ExiPay is a payment innovation company. Izwe, a provider of loans and financial services, partnered with ExiPay. This partnership resulted in an all-in-one POS solution. They call it Izwe Pay. It facilitates payments across mobile money and card payments in Zambia.

This brings additional value-added services to consumers and merchants, and offers opportunities for use in other countries as well.
Willie van Zyl is the CEO of Izwe Group. He said that the demand for versatile payment solutions has grown in Zambia. This is in line with more businesses and individuals moving to embrace digital payment methods. Particularly, mobile money solutions are gaining popularity.
According to ZICTA (Zambia Information and Communications Technology), access to digital financial services increased. It rose from 48.9% in 2018. By 2022, it reached 73.1%. This is to understand how the innovative POS solution changes people’s lives and merchant’s bottom lines.
In addition to this, in 2022, the country had 4.89 million telephone banking account holders. The majority of the 39,301 POS devices in the market did not process mobile payments. This is according to Bank of Zambia statistics. From 9.8 million in 2021 to 11.2 million subscribers in 2022, it represented a growth rate of 13.98%. This is for the adoption of mobile money in Zambia growing with active subscriptions.
Zamtel, MTN, and Airtel are the country’s top three mobile money providers. They dominate the market, and banks mainly focus on handling card payments. It has only a few of them offering financial services on POS devices.
The traditional payment processes have lacked innovation. They haven’t provided the business tools businesses need to support their growth. This is especially true for SMEs.
Van Zyl also said that they wanted to bring together everything that makes a difference in their customers’ lives. They aim to do this in a way that a bank can’t. Being on the ground, close to customers. They understand the need to offer a solution that really works. This is instead of taking a cookie-cutter approach.