DEMO Africa: iPay provides mobile money, card payment solution Dennis Mbuvi
Based in Nairobi, Kenya, iPay is an enterprise merchant payment solution provider and integrator.
Co-founder Phillip Nyamaya says the firm has integrated a number of mobile money payment gateways such as M-Pesa, Airtel Money, YuCash and card based payment systems including Visa, Kenswitch and MasterCard into the solution.
iPay is then availed to merchants through both an online based payment system or through a Point of Sale (POS) system. The solution is one of the few in Kenya to integrate mobile money on a POS, though the transaction appears to be lengthy on the payers side.
iPay has raised about $50,000 to date and is looking for $500,000 to $ 1 million in additional funding. At Demo Africa, the firm is looking for exposure, potential investors to help it in scaling through Africa , strategic partnership and mentorship.