This archive report was first published on 7 October 2019.
On October 7, 2019, uKheshe, South Africa's QR cash card and micro transaction platform, was named a finalist in the 2019 Global Fintech Hackcelerator @ Southern Africa competition.
Launched by the South African Reserve Bank (SARB) and powered by fintech/bank matchmaking platform KPMG Matchi, the Global Fintech Hackcelerator is a fintech acceleration programme that creates a platform for firms to demonstrate their innovative solutions to complex financial challenges in the Southern African region.
uKheshe, which was launched in November 2018, enables consumers to make and receive payments by using a QR code card and a smartphone on which the app is installed. No bank account is required, and the uKheshe wallet grows as people pay into it.
Clayton Hayward, co-founder of uKheshe, stated, 'Many necessary and even life-saving financial services and insurance products are simply too prohibitively expensive for low-income earners and their families. uKheshe is ideal for consumers and employers looking for an innovative and affordable alternative.'
As a finalist in the Global Fintech Hackcelerator, uKheshe will showcase its solution at the Southern African Demo Day on October 29, 2019, in Johannesburg.
