EXPERTS KENYA How Kenya’s InstaSend helps you build secure, scalable fintech products faster 3 weeks ago Samuel Post Views: 136 Kenya’s IntaSend is providing payment infrastructure for startups, businesses, and developers to build secure and scalable fintech products faster. Founded by Felix Cheruiyot and Moses Korir in September 2019, IntaSend enables startups and developers to create fintech products and go live in days, at a fraction of the cost. The startup enables developers to create fintech products that can collect, disburse, and hold funds with a few lines of code. “Initially, we worked as consultants and we always had challenges receiving payments from international clients. As we researched we found that many freelancers faced similar challenges when trying to collect payments online. This lead us to create a solution that made it easier to for freelancers to collect payments online,” – Korir told Disrupt Africa. IntaSend has aggregated payment collections through card and mobile money, disbursements to mobile money and banks, and digital wallet services to a single API, eliminating the challenges of lack of interoperability of payment systems. When businesses, startups, and freelancers sign up on IntaSend, they are able to accept mobile money and card payments online, and disburse funds to M-Pesa and banks. IntaSend also provides no code solutions like payment links which enable freelancers to invoice their customers and collect payments. “Initially, we started operations as a payment gateway but as we spoke to our customers and developers, they expressed the challenges they face when developing fintech products. The biggest challenge developers and startups face is the time taken – about six months – to develop secure and scalable fintech applications. It is also expensive to develop these apps, with costs ranging from US$50,000 to US$100,000 with the majority of the budget spent on digital wallet development, payments, security, and compliance.” There has been a significant interest in the startup’s solution. “We are currently serving over 1,000 businesses and freelancers. More than 40,000 digital wallets have been created on the IntaSend platform,” – said Korir. Bootstrapped since inception, InstaSend is currently in the process of fundraising, and has plans to expand across Sub-Saharan Africa. “We charge a transaction fee for the funds we collect on behalf of our customers. We have already surpassed the total payments we processed in the year 2021, and we are on the course this year to more than double the payments we processed in 2021,” – Korir said. Source: disrupt-africa.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: IntaSend, Kenya, mobile money, payment solutions Continue Reading Previous Ripple expands payments offering to Africa amid US regulatory pressureNext Five instances you will need to use MoMo to pay your bills More Stories EXPERTS UGANDA Sports Betting East Africa+ Summit in 2003 22 hours ago Iwo Bulski KENYA ONLINE Africa is the fastest growing continent with a video gaming market 3 days ago Szarlot BETTING KENYA How mobile money supercharged Kenya’s sports betting addiction 3 days ago Samuel EXPERTS WORLD NEWS The History and Benefits of the New Technology 3 days ago Szarlot EXPERTS NIGERIA We support digital assets, not ‘crypto,’ – says SEC 4 days ago Samuel EXPERTS UGANDA Has Uganda successfully dealt with its Ebola endemic? 4 days ago Samuel EXPERTS GHANA Prevalence, predictors and consequences of gambling on children in Ghana 4 days ago Iwo Bulski EXPERTS SOUTH AFRICA South Africa starts regulating cryptocurrency exchanges 7 days ago Samuel EXPERTS GHANA TransferGo expands money transfer service to Africa 7 days ago Samuel EXPERTS KENYA 5G Technology Gives Rise To Sports Betting In Africa 1 week ago Szarlot EXPERTS TUNISIA The prospects of gambling legalisation in Arab countries 1 week ago Szarlot KENYA ONLINE Safaricom launches M-PESA Go a product for kids aged 10 to 17 years 1 week ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.