Spring 21 Capstone 640pm

Whether you do business in a store, online, at markets, or any other premises, we've got the perfect SnapScan payment solution for you. With our solutions you can easily add SnapScan to a variety of point of sale, ecommerce, and invoicing systems for simple payments. SnapScan is the smart, simple, and safe way to get paid in a snap.

Founded in 2013, SnapScan originally flourished in coffee shops and at weekend markets. The founding team had extensive experience in banking and mobile money, and knew that payments for these merchants could be greatly improved. Interest in the product grew organically and culminated in SnapScan winning the MTN App of the Year award in 2013. Since then we've been featured in local and international media (CNN, BBC, CNBC, TechCentral), and continue to grow year-on-year.

So far, 3,000 farmers have registered with FarmDrive, borrowing over $130k in loans. That’s a tiny portion of what’s needed across Africa where 65% of the workforce is involved in agriculture, but less than 1% of bank loans go to the industry. And globally there’s a $450 billion funding gap in agriculture, according to FarmDrive.

In a statement yesterday Mukuru CEO Andy Jury said the acquisition will extend Mukuru’s African footprint deep into the urban and rural areas cross Malawi. “This acquisition will bring the benefits of our extensive products and cutting-edge technology to the citizens of Malawi – giving them better options and safe mechanisms to send money to loved ones and ultimately uplift their communities,” he said. Following the acquisition, Zoona Malawi’s agents will operate as Mukuru agents benefiting from a wider product range to offer customers backed by Mukuru’s trusted and established brand name. In addition, agents will benefit from being part of the Southern African Development Corporation (SADC) regional network, increasing their regional exposure and potentially boosting earnings over time.

Mukuru, one of the largest international money operators and remittance companies in Africa, has confirmed that it has acquired Zoona’s operational assets in Malawi along with the technology systems that support its Malawian operations.

By signing up for Mukuru via WhatsApp, users will be able to bypass the onerous task of submitting Know-Your-Customer (KYC) documents to an agent or Mukuru branch in person. Instead, they can submit documents directly to Mukuru’s verifications team. Mukuru will then provide timely feedback via WhatsApp as to whether a prospective customer’s ID documents have been effectively verified or not (and if the customer needs to take further steps). “Our customers already use WhatsApp extensively to create money transfer transactions (comprising more than 30% of our total monthly transaction volume in SA) so we are naturally extending self sign-up services on this channel,” says Jury. “This capability removes key barriers for our customers and increases accessibility to important financial services in South Africa and across our network. By harnessing our technology expertise and ability to innovate around customer pain points, we are boosting financial inclusion by allowing customers to submit their own KYC documents and gain access to higher limits.”

SnapScan evolution