Afrigather Kippa, the Nigerian fintech backed by traders like Saison Capital and Horizone, has transferred the operations of KippaPay, an company banking product it shut down in October, to Bloc, a Nigerian fintech making ready to launch banking companies. KippaPay has now been built-in into GPay, a fee subsidiary Bloc owns.
“You’ll be able to consider it as a handshake settlement as [Kippa] nonetheless owns the product,” Kennedy Ekezie, the cofounder of Kippa, informed TechCabal throughout a telephone name.
“The take care of Bloc was closed weeks in the past,” Ekezie stated. “After talking with a number of different firms, we selected to go along with Bloc as a result of they confirmed probably the most potential to supply quick assist for our retailers.”
Kippa shut down
KippaPay after June’s Naira devaluation dramatically elevated the price of shopping for the POS terminals its banking brokers use. In an intensely aggressive market, these prices would have been unimaginable to recoup with out elevating the fee it charged its brokers.
Bloc emailed present customers as we speak, confirming that full service has been restored on KippaPay’s cell app and Android terminal. It additionally shared directions on resuming transactions on the company banking platform.
Per the identical e mail, service has not been absolutely restored to Linux terminals, which facilitate fee via the hand held POS machine. A supply near Kippa informed TechCabal that retailers had been directed to return their POS gadgets to Kippa. “Those that haven’t will likely be onboarded as GPay customers,” they stated.
A spokesperson for Bloc informed TechCabal that they’ve formally resumed operations and migrated each agent signed up on KippaPay to the brand new GPay software. “Over the subsequent few weeks, we’ll be working onerous to seamlessly interact with the over 19,000 brokers and get them settled in,” the spokesperson stated.
Notice: This text has been edited to incorporate official feedback from Bloc.
