Nigerian fintech platform Payday has announced a partnership with SpaceX Starlink in Rwanda, as it expands its digital banking across Africa.
The partnership marks a significant opportunity for Payday to not only play a vital role in financial inclusion but also contribute to affordable Internet connection as a payment processor for Starlink.
Through this, Payday customers in the East African country will be able to use their virtual cards to pay for the routers and manage their subscription payments. They will also be able to send and receive Rwandan Francs as well as dollars, pounds, and euros using the PayDay app.
Commenting on the partnership with Starlink, Payday CEO Favour Ori said, “We are excited to expand our digital banking services to Rwanda as well as grow our partnership with Starlink. This not only presents an opportunity for us to play a significant role in driving financial inclusion in the country but also to contribute to affordable internet connection regardless of location”.
Also commenting on Payday’s partnership with Starlink, acting Chief Investment Officer at Kigali Financial Centre, Jean-Marie Kananura said, “We are happy to witness Payday’s continuous growth. This is a testimony that Kigali International Financial Center has put in place a trusted framework for Rwandan-based startups to raise capital and scale up globally.
“Acess to the internet is no longer a luxury, but a necessity for personal and economic growth. We believe in the importance of providing a payment solution that empowers individuals and businesses alike to connect to the digital world and unlock new opportunities for growth and development”.
Investors King understands that following complaints by Nigerians over the inability to purchase the Starlink internet service locally with ease, Nigerians are currently using the Payday app to purchase the Starlink integer service, after the Internet satellite company announced a partnership with the fintech company.
Many Nigerian users online have testified using the Payday Virtual Card to order for Starlink. In a tweet, Payday Founder, Favour Ori claims that Payday has helped Starlink process over $300,000.
It is also interesting to note that last month, Payday secured $3 million in Seed funding to drive product expansion. The company has been on a mission to empower individuals and businesses with convenient and secure payment solutions that are tangible.
