Barry Levett, CEO of Mypinpad and fintech innovator, joins Anton Gaylard, co-founder of Crossfin, to explore Africa’s burgeoning fintech scene. They discuss how mobile money is transforming financial services for 1.1 billion people in Sub-Saharan Africa. Barry shares insights on the evolution of soft POS technology, while Anton highlights investment strategies focused on empowering founder-led businesses. Together, they reveal the agility of Africa's fintech ecosystem and its potential to reshape global financial landscapes.
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question_answer ANECDOTE
Barry Levett's Fintech Journey
Barry Levett founded SmartPesa inspired by a personal mission to improve financial inclusion.
The name SmartPesa comes from "pesa," the Swahili word for money, reflecting expansion from Africa to Southeast Asia.
insights INSIGHT
Soft POS Innovation Explained
Soft POS turns any standard mobile phone into a point-of-sale terminal.
The main innovation is securing a regular phone to meet stringent payment security standards.
insights INSIGHT
Security Standards in Soft POS
Soft POS adheres to rigorous PCI standards like s-poc, c-poc, and m-poc for mobile payments on standard devices.
Security involves extensive checks against hacking, rooting, and other device vulnerabilities before and during transactions.
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In This Episode
This week's episode of Breaking Banks brings you insights from Cape Town, South Africa, and the Circle of Fintech event hosted by Crossfin. Africa accounts for a remarkable 70% of mobile money accounts globally, and over the past decade, fintech and mobile money have brought 1.1 billion Sub-Saharan Africans into the formal financial services system..
In the episode, Brett King is joined by Dean Sparrow and Anton Gaylard, Co-Founders of Crossfin to talk about next gen financial services infrastructure emerging from South Africa and extending across the planet. They explore the evolution of fintech across the African continent. the rapid adoption of mobile money, fueled by the limited legacy banking infrastructure and the widespread use of mobile technology. They then get into Crossfin's investment strategy with focus on supporting founder-led businesses in Africa, particularly those developing payment-oriented solutions, and showcasing the agility and innovation within the African fintech ecosystem.
But first, Brett sits down with Barry Levett, CEO of Mypinpad, a fintech entrepreneur dedicated to creating secure and scalable infrastructure that transforms mobile devices into trusted platforms for commerce. As the founder of SmartPesa, Barry spearheaded the expansion of its payment and agency banking solutions across 11 countries. After a merger with Mypinpad in 2022, he assumed the role of CEO, bringing a unified strategic vision to the combined entity -- a vision emphasizing digital infrastructure that enhances freedom and efficiency, enabling individuals and businesses to transact more securely and simply on their own terms. A key focus is "Soft POS," a growing trend in finance that leverages the capabilities of ordinary mobile phones to accept payments, essentially turning a phone into a point of sale terminal.
Stay tuned for this insightful episode!
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