RedCloud partners with KongaPay, Nigeria's payment system

LONDON - Sept. 11, 2017 - PRLog -- London, UK: RedCloud Technology, the world's first open banking platform, today announced a partnership with Nigeria's KongaPay; the payment system which aims to facilitate the initiation and completion of transactions in a seamless manner to accelerate distributed banking through a new payment ecosystem that allows unbanked customers to pay online.
Through the Banking as a Platform model, a first for Nigeria, KongaPay will use RedCloud technology to enable the banks to offer innovative digital financial services via its rapidly growing merchant network, with merchants benefiting from increased footfall and resulting bottom-line revenues.

Justin Floyd, CEO at RedCloud comments: "We believe Nigeria will realise its considerable untapped potential from this new kind of technology platform as it enables banks, retailer and agents to work together to deliver financial services at scale. Konga is a company we have admired for some time and who have a proven record in e-commerce – the next big step for financial products, as well as payment innovation. We are delighted to partner with them."

With RedCloud One, a new technology model is born: one platform connecting all stakeholders in the financial ecosystem -whether they are cash users or not- and offering Distributed Banking at scale. With a highly secure technology that allows quick configurability for a fast time-to-market (a revolution in comparison to static core banking software) and extensible features, with an open API architecture (open banking approach, the BaaP model), ensuring a future-proof technology. RedCloud One redefines the customer experience and opens access to new personalised financial products (digital payments, loans, insurance) and new types of products/services through mobile and digital channels (mobile and e-commerce).

Speaking about the partnership Olayemi Jinadu VP, Payment Products and Digital Goods said "KongaPay payment solution's partnership with RedCloud attests to our drive to make Nigerians and Africans at large experience the best of service at their convenience. This means we constantly evolve to be more relevant to customers and society. KongaPay is designed to be fast, reliable, secure, flexible and above all provides a best-in-class financial solution to Nigerians and Africa at large."

About RedCloud
RedCloud is a global technology company changing the way in which financial services can be accessed in the new digital economy. We help banks and corporates to accelerate their digital strategy.
Our innovative technology transforms traditional banking and branch service providers through cloud, distribution and mobile, enabling them to create deeper connections with their customers and unlock new profitability streams, at scale. RedCloud's bank-grade, openarchitecture cloud-based platform allows banks to reach new businesses through their existing systems by enabling customers to set up and access a virtual bank, get loans, or make payments wherever they are via a secure hand-held device. By integrating all actors of the economy onto one platform, RedCloud is shifting financial transactions from cash to digital.
To learn more, visit https://redcloudtechnology.com/
Contact:
Eloy Bernabeu. RedCloud PR & Social Media Manager Email: eloy.bernabeu@redcloudtechnology.com Tel: +44 (0) 203819 0199

About Konga.com
Konga.com is Nigeria's largest online mall. The company launched in July 2012 with a mission, 'To Become the Engine of Commerce and Trade in Africa'. The company has recorded very rapid growth and in just 5 years, konga.com has built an operation that leads the market in customer satisfaction, merchandise shipped and innovation.
Konga began operations as a first party retailer investing in inventory and infrastructure to support the birth of e-commerce in the region. The company has now evolved to become Nigeria's most vibrant online marketplace with close to 60,000 merchants registered and selling on the platform. With over 250,000 products listed on the site, spanning various categories including Phones, Computers, Clothing, Shoes, Home Appliances, Books, healthcare, Baby Products, personal care and much more; Konga is Nigeria's largest online marketplace.
Konga has offices in Lagos, hubs in South Africa and China; with warehouses and distribution centres all over Nigeria.
See more details on konga.com.
Press Contact:
Oluwayemisi Mafe. PR & Communications Manager. Konga Online Shopping Ltd. Email: Oluwayemisi.mafe@konga.com