FinTech Start-Ups ( Business-2-Business )
Fintech has Become a Buzzword in Recent Years. It largely Represents Startups Changing The Way Money and Financial Services are handled, by Both Businesses and Corporates. Their Developments can be as subtle as the payment gateway used when purchasing your next Blu-Ray, to The App That Helps Pay for your Parking.
1 Peach Payments ( B2B )
This Payment solutions Gateway for E-Commerce and Mobile Businesses also offers Real-Time Fraud Protection, single click, and Recurring Payments.
While some may Wonder why a Standard Solution like this is on our list, the company initially received US$25 000 in Funding from
accelerator 88mph in 2013, and is now part of the Barclays Rise Innovation Programme. It must be doing something right.
2 Yoco ( B2B )
A Hybrid Fintech hardware and App Startup, Yoco is sitting in the Mobile Payments Space Dominated by the likes of SnapScan but is
Clawing out a niche for itself. This company Targets small to Medium Companies who require the portability of a card reader. The App also tracks cash purchases, sends physical receipts, and delivers business insights.
3 Electrum (B2B)
Part of the Grindstone Accelerator by Knife Capital, Electrum is used to deliver remittances, loyalty rewards, and value-added
services to consumers. It eliminates the need for a payment processor and handles EMV Open Loop, Closed Loop, Internet, Mobile
The company has partnered with the likes of Amazon, Google, and Microsoft; while connecting Capitec, MTN, PayFast, Pick n Pay, and the South African Reserve Bank to consumers.
4 WiGroup ( B2B )
What started off as the first mobile wallet in SA in 2008, WiGroup has evolved into a facilitator of mobile transaction services. To
date, the company has facilitated over R5.2-billion worth of transactions. Some of their customers include big names Pick n Pay,
Vodacom, and Woolworths.
In 2014, SA banking institution Investec Asset Management purchased a ‘significant’ stake in the startup for R400-million. While the
exact amount hasn’t been specified, the bank owns between 25% to 50% of the company.
The startup is no stranger to awards either. In 2014, the company took top honours at PwC’s Accelerator ‘Local to Global’ Expo.
has also been a landmark year for WiGroup: the company won the Best Alternative Payments Platform award at the Card and
ePayments Africa Awards, the Maverick Award for Technology Innovation, and the Premier’s Recognition for Excellence in
Entrepreneurship at the recent PERA Dinner.
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