How Upya is empowering distributors with cutting-edge digital payment solutions
For over 15 years, digital payments have revolutionised financial services, with mobile money leading the charge. M-Pesa, launched in Kenya in 2007 and became a global model, facilitating over USD 20 billion in transactions by 2019. Now operating in 10 countries with 30 million users processing 614 million monthly transactions, mobile money serves over 1.35 billion people worldwide, showcasing its rapid adoption.
At Upya, we are at the forefront of this revolution, continuously innovating to empower our distributors with the latest digital payment solutions.
Our “Request to Pay” feature enhances the payment experience by enabling clients to approve payments with just a click – both on Android or on block phones. This feature is available on the Upya mobile application allowing field agents to request payments during client onboarding at the point of sale or at other times throughout the life of the contracts. When used on the Upya Web based application, administrative and customer support staff can send payment requests a few days before their clients’ next payment are due. This seamless process not only simplifies transactions but also boosts customer engagement and can improve repayment rates due to the convenience and timely reminders it offers.
Our client-facing app “Wingu” streamlines payment management for customers. Reminders for ongoing repayments can be sent without the need to bear SMS costs. This mobile application acts as a personal store in every customer’s pocket, making it easier for off-grid distributors to connect with their clients.
The impact of digital payments
In sub-Saharan Africa, mobile money enabled millions of individuals and businesses to engage in the economy, fostering entrepreneurship and improving living standards. The impact of mobile money extends beyond transaction volumes. In Kenya, M-Pesa contributed to a 2% reduction in poverty, lifting around 250,000 people out of poverty. It also created approximately 180,000 jobs and accounts for 8% of formal employment in the country.
What’s next for mobile money?
Groundbreaking updates are on the horizon. As financial institutions and technology companies explore the integration of artificial intelligence and blockchain into mobile payments, we expect to see improved security measures and faster transaction speeds.
If you are ready to streamline your payment processes, drive customer engagement, and take your business to the next level, book a demo with Upya today and discover how our digital payment solutions can benefit you.
– Upya