SpaceX Payments In Rwanda To Be Facilitated By This Pan-African Neo Bank

With Starlink‘s advent into Rwanda, Africa-based neobank Payday has officially relaunched in the country.

What Happened: Payday took to Twitter on Tuesday to announce their official relaunch. “Hello, Rwanda. We are back!” Payday tweeted via its official handle.

With the launch, users can signup, pay for SpaceX’s Starlink, swap across currencies and send money to Rwanda and Nigeria.

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Why It Matters: Founded by Favour Ori in June 2021, Payday enables users to open multiple global accounts in dollar, pound or euro and send and receive money globally. The neobank, operational in Nigeria, Rwanda, and the UK, has over 350,000 users and about 40,000 transactions per day, according to its website.

Late last month, Payday raised $3 million in a seed funding round headed by Moniepoint Inc, taking total amount raised uptil now to $5.1 million. The fresh capital raised would be used to secure operational licensing in the United Kingdom and Canada, and building out operations in the UK, the company said.

Nigeria became the first African country to receive Starlink satellite broadband service in January. In late February, SpaceX announced that it’s live in Rwanda. Though initially there were reports of users not being able to make payments, Payday later stepped in with several Nigerian users using their virtual cards to pre-order, reported Business Insider.

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