Ukheshe Becomes EFT Corporation, Aims to Lead African Fintech Inclusion

In a bold move to redefine the future of financial technology, Ukheshe has rebranded to EFT Corporation. This strategic shift unites Ukheshe’s innovative digital solutions with EFT Corporation’s extensive expertise, positioning the new entity as a leading catalyst for financial inclusion in Africa.

The rebranding follows Ukheshe’s acquisition of EFT Corporation in January 2024, marking a significant milestone in their shared vision to transform financial services across the continent. This transition enhances the company’s ability to offer innovative payment solutions to a broader market, solidifying its status in the fintech industry.

Clayton Hayward, Group CEO, EFT Corporation

EFTCorp retains Ukheshe’s legacy of innovation, which began with bringing electronic payments to the unbanked. Ukheshe has introduced Africa’s first virtual card for WhatsApp transactions and developed Telkom Pay’s digital payments wallet and Telkom mPOS for small businesses. In 2020, Ukheshe acquired Oltio, the developer behind Masterpass, evolving it into Scan to Pay in 2023. Through partnerships like the one with Diamond Trust Bank in East Africa, Ukheshe offers a pioneering Banking-as-a-Service [BaaS] platform, enabling cross-border money transfers via MTN.

Ukheshe’s Eclipse API platform has revolutionized the fintech space, demonstrating how BaaS can bridge the financial inclusion gap by integrating financial services seamlessly. The rebranding to EFT Corporation, symbolized by the shift from bold orange to established blue, reflects trust, stability, and forward-thinking innovation.

“We look forward to facilitating a seamless and interconnected digital payment landscape that empowers banks and individuals to thrive in the digital economy.” says Clayton Hayward, Group CEO, EFT Corporation.

Stephen Enderby, Founder and CEO highlighted the unified identity’s potential to push industry boundaries and deliver greater value. “EFT Corporation’s products and expertise help to make banking innovation simpler.” stated Enderby.

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