ImpalaPay Limited started it’s journey back in 2013 when business in mobile was beginning to outpace agent based money transfer business. Mobile money had just began to take off especially in East Africa and significant digital support ecosystems were growing.
The initial plan was to develop Money Transfer Software platforms and POS Switches for Banks and Non-Bank financial institutions and as we progressed we discovered a trend on the platforms we had built. It is here that we found a niche. Trade between African countries was growing and there were significant transactions from neighboring countries that matched those from Africans in European diaspora.
Over the years we have not only been developing and improving the platform but also increasing customer acquisition and raising our brand awareness. By January 2017 our platform had over 24 Million users to have transacted over our switching platform which has facilitated over 800 million transactions. Mobile money interoperability has given us access to over 200 million mobile wallets and 600,000 payout agents.
ImpalaPay has built a unified, secure, trustworthy and transparent financial network on blockchain which is set to disrupt the highly fragmented and regulated financial service industry’s numbers. It is Incorporating Virtual Fiat, mobile wallets, crypto and card payments, merchant mobile point of sale systems and financial applications into the largest online and offline blockchain cryptobank, with OTC exchange platform linked to major crypto exchanges.
The banking platform will be available online on web and also as a mobile application. We are in the final stages of raising funds through an initial coin offering of our utility token (ImpalaCoin) whose value will be determined by our financial network and Venture capital. The funds will be used to acquire the required regulatory licences in order to launch the app to the public. Some of the funds will be reserved for liquidity purposes.
