A tech startup by gutsy Soweto entrepreneurs - which allows customers to transact online without using bank cards - is determined to make its mark in a market that is increasingly drawing the attention of corporates with deep pockets.
Airbuy, one of the few fintech startups founded by township-based entrepreneurs, entered the market in 2019, targeting the unbanked market. This market has been left out of the growing e-commerce sector, which benefitted from a shift in shopping trends as consumers moved online, particularly during the Covid-19 pandemic.
The burgeoning market has given rise to a slew of payment service providers determined to snatch a slice of the pie.