MobiPay Limited sys the newly launched Malipo Mobile Payment Service will help in bridging economic inequalities by providing opportunities to the unbanked communities in the country.
MobiPay Limited is a local innovation company established by indigenous Malawians to give small and medium-sized merchants a wider range of choice when sending and receiving payment from their customers.
Speaking at the launch of Malipo Mobile Payment Service in Lilongwe on Thursday evening, MobiPay Limited Chief Executive Officer Daud Suleman said apart from simplifying mobile money services, the platform offers a great opportunity to the unbanked communities to actively participate in economic activities.
Suleman said with a simple mobile phone, Malawians from all corners of the country will be able to access digital economic transactions.
“It’s very easy to use this platform, as it is based on what is called USSD system, which is the *465# and is found in any makeover phone from mose wa lero, smart phones and iphones.
“All a merchant has to do is dial *465# and ask for a phone number of a customer and from which bank they want to pay then the merchant enters the amount then the customer receives a message from the bank for them to enter a pin to allow the money to move out of their bank account to the merchant’s bank account using USSD which customers are going to pay zero fee while merchants who are on board will be charged 3 percent which is a minimal transaction value that one can find anywhere,” he said.
Suleman said it is critically important that as the country moves towards an inclusive digital economy, small scale merchants and digital platforms will be critical enablers of ensuring every Malawian can transact in a cashless environment.
ICT Association of Malawi (ICTAM) President Bram Fudzulani described Malipo Mobile Payment Service as a timely bailout for small-scale merchants, as they will be receiving payment from customers in an easy way.
Malipo, a Swahili word for payment is an innovative payment platform that allows small and medium-sized merchants to receive payments from customers through the use of existing technology, primarily mobile phones.
The platform was first registered in 2011 whereby the first application to receive bank was made in 2012 where they were rejected, but officially launched on Thursday evening at Capital Hotel as all the gaps were filled.