Paymentology partners with Salaam Bank’s mobile app, Waafi

By Gloria Methri

Paymentology has teamed up with Salaam Bank’s Waafi to launch a co-branded tokenised tap-to-pay digital companion card and physical card for Waafi mobile app users in the Horn of Africa.

Waafi is a mobile money app born from the collaboration between Salaam Bank and Golis, a telecom provider in Somalia. The app offers communications, entertainment, and payment functionalities intending to promote a digital lifestyle and a cashless society. Waafi has now turned into a full-fledged digital bank with its card offering to leverage Paymentology’s issuing processing platform.

This collaboration introduces digital and contactless payments through Waafi by Salaam Bank’s digital-first initiative. The co-brand partnership offers users the opportunity to open an account digitally, create a digital Mastercard, link the card to a wallet or account, tokenize the card on a digital device, and make contactless payments at ease.

Somalia continues to move towards a cashless society, with more than two-thirds of all payments made via mobile money platforms. The digital-first launch signifies a pivotal step towards embracing modern financial technology in the region.

This partnership leverages Paymentology’s next-generation payments technology to ensure that users can experience the convenience and security of digital banking and contactless payments. They can do more with their mobile money and get access to in-store payment, travel and international payment capabilities.

Kirsten Wortmann, Paymentology’s Regional Director for Africa, said, “Mobile and digital wallets play a crucial role in the financial ecosystem in Somalia. Powering Waafi’s digital money app exemplifies our commitment to advancing financial technology in fast-developing markets. We are excited to bring the first digital card to the Horn of Africa, paving the way for a future where digital and contactless payments are the norm.”

Abdiqani Hariir Ismail, Deputy General Manager at Dara-salaam Bank, added, “The digital-first initiative is a testament to Salaam Bank’s dedication to innovation and customer-centric solutions in the East Africa region. Through our collaboration with Paymentology and MeaWallet, we are providing our Waafi customers with a next-generation, secure, and convenient payment solution that meets their evolving needs.”