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Waafi by Salaam Bank partners Paymentology to launch cards across Somalia

Salaam Bank Paymentology

Paymentology has entered into a partnership with Salaam Bank’s Waafi to launch digital and physical cards across Somalia.

Waafi is a mobile money app born from the collaboration between Salaam Bank, a financial institution in East Africa and Hormuud extending to Telesom, and Golis, a telecom provider in Somalia. The mobile money app offers communications, entertainment, and payment functionalities intending to promote a digital lifestyle and a cashless society. Waafi has now turned into a full-fledged digital bank with the extension of its card offering leveraging Paymentology’s issuing processing platform.

The partnership introduces digital and contactless payments through Waafi by Salaam Bank’s digital-first initiative, offering Waafi mobile app offers users the opportunity to digitally open an account, create a digital Mastercard card, link the card to a wallet or account, tokenise the card on a digital device, and make contactless payments at ease.

“Mobile and digital wallets play a crucial role in the financial ecosystem in Somalia. Powering Waafi’s digital money app exemplifies our commitment to advancing financial technology in fast developing markets,” said Kirsten Wortmann, Regional Director for Africa, Paymentology.

“We are excited to bring the first digital card to the Horn of Africa, paving the way for a future where digital and contactless payments are the norm.”

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