- Vendy is addressing the surprising reality that 90% of SME payments in Africa are still made with cash.
- Vendy is a groundbreaking startup on a mission to revolutionize payments in Africa by enabling offline payments through mobile phones without the need for an internet connection.
- With a clear mission to simplify digital payments and a vision to create a truly cashless Africa by 2030, Vendy's philosophy of financial inclusion and ecosystem building is paving the way for a brighter and more inclusive financial future on the continent.
In a digital age where the world is advancing at lightning speed, where we instantly take out our phones to make a payment, it might come as a surprise that 90% of SME payments in Africa are still done the old-fashioned way – with cash.
But here's where the winds of change blow strong (too dramatic?), and Vendy steps into the spotlight (like the main entry of an actress in a movie).
Founded in 2022 by Kayode Disu and Peter Ekunkoya this innovative startup is on a mission to redefine payments in Africa, offering a lifeline to businesses and customers alike. Vendy helps businesses accept offline payments in Africa. Instead of paying with cash, customers can pay a Vendy merchant on their phones without internet access.
All you need to know about Vendy
Their mission is simple- To simplify how businesses in Africa accept digital payments whether their customers are online or not.
Their Aim- To create a truly cashless Africa by 2030.
Their Philosophy- Vendy is a technology company that enables financial inclusion, especially in emerging markets. Their philosophy is driven by the thinking that every complex problem can be simplified in a manner that creates an ecosystem to ensure the solution is ubiquitous.
They believe that by digitizing the collection of offline payments they would create a lot of efficiencies for SMEs which would create a ripple effect to solve other financial problems faced by our customers.
Vendy is building a Unified Payment Interface for Africa similar to Pix of Brazil and BHIM of India. Using the Request to Pay concept, Vendy offers businesses a proactive way to accept payment via our Merchant App (for SMEs) & Web APIs (for service providers & corporates) and their customers seamless and secure ways to make the payment via STK PUSH (for Offline payments) & “Pay with Whatsapp” (for online, e-commerce & social commerce payments).
Vendy supports the following payment Methods;
i. Cards (All local & International card schemes)
ii. Vendy Direct (Our proprietary payment method)
iii. Wallets (All digital wallets, including mobile money)
iv. Pay with Transfer
By creating a seamless and accessible payment ecosystem, Vendy is unlocking opportunities for SMEs, enabling them to thrive and contribute to the economic development of the region. Vendy is breaking down walls and opening doors to a brighter, more prosperous future for businesses and individuals alike.
Vendy's mission transcends payments; it's a journey toward financial liberation in Africa. Their innovative approach, steadfast philosophy, and unwavering commitment to a cashless future are setting a transformative course, where payments are just the beginning of a brighter, more inclusive financial landscape.
Edited by Shruti Thapa