WeCashUp is a digital financial services supermarket distributed to the general public through a network of small informal businesses and Mobile Money distributor agents in Africa. It is a mobile application which brings together all the Mobile Money operators available in each African country and which offers distributors a single and secure management interface. WeCashUp is developed by INFINITY SPACE.
Mobile Money allows users to receive, store and spend money simply by using their mobile phone.
In Africa, this service is mainly provided by telephone operators. It relies on a dense network of informal distributors that allow users to top up their accounts by bringing in or withdrawing cash. It is a model similar to the service offered by the company Nickel in France, which transforms tobacconists into local bankers.
This alternative to traditional banks is currently exploding in Africa with a volume of activity that peaks at more than 1,000 billion dollars in 2021 and more than 621 million users against 400 million banked customers (GSMA 2021 report). While the traditional banking network totals nearly 100,000 branches in Sub-Saharan Africa (Bankinfobook report), the distribution network of telecom operators has more than 4.4 million Mobile Money distributor agents, making it a huge sales force and a powerful local tool.
However, we have identified 7 major issues that are holding back the development of distributors and operators:
Based on this observation, INFINITY SPACE has developed WeCashUp, a digital supermarket of digital financial services distributed to the general public through a vast network of small informal businesses and Mobile Money distributor agents in Africa.
The vision of INFINITY SPACE is today implemented by a multicultural team of talents with complementary skills and visionary investors who come from the 5 continents to transform the daily lives of African populations.