This archive report was first published on 18 September 2019.
Laos-based KiwiPay, a payment solution provider, is expanding its operations to seven African countries, marking a significant step in its global expansion.
According to Gregory Schmidt, CEO & Founder of Kiwi Group, the company has already seen success with its cashless visa payment solution in Vientiane's Wattay International airport, which has been used by Chinese tourists using Alipay's facial recognition feature.
With over 900,000 Chinese citizens visiting Laos in 2018 and a target of more than 1.2 million in 2019, KiwiPay aims to capitalize on this growing market for trade and tourism in Africa.
The company has signed agreements with the Laos Central Bank, Laos Ministry of Finance, and the Lao Development Bank to provide an easy cashless solution for visa processing in Laos borders and cashless payment capabilities.
As part of its expansion, KiwiPay is also working with governments in several other frontier markets in South-East Asia and up to 7 countries in Africa to launch the service there.
With a commission fee business model, KiwiPay is already processing over $200 million worth of transactions yearly, and growing fast monthly.
Earlier this year, Kiwi Group entered a joint-venture with Meal Temple Group, a leading startup in the food delivery space in frontier Asian markets, allowing hundreds of restaurants to use the KiwiPay solutions, including PoS devices for cashless payments.
