Nomanini, a South Africa-based enterprise payments platform provider, has announced the integration with M-Pesa in Mozambique to allow merchants to use mobile money agents as a means of topping up their virtual vending accounts on Nomanini terminals.
This integration with M-Pesa means merchants, who receive cash payments for virtual products such as prepaid electricity or airtime, are able to deposit this cash with mobile money agents, topping up their virtual vending accounts with mini-bulk cash deposits.
“We see a strong convergence between what we do at Nomanini and the services offered by mobile money providers,” said Vahid Monadjem, CEO of Nomanini.
He added, “Integrating with services such as M-Pesa helps make mobile money more accessible to consumers and offers merchants and enterprises in informal markets the opportunity to increase their margins and reduce their working capital requirements. With this integration in Mozambique, we have begun that journey.”
Mobile money integration has benefits across the board, with customers and mobile operators also benefiting from the move.
Consumers will gain from the greater availability of mobile money services, with informal retailers being between 10 to 20 times more prevalent than mobile money agents. This in turn increases affordability, as general retailers can afford to transact lower values since they are not dependent on mobile money transactions for margins.
For operators, Nomanini helps to increase merchant-side acceptance of mobile money, increasing customer usage.
Nomanini’s goal is to support the integration of the payments ecosystem into the general retail sector by scaling up merchant usage of mobile money in three phases.
“Mini-bulk payments are just the first phase of what we plan to do with mobile money. As part of the second phase, we plan to move into nano-cash/single dollar cash deposits and withdrawals into mobile money wallets, facilitated for the consumer by the merchant. The third phase is for merchants to become comfortable enough with mobile money that they begin accepting mobile money as payment for their own goods,” says Monadjem.
Nomanini’s integration with mobile money was made possible by the recently launched eLula, its second generation product designed for informal markets. The eLula’s touchscreen assists the company in expanding its offerings.
Nomanini, founded in 2010 and headquartered in Cape Town, has Pan-African partnerships enabling thousands of merchants to supplement their income, processing over 800,000 transactions monthly.