Talk360, a renowned international calling app, has unveiled its latest initiative, NjiaPay, a dedicated payment platform designed to address the unique challenges of African merchants. Operating as a separate entity, NjiaPay aims to streamline transactions across the continent, leveraging AI and machine learning to enhance payment success rates, particularly for small and midsized businesses.
The decision to establish NjiaPay aligns with Talk360’s broader mission of connecting migrant communities worldwide. As Hans Osnabrugge, Co-founder and CEO, emphasised, this move allows the company to double down on its core mission while fostering a payment ecosystem tailoured to Africa’s diverse economic landscape.
Talk360 has consistently addressed the needs of Africa’s underserved population. In 2022, the company raised $7 million to tackle payment barriers faced by its users. Challenges such as limited access to online banking and regional currency incompatibility hindered customers from purchasing airtime for the app. NjiaPay, initially developed for in-house use, significantly boosted payment conversion rates by 25%, demonstrating its potential to empower merchants when expanded externally.
The new platform is poised to provide a seamless checkout experience, integrating over 160 payment methods to accommodate local and global transactions. It promises to cater to diverse merchant needs, a leap forward in unifying Africa’s fragmented payment systems.
As digital payments gain traction in Africa, Talk360’s decision to launch NjiaPay comes at a pivotal moment. The platform addresses a critical gap: the high rate of failed transactions for small businesses, a persistent issue for African merchants. Through the integration of machine learning algorithms, NjiaPay is expected to optimise transaction success rates, thus fostering economic growth.
This initiative complements Talk360’s ambitious growth plans. The company recently raised $1.4 million in pre-Series A funding, boosting its valuation to over $30 million. This funding will not only expand Talk360’s presence but also support NjiaPay in achieving profitability while connecting an estimated 7 million users by 2025.
