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Top 5 Fintech Products in Rwanda that wins customers
Tech Startups | Dev Tools | SEO  Jan 30, 2023
Top 5 Fintech Products in Rwanda that wins customers

The tech industry in Rwanda has been growing rapidly in recent years, driven by government initiatives to promote innovation and entrepreneurship, as well as investments in infrastructure and education.

The government has established several technology parks and incubators to support the development of tech startups and has also implemented policies to improve access to technology and internet connectivity throughout the country.

Additionally, there has been a significant increase in the number of tech-based companies and startups operating in Rwanda, particularly in the areas of mobile and internet services, software development, and e-commerce.

As a result, the tech industry has become an important driver of economic growth and job creation.

In Rwanda,  the face of  Fintech which include regulators, investors, financial institutions, foreign associations, partners, and other industry stakeholders operates under the umbrella of Rwanda FinTech.

In this article, I compiled a list of 5 Fintech Products that win customers in Rwanda.

5.PayDay

Payday is a  fintech product offering that includes money remittance and Africa inter-state money transfer service, coupled with a payments solution for employers.

This product is considered to be the Global Neobank for remote workers and Digital Professionals.

This platform was created to provide swift payments for Africans across the globe.  The company says it wants to be the one-stop shop for anyone looking to move money freely within and beyond Africa.

4.PesaChoice Loans

PesaChoice loan is an online platform for payday loans. It offers salary-linked payday loans to users by partnering with employers.

The loan amount is determined based on the user's salary. Users must add the required details and apply for the loan. Once approved, the funds are transferred to the registered bank account.

Since its inception, PesaChoice has accumulated more than 2 Million USD in Funds.

3.Save

Save is a digital wallet solution for savings groups in Rwanda. It was developed by Exuus, a subsidiary of DreamStart Labs.

The main goal of this product is to teach its users how to build saving practices together.  Choose savings partners wisely, set goals together, hold each other accountable, and evolve together financially.

Apart from creating Saving groups with Save, you can request a loan anytime, Send money to friends and family, pay bills quickly and easily also create virtual credit cards.

2. Tap and Go

Tap and Go is a tech product enhancing Smart Transportation in Rwanda where people pay fares on public transportation using Tap&Go cards or Tap&Go App.

Tap and Go has allowed bus companies to recover 30%-40% of their revenues that were previously lost, it has facilitated more than 298 Million Journeys and covered 100% of Rwanda’s capital, Kigali.

1. MoMo

MoMo is a product by MTN Rwanda that allows users to transfer money, pay bills, and access other financial services through USSD and Applications on their mobile phones.

It operates in Rwanda as a digital wallet, which can be loaded with funds, and used to make transactions without the need for cash or traditional banking services.


Disclaimer: This list is not presented in a hierarchical order and is not intended to prioritize or rank the companies in any specific manner.

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