New Payments Company enza group Launches to Serve African Banks and Fintechs

Set up a team of payment industry experts enza groupis a new payments company focused on serving the needs of banks, fintechs and MNOs across Africa.

The enza group was formed to meet the demands of a rapidly expanding market and accelerate the movement of consulting company McKinsey estimates that only 5-7% of all payment transactions in Africa are digitized. As a result, it is clear that cash is still king across the continent.

Digital payments adoption in Africa has been fairly slow compared to other parts of the world, but McKinsey predicts this will change soon. A consulting firm expects the African electronic payments market to grow by around 150% by 2025.

The group focuses on providing native digital payment capabilities to institutions that want their customers to be able to accept or make electronic payments. Banks previously dominated this space in the sector, but MNOs, fintechs, and government agencies are increasingly serving.

enza’s platform is a token-based, cloud-native, API-first system. The platform provides an open development environment aimed at accelerating integration and improving technical flexibility.

enza provides a ‘blank canvas’ for innovation

Honey Fekli, Group CEO of enza Group, said: Our focus is to create a seamless digital fabric between payment channels, schemes, integrations and more. This allows clients to access what they need with enza without having to provide the service natively. ”

Hamish HoustonGroup COO enza group, said: , and Agile. Agility cannot be retrofitted to legacy systems and operations. ”

The company will continue to expand its existing team and will open a new office in Cairo, Egypt in January 2023.

The enza group has attracted a board with “substantial experience in banking, payments and African geography”.like Mark Richards,Previously barclays He is currently a board member of a bank and financial group. Nova Ljublyanska Bank I am the new chairman of enza.

Marcello Barricordi He will also join the team as a non-executive director. Baricordi used to say visa When First Data Internationalhighlighting strong experience in the sector available to new groups.

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