iGaming fintech platform Xprizo has partnered with payments provider M-Pesa to enable its customers to withdraw funds using M-pesa directly into their Xprizo wallet. Due to this new partnership, Xprizo users can now deposit and withdraw funds using M-Pesa directly into their Xprizo wallet.

From there, users are permitted access to a variety of services, from making transactions in international ecommerce environments to utilising wallet-to-wallet functionalities. According to the companies, this collaboration ‘aims to bridge critical gaps in the payment ecosystem, notably facilitating seamless cross-border transactions and providing businesses with an invaluable tool for local operations.’ Businesses can integrate the full Xprizo wallet, enabling users to top up their accounts using M-Pesa or other integrated solutions. In addition, consumers can make transactions from their Xprizo wallet to any Xprizo-registered merchant.

Alternatively, end users have the option to pay directly via M-Pesa on a merchant’s website. Executives from Xprizo said that M-Pesa has fundamentally transformed how people manage money. Where Xprizo steps in is to expand that revolution into cross-border payments and corporate services.

They’re optimistic about the new addition to the Xprizo payment aggregator. Xprizo is an all-in-one finance management solution that allows merchants to manage their payments all in one place. It also supports all major payment processors, facilitating its integration into an existing system.

M-Pesa is a money transfer service, payments, and micro-financing service to be used on mobile phones. M-Pesa was launched in 2007 by Vodafone and Safaricom and stands to be one of the largest mobile network operators in Kenya. More developments surrounding Safarcom’s M-Pesa In August 2023, Uber has formed a partnership with Safaricom to enable Kenya-based riders to pay for trips through the mobile money service M-PESA.

The partnership between Uber and Safaricom aims to benefit unbanked drivers, as around 20% of Uber drivers lack bank accounts. By integrating M-PESA for trip payments, Uber aims to provide convenience and mobile money access to its riders, promoting financial inclusion in Kenya. The press release further highlighted that, according to Safaricom’s results for the financial year 2022, the company processed 6.4 billion payments through M-PESA.

What is more, data from the Central Bank of Kenya showcased the number of total card payments in the country to have been at 70 million for the same timeframe, making M-PESA a preferred method for cashless payments. .