetCred (Zambia) secures exclusive partnership with Nomanini

Replacing the age-old scratchcard with portable electronic PoS designed for informal markets

17 DECEMBER 2014
Summary
Zambian airtime distributor StreetCred (Zambia) Ltd. this week secured an exclusive partnership with Nomanini - a South African-based mobile point of sale service that specialises in facilitating cash transactions in informal markets. StreetCred plans to encourage Zambian mobile operators and airtime distributors to join it in switching to Nomanini’s platform.

Zambian airtime distributor StreetCred (Zambia) Ltd. this week secured an exclusive partnership with Nomanini - a South African-based mobile point of sale service that specialises in facilitating cash transactions in informal markets.

Vahid Monadjem, CEO of Nomanini, comments: “We have been working with StreetCred for the past nine months or so, trialing and increasing the number of PoS terminals, and we are very pleased to enter into an exclusive partnership with them in Zambia.”

Nomanini’s cloud-based PoS system is gaining popularity across Africa, with active terminals processing a million cash transactions a month across South Africa, Namibia, Kenya and Mozambique.

The solution was designed to be a more flexible and cost-effective version of the airtime scratchcard it replaces, as Monadjem explains: “Informal vendors can use the terminal to sell and print airtime vouchers as required, so there’s no need for retailers to buy scratchcards in bulk and then worry about selling all the stock. And distributors don’t need to print and deliver anything either. All that’s required is a roll of till paper and the terminal, which can be used even when there’s no internet access or electricity.”

StreetCred plans to encourage Zambian mobile operators and airtime distributors to join it in switching to Nomanini’s platform.

Prince Nyati, founder of StreetCred (Zambia) Ltd., comments: “Since we started operating in Zambia, it has become clear that this is the best product on the market today. The fact that it is truly mobile and built to physically withstand the rough operating requirements of the African market has made it easy for us to deploy it in locations that were previously not accessible to electronic voucher distributors (EVDs).

“The long battery life and car charger allow vendors to manage challenges associated with unreliable power supply and enable them to access remote markets.

“We are confident that this device will transform the airtime industry from a scratchcard-based market to an electronic one, and we are pleased to partner with Nomanini in its rollout in Zambia".

If all goes according to plan, StreetCred and Nomanini will look to extend their partnership to include the distribution of prepaid electricity vouchers in the very near future.

“Our platform is highly customisable, and can be modified to facilitate just about any cash transaction, including prepaid electricity and water, microloans, and even bus ticketing”, says Monadjem.

About StreetCred

StreetCred is a one-stop electronic payment solution provider geared to serve segments of the sub-Saharan African population that have limited access to technology. StreetCred’s vision is to empower entrepreneurs from the grassroots and upward through low-cost and easy to access technology. And in so doing, bridge the gap in service delivery between formalised traditional financial and other service providers to reach the unbanked.

Among the services StreetCred is taking to market: mobile airtime and pre-paid electricity distribution, micro-finance banking and money transfers, bus ticketing and numerous PIN transactions.

Quotes
"We have been working with StreetCred for the past nine months or so, trialing an increasing the number of PoS terminals, and we are very pleased to enter into an exclusive partnership with them." Vahid Monadjem, CEO of Nomanini
"Since we started operating in Zambia, it has become clear that this is the best product on the market today. The fact that it is truly mobile and built to physically withstand the rough operating requirements of the African market has made it easy for us to deploy it in locations that were previously not accessible to electronic voucher distributors (EVDs). The long battery life and car charger allow vendors to manage challenges associated with unreliable power supply and enables them to access remote markets. We are confident that this device will transform the airtime industry from a scratchcard-based market to an electronic one, and we are pleased to partner with Nomanini in its rollout in Zambia." Prince Nyati, founder of StreetCred (Zambia)
"Our platform is highly customisable, and can be modified to facilitate just about any cash transactions, including prepaid electricity and water, microloans, and even bus ticketing." 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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