According to chief executive officer (CEO) Danson Muchemi, the company, which is present in Kenya, Tanzania, Senegal and the Netherlands, is also eyeing Rwanda, Burundi, Zambia, Ghana, Nigeria and Ivory Coast for its expansion plans.
“At the moment we have Visa and MasterCard only in Uganda, we are setting up to have the whole approach that will also include mobile payment. We have to have a physical approach as well,” said Muchemi.
Muchemi explained that Uganda had been shelved for the time being to deal with more difficult markets like Tanzania.
HumanIPO reported two weeks ago the company had entered into a partnership with Wells Fargo to ensure all the goods paid for using JamboPay were delivered safely to their destinations.
Muchemi said they entered the partnership because JamboPay operates like a three legged stool, with goods, payment solutions and delivery. Since the goods and the payment solutions were already in place they needed a delivery system.
“We realised that for e-commerce to flourish there had to be goods andcontent, delivery channels and payment channels and that is why we went into the partnership with Wells Fargo last week but one. It is a first of its kind in Africa,” he said.
JamboPay’s payment solution works across all mobile wallets, namely M-Pesa, Yu Cash, Airtel Money and Orange Money. It also connects banks and other financial systems, boasting 32 channels including Visa, MasterCard and Kenswitch cards.
The company recently won the 2013-14 Google Innovation Awards in the Financial Services category.