airpay, the fast-growing integrated financial services platform, expects a revenue share of 30 per cent from its strategic overseas play by 2025.
The move follows its entry into the African and Middle Eastern markets.
The company recently forayed into Tanzania through a formal engagement with the Ministry of State President’s Office of Labour, Economic and Investment in Zanzibar. airpay intends to contribute to the Government’s Zanzibar Vision 2050 by creating awareness about the digital payments ecosystem and empowering merchants and customers through its integrated offerings.
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Kunal Jhunjhunwala, Founder and Managing Director, airpay, said the company is proud to take Made in India technology to the world by formally entering Tanzania.
Given its untapped economic potential, demographic factors, mineral reserves, and proximity to the major developed countries, the company believes the future belongs to Africa, he said.
“As a strategic partner, we would enable the Government to transform its digitally inclusive payment goals into a digital-first financial services ecosystem,” he added.
Mudrik R Soraga, Minister of State President’s Offices Labour, Economic Affairs and Investment, said Zanzibar as a government is thrilled at the vision that airpay, alongside its local partner Twigalpha, has for Africa as a whole.
This initiative fortifies the government’s belief to attract leading technology companies to build modern digital hubs in Zanzibar that will be a catalytic force for technological innovation and transformation for Africa, he added.