Nearpays Wins UN AI for Good Innovation Factory, Becoming First African Startup to Claim Global Title
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Nearpays Wins UN AI for Good Innovation Factory after the Nigerian fintech became the first African startup to win the United Nations’ prestigious AI for Good Innovation Factory Grand Finale. The achievement highlights Africa’s growing influence in artificial intelligence and fintech innovation.
Nigerian fintech Nearpays emerged victorious after competing against more than 500 startups from around the world. The company first won the African regional competition in Johannesburg before advancing to the global finals in Geneva, where it secured the overall title.
The AI for Good Innovation Factory is part of the United Nations’ AI for Good Global Summit, organised by the International Telecommunication Union (ITU) alongside several UN agencies. The event brings together governments, researchers, startups and technology companies to showcase AI solutions addressing global social and economic challenges.
Nearpays earned recognition for its AI-powered SoftPOS platform, which enables merchants to accept contactless card payments using compatible Android smartphones without requiring traditional point-of-sale terminals.
The solution was specifically designed to address payment challenges faced by small and medium-sized businesses across Africa, particularly in rural and underserved communities where access to conventional POS devices remains limited.
Unlike many existing payment systems, the platform supports both online and offline transactions, allowing merchants to continue accepting payments even when internet connectivity is unavailable.
The company described the victory as a milestone not only for Nearpays but also for African innovation, demonstrating that technology built to solve local problems can successfully compete on the global stage.
Nearpays said the recognition reflects years of product development and customer engagement while thanking the United Nations, the ITU and the AI for Good initiative for creating opportunities for innovators worldwide.
The fintech now plans to continue expanding its digital payment infrastructure across Africa while promoting greater financial inclusion through artificial intelligence.
FAQ
What is Nearpays?
Nearpays is a Nigerian fintech startup that offers an AI-powered SoftPOS platform, enabling businesses to accept contactless card payments using Android smartphones.
Why is Nearpays’ win important?
Nearpays became the first African startup to win the UN AI for Good Innovation Factory Grand Finale, marking a historic achievement for Africa’s technology ecosystem.
What is the AI for Good Innovation Factory?
It is a global innovation competition held during the United Nations’ AI for Good Global Summit and organised by the International Telecommunication Union (ITU).
How does Nearpays’ SoftPOS solution work?
The platform transforms compatible Android smartphones into secure payment terminals, eliminating the need for traditional POS hardware.
Why was Nearpays selected as the winner?
The startup impressed judges with its AI-powered payment technology that addresses financial inclusion by making digital payments more accessible for businesses across Africa.
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