Kenya’s payments company ImpalaPay and US-based fintech company PesaChoice have successfully finalised a pilot test of cross-border mobile money transfer on the stellar blockchain. The project allows end-to-end transactions of fiat to cryptocurrencies and crypto to mobile.
The stellar blockchain is a platform that provides customisable payments infrastructure such as developer-friendly software and tools.
“The potential for eliminating high costs of transfers and enabling cross-border merchants to use digital payments to access both distant and global markets in a secure financial network is a great leap towards financial inclusion and market expansion to a sector that supports 45% of Africa’s 1.2 billion population,” said chairperson of ImpalaPay Limited Elsie Njane.
ImpalaPay Limited is a peer-to-peer and merchant cross-border mobile payments platform present in 117 countries while PesaChoice is a fintech company founded by three Rwandese with the aim of providing solutions in Africa’s financial technology sector. PesaChoice offers an API which third parties can use to provide payment services. Both companies run stellar nodes and are spearheading the revolution of financial services on the continent.
