Ukheshe has announced the acquisition of Otlio, a South African startup that provides mobile payment and banking solutions. Among Otlio’s clients is MasterCard South Africa, particularly their new QR payment service. This collaboration strengthens Ukheshe’s involvement with MasterCard from the time of the Mastercard Accelerate Programme that included Fintech Express and Start Path.
In the official press release, Clayton Hayward, the CEO of Ukheshe explained the collaboration with Oltio outlining their mission to include inclusivity via mobile-driven finance solutions. “Digital-first solutions for consumers remain a key priority. By enabling different customer segments as part of our ongoing partnership with Mastercard, Ukheshe is well placed to continue providing fintechs, telcos, and banks with payment solutions, and services that will further deepen financial inclusion in South Africa.”
Otlio was acquired by MasterCard for its technology, skilled workers, and infrastructure that contributed to the development of mobile banking and other digital payment solutions. In September, we covered how Ukheshe’s partnership with MasterCard and Nedbank to provide virtual prepaid cards for everyday businesses.
Ukheshe, is one of the leading fintech providers on the continent helping the banking and telecommunications sectors with microservices that allow fast digital client transactions. Ukheshe is invested in providing scalable, secure, and innovative solutions for the African payments industry.