Paymenex launches OneCard Africa, revolutionising seamless payments on the continent

Paymenex has unveiled OneCard Africa, a digital payment card exclusively designed for Africa, which promises to transform financial transactions on the continent.

OneCard operates in all African currencies, enabling users to pay, send, and receive money across borders within the African Continental Free Trade Area (AfCFTA) without currency conversion complications.

Available as a debit card for users with existing bank accounts, as well as in prepaid and credit card formats, OneCard offers unmatched flexibility for individuals and businesses.

With multiple channels of payment, users can complete transactions via mobile, QR code, email, SMS, social media, contactless options, and biometric verification, giving Africans access to a truly comprehensive payment solution.

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At a press conference in Abuja, Dr. Kingsley Chibuzor Aguoru, the founder of Paymenex and an expert in financial technology, emphasised OneCard’s successful testing on Cameroon’s national tollgate project, ePeage.

Launched in collaboration with the Ministry of Finance and Cameroon Postal Services in 2020, the ePeage project allowed commuters to make quick, contactless payments at toll crossings—demonstrating OneCard’s practicality in real-world applications.

OneCard further supports African businesses by enabling merchants to accept payments through various platforms, including mobile apps, websites, in-store points of sale, and smart invoicing systems.

In addition, every transaction made with OneCard earns users reward points, bringing added value to consumers and promoting loyalty for African merchants.

This innovation addresses several longstanding issues in African payments, especially the challenges around foreign exchange.

Unlike other digital cards that default to the USD, creating costly currency translation risks, OneCard operates solely in African currencies, offering seamless transactions without conversion fees.

Furthermore, it eliminates interchange fees, aligning with Paymenex’s commitment to promoting financial inclusion and reducing transaction costs for African users.

Founded in 2007 by Dr. Kingsley Chibuzor Aguoru, Paymenex operates xTransNET, a compelling alternative payments network focused on emerging markets and tailored specifically to Africa’s unique needs.

With OneCard Africa, Paymenex is advancing its mission to build a robust financial ecosystem that empowers Africans to navigate cross-border payments without the limitations of traditional payments networks.