Arifpay has joined forces with Yango Ethiopia to thoroughly combine ride-hailing and payments, establishing a new benchmark for smooth financial services and mobility.
Drivers’ expectations from Arifpay
The drivers will enjoy the following benefits from Arifpay as result of this partnership:
Real-time settlement: profits are paid immediately, without any delays, following trips.
Driver loan initiative: The driver loan program offers drivers responsible financing choices.
One view, one balance: all funds are gathered in one location for convenient tracking and reconciliation.
This partnership provides a more seamless payment experience for riders while expediting payouts, simplifying planning, and facilitating growth for the driver community.
NBE’s recognition of Arifpay
Last month, Arifpay announced that the National Bank of Ethiopia (NBE) formally recognized it as Ethiopia’s first licensed private switch operator.
This accomplishment demonstrates the company’s dedication to promoting financial inclusion and innovation in support of the Ethiopian National Digital Payments Strategy 2030, which is currently in progress.
Arifpay noted that they have been working nonstop behind the scenes for six months to achieve this feat.
“For the past six months, we have been working tirelessly behind the scenes to prepare Arifpay for the next phase of its journey, becoming Ethiopia’s first private switch operator”, it stated.
Arifpay’s services
As Ethiopia’s first private switch provider, Arifpay will facilitate real-time transactions between wallets, insurance companies, banks, MFIs, SACCOs, and other PSOs. The company will streamline business processes by facilitating large-scale disbursements, payroll, and supplier payments.
Additionally, it will offer platforms for credit scoring so that consumers and businesses can increase their access to financing. Combining mobile banking services into super apps will make the user experience easier.
It will facilitate and expedite cross-border money transfers, support remittance services, and provide financial institutions and retailers with packaged services, including flagship solutions like point-of-sale (POS), payment gateways, and interoperable QR codes.