CAPE TOWN – uKheshe, South Africa’s cheapest QR cash card and micro transaction platform, hAs been shortlisted as a finalist in the 2019 Global Fintech Hackcelerator competition.
The Global FinTech Hackcelerator 2019 Powered by KPMG Digital Village called on innovative start-ups from around the world to step forward to address the most complex challenges faced by the financial industry today.
This year, the programme identified 70 problem statements across three focus areas namely financial inclusion, banking and finance, and insurance.
The initiative, launched by the SA Reserve Bank (Sarb) and powered by fintech/bank matchmaking platform, KPMG Matchi, is a fintech acceleration programme that creates a platform for firms to demonstrate their innovative solutions to complex financial challenges in the Southern African region.
Launched in November 2018, the uKheshe card enables consumers to make and receive payments by using a QR code card and a smartphone on which the app is installed. No bank account is required and the uKheshe wallet grows as people pay into it.