Ghana’s PAL launches proprietary payment processing platform PAL, a Ghanaian fintech company, has developed a proprietary payment platform that allows financial institutions, banks and global brands to instantly transfer money to mobile network wallets in multiple currencies.

Founded in January 2020 by Dady Maël and Kader Saka, PALWithout the need to integrate third party technology components, it creates its own payment infrastructure that allows cash-in or cash-out to mobile wallet. This service can be used as an open API through a web interface. It allows for inbound payment, remittance, loan and other financial service by banks, governments, financial institutions, big brands and global financial institutions to instantly disburse money in multiple currencies. The cost is very affordable to African mobile wallets. “Many African countries do not have the proper payment infrastructure built to connect unbanked individuals owning mobile wallets to the international financial stream. In some countries where the infrastructure is in place, it is challenging to deal with the telecoms and can take literally three-to- seven months before getting the API,” Maël told Disrupt Africa. A few startups across Africa are tackling this issue, MFS Africa and Zeepay among them, but Maël says they take the technical integrations from telecom operators and collapse them into one API for businesses. PAL is currently building the infrastructure. Bootstrapped to date, the company is nonetheless already operating in Ghana and Benin, and planning expansion into four additional countries — Ivory Coast, Mali, Niger and Senegal — very soon. “We have seen a huge interest from companies willing to access the Benin market, and have started working with them. Benin has received more than US$200 million in 2017 from other countries, and has seen significant growth in the last two years and the arrival of COVID-19,” Maël said. PAL charges a small percentage on all transactions made through its platform. PAL has connected over 80 million mobile wallets with its payment system and received a mobile money distribution license. “We have 11 companies onboard from Benin, Ghana, the US, Nigeria and France, and we have done a total of 50,000 transactions,” Maël said.

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