VYZYO, a rapidly growing mobile financial services technology company, and CAMPOST, the national provider of postal and financial services in Cameroon, have signed a commercial partnership agreement to deploy and operate digital payment and mobile financial services throughout Cameroon
VYZYO will initially deploy its VYZYOPay solution for CAMPOST. VYZYOPay is a state-of-the-art mobile financial services technology platform that will enable CAMPOST to securely rollout and manage digital payments for government services, money transfers and international remittances as well as mobile financial services for micro-credit and micro-savings.
As part of the partnership between the two companies, VYZYO will provide CAMPOST with strategic consultancy to increase the awareness, education and, most importantly, the adoption of these services, especially among the large underbanked and unbanked segments of the population in Cameroon.
“Our partnership with VYZYO and the new digital payment and mobile financial services we are launching together will strengthen our competitive positioning and create important new revenue streams for CAMPOST,” stated Pierre Kaldadak, CEO of CAMPOST.
CAMPOST's new services are intended to be both financially and socially inclusive and will be available to the entire population of the country, including those with limited or no access to banking services, health care and communications infrastructure.
Jéhu Ndoumi, director general of VYZYO's local subsidiary YUNUS Cameroon, said, “At the same time, these new digital payment and mobile financial services will give all CAMPOST customers the opportunity to access new innovative transaction possibilities from the convenience of their mobile devices that were previously offered only by banks and insurance companies and were accessible only by the privileged segments of society.”
“These new services and the supporting local ecosystem we are building are strategically reshaping the landscape for digital payments and mobile financial services in Cameroon. With this, we are laying the foundation for what we believe every citizen around the world should have access to at a basic level,” explained VJ Odedra, founder and Group CEO of VYZYO.