South African-based payment solution HelloPay aims to provide foreign nationalities in the country with access to financial services. Created to boost convenience amongst small businesses, HelloPay seeks to broaden its market by ensuring migrants can access financial solutions due to the challenges and complexity of banks accepting and processing foreign documents.
South Africa's immigrant population contributes to the positive to the nation's income despite the challenges of discrimination which also includes difficulty in accessing basic financial services. HelloPay hopes to create a platform for immigrants to access these basic financial services and more. Through HelloPay, migrants will be able to easily run their businesses with digital solutions at a low cost. Solutions like accepting card payments easily through mobile phones will help entrepreneurs or migrant business owners control and manage cash flow in their businesses.
Due to its mobility and flexibility, migrant business owners in South Africa through the digital solutions of HelloPay can compete with the best companies in the country. Improving their financial capabilities, improving their living standards, and the economy of South Africa. For HelloPay, enabling digitizing South Africa's immigrant population will boost its customer base and popularity in South Africa's digital ecosystem.
South Africa in focus:
Population: 59.31 million in 2020 as compared to 58.56 million in 2019
GDP: $301.9 billion compared to $351.4 billion in 2019
GDP per capita: $5,090 in 2020 compared to $6,001 in 20