Maviance, a multiservice platform that facilitates payment operations such as bill payments, sale of communication credit, and mobile money transactions in the CEMAC region, reports 13.8 million transactions with a total value of 295 billion XAF between January and November 2023. According to the information released by the company, these figures reflect a 320% increase in transactional flows.
“This growth is mainly attributed to two factors: the launch of its digital mass payment solution in the market and the adoption of SmartCash by the Société Anonyme des Boissons du Cameroun (SABC) for the digitization of its collections. Maviance’s mass payment solution, used by both small and large organizations, is a digital platform that enables companies to dematerialize their payment processes (salaries, bonuses, missions, up to +5000 people) in a single operation and instantly access transaction reports,” it reads.
SmartCash, it is learned, is a digital solution proven by entities like ENEO since 2017. It allows companies to instantly collect payments through various payment channels by connecting “our network of agents, payment providers (Mobile Money), microfinance institutions, banks, and GIMAC directly to the company’s information system.”
Thanks to its extensive partner network comprising more than 150 financial institutions, Maviance provides them with the convenience of collecting payments even in rural or underserved areas not served by banks.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.