Payment solution company RSwitch, which serves as the national e-payment switch of Rwanda, has announced a new partnership with African fintech giant EFT Corporation to expand access of Rwandans to their money across all technological platforms.
The deal will see RSwitch benefit from EFT’s extensive suite of end-to-end payment solutions, enabling faster transactions between banks, mobile operators and ATMs. The new capabilities will allow Rwandan citizens to access their money seamlessly and accelerate the local economy.
“These are incredibly exciting times for RSwitch and this partnership will enable us rapidly increase our payments capabilities by benefiting from EFT’s powerful technology solutions. Our mission is to extend full financial inclusivity to every citizen in Rwanda, and we will continue to innovate and bring new products and services to enable this to happen,” says Mathieu Rwiyereka, CEO, RSwitch.
RSwitch, which was established in 2003 with a vision to run Rwanda’s electronic payment system has seen rapid growth in recent years and has expanded its remit to serving as a financial interoperable solution company. The company’s online payment gateway facilitates merchants to collect their payments from different channels, namely: Visa cards, MasterCard, Union pay, Amex, Smartcash as well as mobile wallets.
The deal will support the Government of Rwanda’s Vision 2050 to accelerate to an upper-middle-income country by 2035, supported by a robust and inclusive financial sector, including a safe, reliable, and efficient payment system.
“The RSwitch team have a proven track record of designing and delivering world-class payments services to citizens across Rwanda and we are proud to be working alongside such an innovative organisation. Our combined expertise and technology will further accelerate financial solutions to millions of people in Africa and is another landmark moment in EFT’s continued expansion,” adds Grant Flanagan, COO of EFT Corporation.