Draft:Startups in Ethiopia
Startups in Ethiopia[edit]
Currently there are up to 10 start up companies in Ethiopia that are focused on fin-tech. This are[1] :
Chapa,[edit]
- Chapa a fintech startup Financial Technologies that was Established in 2020[2]. Chapa was founded in 2020 by entrepreneurs Israel Goytom and Nael Hailemeriam. The National Bank of Ethiopia officially licensed the homegrown fintech company in May 2022[3]. The company's primary mission focuses on building payment APIs and payment tools for ambitious Ethiopian businesses.
ArifPay,[edit]
- Arifpay is a financial technology company based in Addis Ababa, Ethiopia. Established in 2017[4], the company has been pivotal in the digital payments landscape in Ethiopia, offering innovative solutions tailored to the needs of individuals and businesses.
- The company is licensed by the National Bank of Ethiopia[5] and holds two key licenses: a Point-of-Sale (POS) license and a Gateway license. These licenses enable Arifpay to offer a wide range of payment services, including POS terminals and online payment gateway solutions[6].
Corporate Timeline[edit]
2017: Venture Inception[4]
2018: Angel investors invest in the venture
2019: Minimum Viable Product (MVP) development and market fit
2020: Continuous improvement and lobbying with government bodies and regulators
2021: Establishment as a share company and acquisition of licenses from the National Bank of Ethiopia
2022: Commercialization letter obtained from the National Bank of Ethiopia
Corporate Values
Arifpay is guided by the following core values:
Interoperability: Commitment to interoperability across the payment ecosystem.
Innovation: Dedication to innovation and continuous improvement.
Integrity: Operation with integrity and compliance with relevant laws and regulations.
Products and Services[edit]
Arifpay offers a diverse range of products and services aimed at enhancing the efficiency, security, and convenience of digital transactions. These include:
ArifPOS Smart Terminal: A portable POS terminal designed to facilitate seamless transactions, both indoors and outdoors. The terminal offers complete connectivity and is equipped with advanced features such as delivery services, loyalty programs, and inventory management.
Payment Gateway Services: Arifpay's Payments Platform as a Service (PPaaS) empowers businesses to manage payments, commerce, and data services through an open API-based platform[7]. PPaaS offers a wide range of services, including loyalty programs, digital receipts, fraud management, and dynamic currency conversion.[8]
Arifpay Mobile Terminals: Designed for countertop use, Arifpay's mobile terminals support various payment methods and offer engaging customer interactions. Terminals such as Arif Simuni POS and Arif Dech POS are optimized for network uptime and self-checkout capabilities.[9]
Reference[edit]
- ^ "Top 10 startups in FinTech in Ethiopia - Tracxn". tracxn.com. 2024-06-03. Retrieved 2024-06-03.
- ^ Girma, Kaleab (2022-08-17). "Chapa Officially Launches Payment Gateway Service". Shega. Retrieved 2024-06-10.
- ^ Group, Imperium. "Chapa Launches the First Payment Gateway in Ethiopia". Newsfile. Retrieved 2024-06-10.
- ^ a b "Arifpay; The Ethiopia's New Digital Payment Gateway in 2023". banksethiopia.com. 2022-12-28. Retrieved 2024-06-10.
- ^ Tegegn, Elias (2021-12-25). "Central Bank Grants ArifPay First Fintech License". www.thereporterethiopia.com. Retrieved 2024-06-10.
- ^ "ArifPay Gets License from Ethiopia's National Bank for e-Payment System". www.2merkato.com. Retrieved 2024-06-10.
- ^ Reporter, Staff (2023-04-10). "Arifpay integrates with EthSwitch to propel country's payment industry". Capital Newspaper. Retrieved 2024-06-27.
- ^ Shega, Team (2024-01-11). "Arifpay Launches Payment Gateway". Shega. Retrieved 2024-06-27.
- ^ innovation-village.com https://innovation-village.com/ethiopian-fintech-startup-arifpay-secures-3-5m-funding/#google_vignette. Retrieved 2024-06-27.
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