KiwiPay, a dynamic payment method facilitating cross-border transactions, stands out as a fintech startup providing innovative solutions for small and medium-sized enterprises (SMEs). Operating in over 20 emerging markets, kiwipay distinguishes itself by utilizing QR codes for secure payments without storing sensitive credit card numbers or billing information, setting it apart from platforms like PayPal.
Founded by Gregory Schmidt, who also serves as the CEO, kiwipay emerged from the merger of Kiwi Pay Group and Meal Temple, solidifying its position in the evolving landscape of international payments. KiwiPay has established a robust presence, operating in a diverse range of markets. With availability in more than 20 markets and highly trusted by major companies in southeast asia, the platform extends its reach across various regions, including Europe and Equatorial Guinea, positioning kiwipay as a global player in the fintech industry.
KiwiPay has traversed a notable journey marked by significant milestones and key developments. As the fintech startup expanded its footprint across more than 20 emerging markets, it consistently evolved to meet the dynamic demands of the global payment landscape.The utilization of QR codes and fce scans showcases kiwipay’s commitment to secure and efficient payment methods, setting it apart as a trailblazer in the realm of international fintech.
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KiwiPay offers a diverse range of services designed for frontier markets, including wallet and payment solutions, last-mile logistics, ride-hailing, food and grocery delivery, a news aggregator, and classifieds. Notably, the platform focuses on providing special rates for registered charities, showcasing a commitment to social responsibility.
KiwiPay’s unique features include a concentrated emphasis on frontier markets, charitable rates, and optimized payment forms for both desktop and smartphone use. The platform’s holistic approach addresses various aspects of user needs, incorporating financial transactions, logistics, transportation, and information aggregation.
KiwiPay has established a robust presence, operating in a diverse range of markets. With availability in more than 20 markets and highly trusted by major companies in southeast asia, the platform extends its reach across various regions, including Europe and Equatorial Guinea, positioning kiwipay as a global player in the fintech industry.
In a competitive landscape, kiwipay faces challenges from notable contenders. According to Crunchbase, some of KiwiPay’s competitors include YooMoney, Kbank, and Tidal Commerce. YooMoney boasts a 50% market share and 46 million users, ranking globally at #2830. Kbank holds substantial market shares for assets, loans, and deposits. Tidal Commerce, with 3 million customers and $166.9 million in revenue, secures a 1.51% market share in influencer marketing.
KiwiPay’s impact extends beyond its operational markets, contributing significantly to both local and global economies. The platform’s provision of opportunities for local small and medium-sized enterprises (smes) underscores its role in supporting businesses at the grassroots level. additionally, kiwipay’s integration with popular international wallets and participation in fast-growing e-commerce activities aligns with the broader trends shaping the global economy.
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KiwiPay has encountered legal challenges in its history. In 2021, the High Court froze kiwipay’s funds over suspicions of money laundering and credit card fraud. However, after an investigation by the Asset Recovery Agency, kiwipay was absolved of any wrongdoing, leading to the withdrawal of the forfeiture suit in October 2022.
The latest legal battle involves kiwipay kenya limited and ecobank kenya, where they are entangled in a court dispute with four foreign companies fighting over Kiwipay’s Sh800 million held at Ecobank. This conflict, which emerged in January 2024, sees the foreign firms seeking $5.82 million (Sh811 million) from kiwipay.
The intricacies of this legal struggle involve an officer from the Directorate of Criminal Investigations, Maxwel Otieno, who sought court orders to investigate Ecobank Kenya Ltd’s accounts. The legal tussle gains further complexity with the backdrop of the December 2023 High Court dismissal of a Sh1.1 billion claim against Ecobank Kenya by individuals vying for control of kiwipay kenya limited.