Viyona Fintech eyes Zimbabwe for Tap & Pay
By Abha Lohia ·
- Viyona Fintech is a Hyderabad payments technology provider certified by the national payments body as a technology service provider
- It plans to bring its Tap & Pay phone-based card acceptance product to Zimbabwe, its first step into sub-Saharan Africa
- The firm is in talks with Zimbabwe's government and says high digital payment volumes make it a good test market
What happened
- Viyona plans a Zimbabwe rollout of Tap & Pay.
- It is in talks with the government.
- Zimbabwe is the first African entry point.
- Tap & Pay turns Android phones into payment terminals.
- No hardware is needed for small businesses.
Why it matters
- Africa gives a larger payments market.
- Phone-based terminals cut setup cost.
- Zimbabwe's digital volume suits a pilot.
The business
- Viyona is Hyderabad-based.
- It is an NPCI-certified service provider.
- It sells payment tech to banks and billers.
The founders
What happens next
- Roll out Tap & Pay in Zimbabwe, then wider Africa.
Words to know
- SoftPOS
- Software that lets a phone accept contactless card payments.
Terms in this story
- Fintech business model: Fintech startups make money in a handful of ways: charging a fee on each payment, earning interest on loans, taking a commission for selling financial products, or selling software to banks and businesses. Most successful companies combine two or three of these.
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