These latest stories from the tech space will keep you updated with trends today.
1. Egyptian startup CreditGO launches payments solution offering
Serving the Egyptian marketplace, CreditGO, a one year old Fintech player, has launched a B2B payment aggregator and merchant wallet for small businesses.
The new launched product will enable unbanked merchants to sell electronic services such as airtime and allow customers to pay bills.
According to reviews, the startup allows merchants to overcome the challenges posed by high acquisition costs of PoS machines and offer electronic services to customers via a free mobile app.
Explaining the business model of company, analysts revealed that the app allows merchants to earn commissions on selling airtime and facilitating customers’ bill payments.
Following the launch, the CreditGo looks to enable the purchase of products and goods from wholesalers and pay for them through the CreditGO wallet, in the coming weeks.
Speaking to press, CEO Omar El Welely, described the move to launch its product as point to take advantage of the gap created within the market.
He said: “We took a huge advantage of the market segment which is left behind from the banking system and financial institutions.
“The unbanked sector in Egypt and the informal economy makes up 45 per cent of Egypt’s economy. We are talking about an annual market of US$73 billion,” he hinted.
Pick the odd app in the pack
Answer: See end of post.
2. German security startup secures funds to expand portfolio
German security startup, SEON, has announced securing R55-million in funding from numerous private investors as it looks to expand its portfolio.
According to press, the funds will be invested in providing high tech security solutions to emergency responders.
SEON disclosed that the fund was raised towards advancing software development and to facilitate the expansion of its presence in the South African market.
Explaining terms, Plotz, co-founder and managing director at SEON stated that the startup’s services will provide a much-needed service to South Africans.
“South Africa is undoubtedly one of the most beautiful places in the world, but also one of the most dangerous,” says Plotz.
The CEO, in his speech, further described South Africa as the best market to invest in.
He added: “We have chosen the country as the best place in the world to invest in, due to its thriving tech ecosystem and its high levels of awareness around personal security. We believe the nature of our platform – which improves emergency response coordination – can help enhance security and health responses for all citizens.”
Tech Trivia Answer: Skype
Among the short video apps, Skype is odd. As a leading telecommunication app, Skype is a telecommunications application that specializes in providing video chat and voice calls between computers, tablets, mobile devices, the Xbox One console, and smartwatches over the Internet. Skype also provides instant messaging services. Users may transmit text, video, audio and images.
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