Ukheshe is rebranding as EFT Corporation following Ukheshe’s acquisition of EFT Corporation in January 2024. The transition from Ukheshe to EFTCorp marks the next stage in bolstering the combined entity’s knowledge and resources, improving the company’s ability to offer innovative payment solutions to a wider market. Following the acquisition, the business has strengthened its technological capabilities. The overall aim is to solidify its position as a formidable player in the fintech sector.
Ukheshe mission: bringing electronic payments to the unbanked
At launch, Ukheshe’s mission has been to bring electronic payments to people without bank accounts. Since its inception, Ukheshe has onboarded numerous fintechs and major brands. It introduced Africa’s first virtual card for WhatsApp transactions, enabling Telkom Pay’s digital payments wallet alongside development of its merchant solution, Telkom mPOS, a mobile POS solution for small businesses.
Go deeper with GlobalData
In 2020, Ukheshe strategically acquired Oltio, the developer behind Masterpass, to democratise digital payments for micro-merchants, evolving the brand to Scan to Pay in 2023. Extending into Africa, Ukheshe provides an innovative BaaS platform in East Africa, through its partnership Diamond Trust Bank. And it empowers users to send money across Africa through MTN’s cross-border money transfer solution.
Proprietary Eclipse API platform
In addition, Ukheshe hails its proprietary Eclipse API platform as a game-changer in the fintech space. Specifically, it enables the development and growth of financial service offerings across Africa and the Middle East. It is, says Ukheshe, a model for how Banking-as-a-Service (BaaS) can serve as a mechanism to close the financial inclusion gap. Moreover, it offers businesses innovative ways to seamlessly integrate financial services.
EFT Corp tagline: ‘Together we are stronger. Together we are Banking Beyond Tomorrow’
Ukheshe describes the transition from its orange branding to EFT Corporation’s established blue as symbolic of trust, stability, and forward-thinking innovation. This colour shift reflects the company’s dedication to creating a secure and reliable financial ecosystem. The merged entity will continue to operate under the name EFT Corporation Limited.
The new brand identity deploys the tagline ‘Together we are stronger. Together we are Banking Beyond Tomorrow’, highlights its mission of playing a leading role in the future of digital payments.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFacilitating a seamless and interconnected digital payment landscape
Clayton Hayward, Group CEO of the merged companies, said: “We are incredibly proud of all Ukheshe has achieved. This rebrand marks the beginning of a new era of growth and possibilities for us as EFT Corporation. We look forward to facilitating a seamless and interconnected digital payment landscape that empowers banks and individuals to thrive in the digital economy. A completely digital, always-on, always-instant money transfer and payments ecosystem is inevitable. Regulators and banks have a huge amount to lose if this continues to be pushed onto crypto and mobile money rails outside of traditional financial services providers. To compete and keep the higher ground, banks need to innovate faster and partner more. EFT Corporation is the partner with the digital know-how and the track record to deliver.”
Stephen Enderby, Founder and CEO of EFT Corporation, added: “Under one identity, we can deliver even greater value to our clients and push the boundaries of what’s possible in the industry. EFT Corporation’s products and expertise help to make banking innovation simpler. We are excited to continue empowering our customers to create exceptional user experiences and provide innovative, reliable, and comprehensive payment solutions that integrate, automate, and optimise financial systems and operations across all sectors of the economy.”
