Malawi-Based Fintech Startup PayChangu Introduces New Payment System For businesses to Enhance transactions
PayChangu, a fintech company based in Malawi, has introduced a new payment system tailored for businesses, enabling seamless scan-to-pay transactions.
This innovative payment solution allows locals to conduct domestic and international transactions using both cards and mobile money.
Joshua Mwendo, the global expansion and payment relationship manager, highlights the potential for e-commerce expansion through API connectivity, enabling businesses to effortlessly sell products and services.
In his words,
“By implementing QR codes for payments, passengers can easily pay for their trips, streamlining the process for both passengers and minibus owners.
“Looking ahead, the future of technology appears bright, especially with the expanding accessibility of the internet and the widespread usage of smartphones. This creates a great chance for technological advances to prosper and leave a lasting impact.”
In addition to business transactions, PayChangu is targeting the public transport sector, offering passengers the convenience of QR code payments for their trips. This initiative aims to streamline the payment process for both passengers and minibus owners.
Technology experts anticipate that PayChangu’s system will complement the significant progress made in the digital payments landscape. Factors such as enabling policies, infrastructure development, and practical use cases contribute to the favorable environment for such innovations.
Vincent Kumwenda, a technology and innovation specialist, underscores the importance of government support and collaboration with fintech firms like PayChangu. Such partnerships facilitate the implementation of innovative solutions by addressing regulatory and financial requirements effectively, particularly in developing countries.
PayChangu is empowering business owners to thrive in the digital economy. From seamless payment integrations to card issuing APIs, the startup empowers users to optimize their financial processes and take their business to the next level.
