- MamboPay enables transfer of funds from one party to another using purpose-bound digital coupons. Coupons are tagged to a specific purpose, which can only be redeemed for that purpose at participating services providers (merchants/agents).
- Current money transfer services have a focus on securely delivering money from one party to another, but give very little or no regard to ensuring that such monies serve their intended purpose. Therefore, Accountability and Transparency, remain key pain points for digital money users, and thus present opportunities for innovations like Mambopay.
Opportunities / Problem SpaceMamboPay is addressing 3 key challenges in day to day use of digital financial transactions:
- Personal Finance management
Go-To Market Partners
- MTN Uganda – We are partnering with MTN Uganda, the biggest mobile network operator with a subscriber base of 9 million on mobile money. MamboPay is available directly on the MTN USSD menu and with local language translation. This means, MamboPay service can be accessed by any type of phone including feature phones.
- Microsoft 4AFrika – Microsoft Cloud platform, Azure, provides us a Scalable, Reliable, and Secure platform, which is also highly Available; necessary attributes of any financial system.
MamboPay Prepaid and Postpaid Services?
- MamboPay offers prepaid and postpaid services depending on the needs of the client.
- Prepaid Service: MamboPay’s prepaid service allows clients to buy coupons off mobile money before sending them out to the beneficiaries. In this case, when the coupon is redeemed, the merchant (Service Provider) account is credited with Mobile Money.
- Postpaid Service: MamboPay’s postpaid service allows clients to send coupons to the beneficiaries without using mobile money. In this case, the coupons do not carry any monetary value but instead are being used for identification and accountability purposes only. When the coupons are redeemed, the merchant (service provider) account is not credited with Mobile Money. In this scenario, the coupon sender is expected to pay the service provider outside MamboPay’s ecosystem.
The rest of the story is about our values, our people, our passion, and our way of running a business.