ImaliPay, Africa’s financial platform for gig economy workers, has chosen Stitch, a pan African API fintech startup, as its South African expansion partner.
The gig economy enabler in Africa is currently operating in Kenya, Nigeria, and South Africa. It aims to ensure financial inclusion for Africa’s gig workers. ImaliPay was launched in South Africa by Stitch within two months of its partnership.
This partnership with Cellulant is very similar to the last-month partnership. It allows Cellulant to use its infrastructure and solutions in Kenya, Nigeria, and other countries.
ImaliPay was launched in 2020. Also known as ImaliPay Technology Corporation, it is described as the “financial partner” for freelancers and blue-collar gig workers. ImaliPay makes use of big data and artificial intelligence to create tailored financial products and services for gig workers.
Stitch allows workers to benefit from ImaliPay by making payments directly from their bank accounts. Items purchased using buy-now-pay later can be repaid with one click. They can also make savings via the same linked account.
People around the world are moving to gig-based work and prefer to work from home. This has allowed Africa and other emerging markets to take up gig work online to improve productivity and quality for their large workforce.
Sub-Saharan Africa has the youngest population in the world, with more than 60% below 25 years old. It also accounts for 13% of the global workforce, which is second only to Asia. Yet, African countries are not participating in digital work as much as other emerging nations.
ImaliPay Group Partnerships Manager Alexandria Akena stated that there are more than four million gig workers in South Africa. She also said that ImaliPay wants to make it easier to help all of them. We will partner with several major gig platforms and Stitch as our payment partner.
Our service allows our customers to make 3-5x more. Stitch makes it easy for customers to pay for bill payments and buy-now-pay later products. Akena said that the market is ready for us to increase financial inclusion for gig workers in South Africa.
An survey of 3000 gig-workers in five markets by Flourish Ventures revealed that the greatest financial concerns for gig workers, made worse by the pandemic was the ability to save and pay off debt.
ImaliPay will offer gig economy workers access to digital financial services. Its savings product, insurance, and buy-now/pay-later marketplace are all available in one place. This allows workers to have affordable access to the tools they need to do their job and make more money.
South African gig workers can now use ImaliPay’s services. Customers can use ImaliPay’s innovative financial products to purchase essential working capital inputs such as fuel, smartphones, and airtime, which will increase their productivity.
How to contact ImaliPay and Stitch
For more information on how to enable seamless, one-click payments from your users, please contact email@example.com or firstname.lastname@example.org