Payday Re-enters Rwanda, Expands Partnership with Starlink to Drive Financial Inclusion and Internet Connectivity

Payday, the leading Pan-African neobank, has announced its re-entry into Rwanda, marking a significant milestone in its Pan-African and global expansion plans. This move comes in the wake of the official launch of SpaceX’s Starlink in the East African country, as Rwanda aims to enhance widespread internet connectivity and broadband reach across urban and remote areas.

As a payment processor for Starlink, Payday customers in Rwanda will be able to use their virtual cards not only to purchase Starlink routers but also to manage their subscription payments. Additionally, customers will have the ability to send and receive Rwandan Francs (RWF) as well as major global currencies, including USD, GBP, and EUR, using the Payday App, similar to customers in Nigeria.

Payday’s CEO, Favour Ori, expressed excitement about expanding digital banking services to Rwanda and growing the partnership with Starlink. Ori emphasized the importance of providing affordable internet connection and financial inclusion, stating that access to the internet is no longer a luxury but a necessity for personal and economic growth. Payday aims to empower individuals and businesses to connect to the digital world and unlock new opportunities for growth and development.

Founded in June 2021 in Kigali, Rwanda, Payday supports African remote workers, freelancers, business owners, and digital professionals with frictionless, borderless payments. The platform enables global payment processing from over 130 countries, allowing Africans to work remotely for international organizations and receive payments in the currency of their choice, regardless of their location.

Jean-Marie Kananura, Acting Chief Investment Officer at Kigali Financial Centre, praised Payday’s continuous growth and highlighted the trusted framework that the center has established for Rwandan-based startups to raise capital and scale up globally. With Rwanda aiming to achieve 90% financial inclusion by 2024, Payday’s innovative banking solutions are expected to play a crucial role in reaching this ambitious goal.

With the re-entry into Rwanda, Payday aims to expand its customer base and establish a strong presence not only in Rwanda but also in the broader East African region. The recent $3 million seed round secured by Payday will support operational licensing in the UK and Canada, laying the foundation for further expansion into several other countries across Europe and Africa, starting with Nigeria and Rwanda.

As Payday continues to drive financial inclusion and affordable internet connectivity, it reinforces its commitment to providing payment solutions that empower individuals and businesses, irrespective of their location, to connect with the digital world and seize new opportunities for growth and development.