New York; August 31, 2021: Panamax USA and Africa’s retail financial services provider, Letshego Holdings Limited (“Letshego Africa”) have partnered to bring the ‘LetsGoPAY Digital Account’ to customers across Letshego’s regional footprint. Panamax and Letshego have created the comprehensive ‘digital account’ to enable customers to send and receive money, save and borrow instantly, all without hassle, anytime, anywhere. With LetsGoPAY, Letshego expects to reach over 3 million customers across its 11 country footprint by 2025.
Excited with the potential of the partnership, Chipiliro Katundu, Chief Product Officer, Letshego Group commented, “LetsGo digital is the future and LetsGoPay is an ideal mobile tool to enable customers to make payments, save and borrow instantly and more simply. Through Letshego’s digital Transformation Strategy driven by enterprise-wide Agility, we can launch new products faster. By digitising our solutions Letshego can make access easier, increase efficiencies and enhance security for our customers. Panamax’s world-class platform is an ideal fit, and resonates with our purpose to improve lives while supporting regional governments to grow the benefits of cashless economies”
The ‘LetsGoPay’ Digital Account will be built over Panamax USA’s robust digital financial platform – MobiFin Elite – that assures data security through its microservice architecture and allows smooth integration with third-party systems to deliver a variety of use cases. The platform will also support centralised configuration and management of digital accounts for Letshego’s targeted markets including Eswatini, Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, Tanzania Uganda as well as enhance Letshego Botswana’s product offering.
Parag Agarwal, Chief Sales Officer, Panamax Inc. added, “The platform capabilities of MobiFin Elite will support and help transform the financial spectrum in markets across Letshego’s regional footprint. We are very excited to commence this project with Letshego Africa and deliver the benefits of digitised transformation together.”
The mobile ‘LetsGoPay’ Digital Account will allow the customers of Letshego to conduct seamless and secured online transactions facilitated by Panamax’s digital payment service available including but not limited to –
- Digital Account (Cash-in, Cash-out, and P2P)
- Airtime Top-up and Bill Payment
- Merchant Payment (Card, Virtual Card, and Vouchers)
- Remittance (Domestic and International)
- Loyalty and Rewards
- Subsidy Distribution and Payments
LetsGoPay is another way Letshego increasing access to simple and appropriate financial solutions via digital platforms (Smartphone App’s, Web, USSD and WhatsApp) so customers can send, receive money, save and borrow instantly and with simplicity, anytime, anywhere. The ‘LetsGoPAY’ Digital Account is expected to launch in the third quarter of 2021 in Namibia and Ghana. All the subsequent phases will be deployed by the end of 2022.
Panamax, Inc., the technology unit of Bankai Group, offers Fintech and Telecom solutions to BFSI and Telecom industries worldwide. With over 550 employees, this New York-based IT solutions and services provider offers industry-leading solutions like Digital Financial Suite, Fraud Management, Revenue Management, Network Switching Solutions, Monitoring Solutions as well as Consulting and Managed Services. Its Fintech solutions encompass unmatched security, flexible configurability, and cloud-enabled multi-tenant system while the state-of-the-art telecom solutions help companies automate their business processes, accelerate time to market, and cater to their switching, routing, transcoding, and other business needs.
This news is originally posted on Biztech Africa