Diool, a Cameroonian fintech platform, has recently launched a new feature on its digital payment application that allows more than 500 transactions to be carried out simultaneously. The company’s application, which is linked to popular mobile payment methods like Orange Money, MTN Money, and Express Union Mobile, offers a convenient solution for companies looking to make multiple payments at once.

This innovative feature is expected to provide significant added value for businesses that regularly face tedious manual operations. Diool’s President, Serge Boupda, expresses his delight in the launch of the new feature, stating that it will make executing multiple payments at once more efficient and streamlined. This feature was made possible after Diool raised 1.8 billion FCFA in February 2021, which was aimed at expanding their digital payment services in Cameroon and other countries.

Digital payments are increasingly becoming a niche of opportunity in African countries due to the widespread penetration of mobile and the digitization of services. For instance, data from the central bank of six CEMAC countries indicate that the value of payments made via Mobile Money in Cameroon alone reached 2,224.7 billion FCFA between June and September 2017, and this figure has likely doubled by now.

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Founded in 2015 by Serge and Philippe Boupda, Diool has made impressive strides since its inception. Just two years after its commissioning, the fintech firm recruited 2,000 traders, with more than 65 billion FCFA worth of transactions processed. Diool’s ambition for this rapidly growing market is justified by the fees it charges for its services.

Overall, Diool’s launch of a new functionality on its application is a significant step towards revolutionizing digital payments in Cameroon and beyond. As the fintech continues to grow and expand its services, it will undoubtedly play a critical role in facilitating financial transactions across Africa.

Diool platform Diool platform

Charles Rapulu Udoh

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