M-PESA Safaricom has partnered with LakiPay to strengthen the Ethiopia’s digital payment ecosystem. The partnership, formalized by Elsa Muzzolini, CEO of M-PESA Safaricom Mobile Financial Services, and Habtamu Tadesse, Founder and CEO of LakiPay, is set to deliver seamless, secure, and efficient digital financial solutions to both merchants and consumers across Ethiopia.
Under this agreement, M-PESA Safaricom will integrate its mobile financial services into LakiPay’s payment gateway, enabling businesses onboarded through LakiPay to accept M-PESA payments. This collaboration is expected to simplify digital transactions for Ethiopian merchants and customers, reduce cash dependency, and expand financial access.
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Merchants will now be able to accept M-PESA payments directly through LakiPay’s payment infrastructure, offering consumers a more convenient and reliable payment option. M-PESA, will now provide Ethiopian businesses with faster and more accessible payment methods, ultimately improving business efficiency and customer experience.
According to Safaricom Ethiopia, this partnership marks a pivotal moment in enhancing Ethiopia’s digital financial services landscape. The integration of M-PESA Safaricom with LakiPay aligns with the country’s ongoing efforts to boost financial inclusion and digital innovation.
LakiPay, an emerging force in Ethiopia’s fintech space, has built a reputation for offering versatile digital payment solutions. Its omnichannel payment gateway, hardware-free mobile Point of Sale (mPOS) system, and free ERP software have made it a go-to choice for micro, small, and medium-sized enterprises (MSMEs) looking to digitize their operations. Additionally, LakiPay’s support for online sales and multi-currency transactions, including payments in US dollars, is helping businesses tap into the e-commerce space.
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LakiPay continues to bridge the gap between traditional financial systems and the emerging digital economy, driven by a mission to promote financial inclusion, especially for underserved and unbanked populations in Ethiopia. The company’s services are tailored to meet the needs of businesses that lack access to conventional banking infrastructure, offering them tools to thrive in a rapidly digitizing environment.
Founded by Habtamu Tadesse, LakiPay has risen as a key player in Ethiopia’s fintech industry, following the National Bank of Ethiopia’s 2020 decision to open the financial services sector to technology companies. As a licensed financial technology joint-stock company, LakiPay operates within national banking regulations and aims to transform Ethiopia’s historically cash-based economy.
This collaboration with M-PESA Safaricom builds upon M-PESA’s legacy of advancing financial inclusion, which began in Kenya in 2007 and has since expanded to multiple countries, including Ethiopia.