TOGO: Cinetpay deploys a new online payment gateway

Ivorian fintech CinetPay has recently deployed a new payment gateway to secure operators on its online transaction platform.  

According to the start-up, this payment gateway is equipped with a special protocol called CSP (CinetPay Secure Payment) for securing all payments via Mobile Money, Bank Cards, and Wallets. It helps increase revenue for businesses...

The new interface also supports more than 40 of the most popular payment methods in French-speaking Africa (Orange Money, MTN Mobile Money, Moov Money, Visa, Mastercard, Mpesa, Ecobank Pay, etc.) whereas the previous version only supported 30 payment methods. This gateway also allows companies to accept payments in several currencies.

"This new online payment gateway offers companies opportunities to develop their business in more than 10 countries in French-speaking Africa," said the Co-founder and CEO of CinetPay, Idriss Marcial Monthe. 

In December 2021, the start-up had secured $2.4 million in funding, or about FCFA 1.4 billion, from pan-African venture capital fund 4DX Ventures and unicorn Flutterwave to expand its digital payments services in the Francophone region.

As a reminder, CinetPay acts as an online and point-of-sale payment solution and it allows merchants to process payments from more than 130 different mobile money, bank card, and wallet operators. It is present in several African countries including Togo where it arrived in 2020.