GIM-UEMOA and PaySky partner to bolster fintech in West Africa
GIM-UEMOA signed an agreement with PaySky, the leading digital payments ecosystem enabler for the development of GIMpay.
GIM-UEMOA is the international organization in charge of the interbank electronic payment system for the West African Economic & Monetary Union (WAEMU) area,
The GIMpay infrastructure and the associated new ecosystem constitute the new GIM-UEMOA mutualization proposal that will redefine the digital financial landscape in the WAEMU, promoting financial inclusion, fintech innovation and improved customer experience.
This collaboration marks a significant milestone in the industry, as PaySky becomes a technology partner for not one, but five platforms within the GIMpay ecosystem. The scale and scope of this partnership are unparalleled, cementing PaySky's position as a market leader and heralding a new era of fintech innovations in Africa.
“We are delighted to partner with PaySky as a contributor to the GIMpay ecosystem. GIMpay is a catalyst for the initiatives of banks, electronic money institutions, decentralized financial services, fintech and national treasuries in mastering the customer experience for a responsible digital finance ecosystem.", said Minayegnan Coulibaly, CEO GIM-UEMOA.
GIM-UEMOA, renowned for its forward-thinking digital initiatives, aims to create a comprehensive ecosystem that encompasses a Regional Omni-channel Payment gateway, a Government Service Collection Platform, A VAT Collecion Platform, and a Super App Enablement Platform. PaySky has been handpicked as the partner of the following services within this transformative ecosystem.
Moreover, PaySky is currently engaged in discussions to offer ATM Value Added Services (VAS) within the GIMpay ecosystem. This additional service has the potential to further enhance the financial infrastructure by providing a range of value-added offerings through ATMs, catering to the evolving needs of consumers.
The agreement between GIM-UEMOA and PaySky, encompassing five essential services across 8 countries, serving 133 banks, 500 decentralized financial services, 40 electronic money issuer, and 180 fintech represents an unprecedented milestone in the fintech landscape in Africa. This alliance not only solidifies PaySky's position as a trusted leader but also sets the stage for future advancements and innovations in the financial technology sector.
GIM-UEMOA’s collaboration with PaySky marks a significant step forward in the financial technology sector in Africa. As the chosen technology contributor for five services within the GIMpay ecosystem, PaySky showcases its expertise in driving fintech & digital innovations. With its commitment to seamless and secure financial services, PaySky sets the standard for professionalism and market leadership. This collaboration is poised to reshape the financial landscape, providing businesses and governments with the tools they need to thrive in the digital age.
"We are thrilled to partner with GIM-UEMOA, as this collaboration marks a transformative step towards driving fintech and digital innovations in West Africa, based on PaySky’s vast experience in developing payment solutions for leading financial institutions, central banks, telecom operators and FinTech companies worldwide.’’ Dr. Waleed Sadek, Founder & CEO of PaySky said.
‘’As the chosen technology contributor for 5 crucial services within the GIMpay ecosystem, we are honored to serve 8 nations, being Senegal, Cote d'Ivoire, Benin, Guinea-Bissau, Mali, Burkina Faso, Niger, and Togo. Our collective mission is to develop their national payment capabilities, empowering hundreds of thousands of merchants and millions of individuals with the latest technology in the payment domain. This collaboration will play a pivotal role in supporting these countries' journey towards financial inclusion and digital transformation as means to economic prosperity & social welfare."
