WeCashUp, the futuristic banking start-up
Founded by the young Cameroonian of 24 years, Cédric Atangana, the start-up Infinity Space provides customers with a payment platform without bank card, WeCashUp. It allows individuals without a bank card to be able to make online purchases and secure their transactions. As for e-merchants, WeCashUp offers them an opportunity to expand their deployment area and to acquire new markets, in this case in Africa.
For the Polytech Marseille graduate in Industrial and Computer Engineering, it is essentially a question of aligning “sleeping” Africa on a much more dynamic e-commerce market in Europe and America. He is also keen to adapt technological advances to African specificities.
“Out of more than 1 billion people in 2016, there are still around 800 million without a bank account and no online payment method. Yet 400 million of them have mobile phones and are already using mobile payment solutions such as M-PESA, Orange Money, MTN Mobile Money, Airtel Money etc. Also, by 2020 the Internet penetration rate will reach 52% and more, which means that people in Africa have more and more access to the Internet, access online merchant sites but cannot not pay simply because they do not offer them mobile payment online, “he explains to Start-upbrics.com.
WeCashUp was selected to participate, on April 14, 2016, in the “European Fintech Awards” competition which aims to reward the 100 best innovations in financial solutions and payments.