In a significant step to enhance ease of payment across Africa, fintech network Paymenex has launched OneCard Africa—a digital payment card designed to streamline cross-border transactions for individuals and businesses alike. Unveiling the card in Abuja, CEO Dr. Kingsley Chibuzor Aguoru highlighted OneCard’s broad acceptance in African countries and its ability to operate in all African currencies, eliminating the hassle of currency conversions within the African Continental Free Trade Area (AfCFTA).
OneCard Africa is available as a debit, prepaid, and credit card, allowing users with or without existing bank accounts to access its features. With a focus on flexibility, OneCard offers multiple payment options, including mobile, QR code, email, SMS, and social media, with strong customer authentication for secure transactions.
The card has already proven effective in Cameroon, where it was piloted for contactless toll payments in collaboration with the Ministry of Finance and Cameroon Postal Services.
Dr. Aguoru emphasized OneCard’s support for African businesses, which can accept payments through various platforms such as mobile apps, websites, and in-store points of sale.
Users also earn reward points with each transaction, encouraging consumer loyalty. Uniquely designed for African currencies, OneCard avoids costly currency conversions typically associated with international digital cards, reducing transaction costs and promoting financial inclusion.
Since its founding in 2007, Paymenex has focused on building affordable, alternative payment networks suited to emerging markets.
With OneCard Africa, Paymenex aims to create a strong financial ecosystem that empowers Africans to navigate seamless cross-border payments without the constraints of traditional networks.