Boom Launches Blockchain-based Payments Platform For Unbanked Consumers in Africa

Boom, a blockchain-based ecosystem catering to digital payments and e-commerce needs of the unbanked, has introduced Boom Pay. This payment gateway facilitates online merchants in accepting digital payments from KYC-verified consumers throughout Africa.

The introduction of Boom Pay signifies a significant stride towards financial inclusion for marginalized populations, who have been sidelined from global markets due to limited access to conventional banking systems, as stated in a press release issued by the blockchain-based company on Monday, February 19th.

Boom Chief Product Officer Naomi Bourgarel said in the release,

“Boom Pay is more than just a payment solution; it is a step toward achieving socio-economic inclusivity for all. We have made it extremely simple for everyone to adopt it, and now, we call upon the world to join us on our mission.”

Boom Pay enables know-your-customer-verified consumers to make digital payments to online merchants, according to the release.

Boom’s super app, which provides an inclusive eCommerce platform, allows users to buy and sell online without the need for a bank account, the release said. 

By funding their wallets with cash through authorized Boomcoin resellers, users can on-ramp into cryptocurrency, further expanding their economic opportunities.

Boom launched in October 2022 as an e-commerce ecosystem that enables everybody to buy, sell, and pay for everything online without a bank account.

Boom is disrupting the way we transact globally for the better by enabling financial inclusion for all, real-time settlements as well as asset and transaction transparency, powered by its open-source token, the Boomcoin (BMC), and advanced ledger technology