Fintech platform ImaliPay has announced its expansion into South Africa. This move leverages a partnership with Stitch to rely on its payment and open banking infrastructure. ImaliPay enters the country with vendor partnerships already in place to facilitate buy-now-pay-later services.
Since launching in 2020, ImaliPay has powered over 400 000 litres of fuel, and enabled a total of 30 million trips on ride-sharing platforms in Kenya and Nigeria. They’ve also enabled gig workers to generate savings and access affordable insurance.
ImaliPay provides gig economy workers with access to tailored digital financial services via a one-stop-shop, including savings, insurance, and a buy-now-pay-later marketplace through which workers can affordably access essential tools needed to perform their jobs and earn more revenue.
With ImaliPay, customers can purchase key working capital inputs like fuel, smartphones, and airtime, when they need them, to increase their productivity.
Group Partnerships Manager at ImaliPay, Alexandria Akena, commented: “In South Africa alone, there are over four million gig workers. We want to be able to drive more inclusive financial participation for all of them. We are entering South Africa with a robust ecosystem of marketplace vendors that will serve our customers nationwide.”
Kiaan Pillay, co-founder, and CEO of Stitch, commented, “We’re super excited to be working with the ImaliPay team as they launch in South Africa, and to help them get more money into the hands of the significant gig worker population in this market. Seeing innovative fintech companies like ImaliPay expand to new markets in a matter of weeks and provide compelling products is one of the main reasons we started Stitch.”
