TechInAfrica – SA’s QR cash card and microtransaction platform, uKheshe, has been selected to be one of the finalists of the 2019 Global Fintech Hackcelerator @ Southern Africa competition. The initiative is launched by the South African Reserve Bank (SARB) and powered by KPMG Matchi, a FinTech/bank matchmaking platform.
The initiative is a FinTech acceleration program aiming at providing a platform for companies to showcase their innovative solutions to address challenging issues in the financing sector in the Southern African region.
The platform was launched in November last year. It allows customers to make and receive payments using a QR code card and a smartphone that installed the app. It does not require a bank account as it uses e-wallet where people pay into it. It is Masterpass certified and meeting people’s lifestyle needs by accepting payment from most banking apps as well as from Zapper.
Only recently, it launched affordable life and health insurance options for cardholders with various advantages, such as hospital, disability, and emergency cover.
According to the Co-Founder of uKheshe, Clayton Hayward, the uKheshe platform aims at improving financial inclusion in the country as it still has over 11 million unbanked population to reach out.
“Many necessary and even life-saving financial services and insurance products are simply too prohibitively expensive for low-income earners and their families. uKheshe is ideal for consumers and employers looking for an innovative and affordable alternative.”
As one of the finalists at the Global Fintech Hackcelerator, uKheshe will demonstrate its solution at the Southern African Demo Day on October 29th, 2019, in Johannesburg.
“We are thrilled uKheshe has been acknowledged as an important contributor towards financial innovation and inclusion, particularly for unbanked and underbanked consumers. Being chosen as a finalist in this year’s Global Fintech Hackcelerator affirms our commitment to delivering easy, hassle-free and affordable fintech solutions to those that need them most,” said Hayward.
For further information about uKheshe, please visit www.ukheshe.co.za