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GIM-UEMOA & PaySky partner to bolster FinTech landscape in West Africa

By Delisha Fernandes

August 09, 2023

  • central banks
  • Financial Inclusion
  • FinTech Africa

PaySkyGIM-UEMOA, an international organisation in charge of the interbank electronic payment system for the West African Economic & Monetary Union (WAEMU) area, has signed an agreement with PaySky, a digital payments ecosystem enabler for developing GIMpay.

The GIMpay infrastructure and the associated new ecosystem constitute the new GIM-UEMOA mutualisation proposal that will redefine the digital financial landscape in the WAEMU, promoting financial inclusion, FinTech innovation and improved customer experience.

This collaboration marks a significant milestone in the industry, as PaySky becomes a technology partner for not one but five platforms within the GIMpay ecosystem. The scale and scope of this partnership are unparalleled, cementing PaySky’s position as a market leader and heralding a new era of FinTech innovations in Africa.

“We are delighted to partner with PaySky as a contributor to the GIMpay ecosystem. GIMpay is a catalyst for the initiatives of banks, electronic money institutions, decentralised financial services, FinTech and national treasuries in mastering the customer experience for a responsible digital finance ecosystem.”, said Minayegnan COULIBALY, CEO of GIM-UEMOA.

The agreement between GIM-UEMOA and PaySky, encompassing five essential services across 8 countries, serving 133 banks, 500 decentralised financial services, 40 electronic money issuers, and 180 FinTech represents an unprecedented milestone in the FinTech landscape in Africa.

Waleed Sadek, Founder & CEO of PaySky, said, “We are thrilled to partner with GIM-UEMOA, as this collaboration marks a transformative step towards driving FinTech and digital innovations in West Africa, based on PaySky’s vast experience in developing payment solutions for leading financial institutions, central banks, telecom operators and FinTech companies worldwide. Our collective mission is to develop their national payment capabilities, empowering hundreds of thousands of merchants and millions of individuals with the latest technology in the payment domain. “

GIM-UEMOA’s collaboration with PaySky marks a significant step forward in the financial technology sector in Africa. As the chosen technology contributor for five services within the GIMpay ecosystem, PaySky showcases its expertise in driving FinTech & digital innovations.

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