ZirooPay to Tap into Africa’s $500bn Retail Market with Mobile POS Technology

Emma Okonji

As part of its long term strategic growth plan, Nigeria’s retail Point-of-Sale solution provider, ZirooPay, is set to leverage its recent funding round to tap into the growing opportunities in Africa’s retail sector.

Armed with a unique technology that enables small businesses to process card payments in real-time, even when there is no internet/data connection, ZirooPay said it would be strategically positioned to explore the continent’s growing retail opportunities, especially as the Africa Continental Free Trade Agreement (AfCTA), with a combined market of 1.2 billion people and a GDP of $2.5 trillion, takes off.

The Chief Executive Officer of ZirooPay, Omoniyi Olawale, said innovation payment solutions such as ZirooPay would be an imperative, as wholesale and retail sectors continue to dominate Africa’s contribution to its GDP, even as population growth and rapid urbanisation continue to drive consumption across the continent.

“ZirooPay has set out to build an operating system for retail in Africa by providing solutions that not only drive financial inclusion but also support the payment infrastructure needed for retail to thrive on the continent. Lack of reliable payment technology for the continent remains one of the major challenges that has hindered trade tremendously and ZirooPay Mobile POS solution will address this challenge,” Olawale said.

According to him, ZirooPay’s payments solution is fast, simple and reliable, delivering a 95 per cent transaction success rate for POS transactions compared to the industry’s average of 25 – 50 per cent.  The solution leverages its unique and patented internet-free technology, to enable Small and Medium Enterprises (SMEs) across the retail, agency banking, hospitality and services sectors, to process in-person payments, track their sales, and manage their businesses from their mobile devices.

Beyond payments, ZirooPay also provides merchants with automated sales history, sales analytics, and inventory tracking to help them monitor and manage their businesses more efficiently. ZirooPay’s superior transaction success rate and the integrated nature of its service stand it out from the competition.