Xente is a mobile payments and mobile commerce platform. Xente is a consumer brand of Intel World International Limited, a company registered in Uganda, East Africa.
Why we exist
In the world today, there exists two (2) broad economies, an old economy and a new economy. In the old economy business is done at brick mortar locations using cash. The old economy is constrained by geographical location. The new economy is mobile & online and transactions are cashless. The new economy is not constrained by geography.
We (Businesses in Uganda and Africa) are still stuck in the old economy characterized by a huge informal sector (Over 90%) that operates outside of the formal finance and commerce. This implies that we continue to fall further behind in the global balance of trade hence getting stuck in a poverty cycle.
We built Xente to enable Ugandan and African businesses to move into the new economy by enabling them to
- Sell their products on any mobile channel including feature phones, smartphones, desktop and Internet of Things (IOT)
- Get paid from anywhere in the world via digital payments methods such as mobile money, bank cards (Visa, MasterCard, Amex etc.), bitcoin and other digital payment instruments
Our vision is to ensure that everyone, no matter where they are in the world can participate in the global digital economy.
2 billion people, more than half of the world’s population do not have access to a formal financial service. The promise of mobile money is that it has been able to give people access to a mobile account. However, the overwhelming use case for mobile money is peer to peer transfers. Products like savings, credit, insurance etc. are still less than 1% of the transaction volume. The reason is simple, research shows that people still don’t have money to participate in financial services. The solution, give everyone with a mobile money account access to a global market base so they can sell their products and services beyond their locale.
That is why we have decided that at least 20% of products and services sold on our platform will be produced by people who live on less than $ 1 dollar a day. Once an item is sold, we shall deliver the funds onto their mobile money accounts. Once they have money in their accounts they will then be able to participate in formal financial services
USSD, (Android), IOS, Windows, Website, Facebook Bot (Logos)
Unified Global Payments
Wallet (Powered by MicroPay), MTN Mobile Money, Airtel Money, Visa, MasterCard, Amex, Bitcoin, Voucher, Credit
Telecoms (Airtime, Mobile Internet), Bill Payments (Electrcity, Water, TV), School fees, Insurance, Taxes, Event Organizers, Movie theaters, Public transport, Tours and Travel, Online stores
Payment Gateway, Commerce Gateway
Special projects to list products and services produced by those living on less than $1 a day
SWIFT Innotribe – Voted most promising startup to the future of financial sector in Africa
Mobile Money Africa – Best new product, 2015
Barclays Rise Alumni