Nearpays, a Nigerian fintech firm, has secured the grand‑final title at the United Nations’ AI for Good Innovation Factory, marking the first time an African startup has claimed the global prize.
From Johannesburg to Geneva: The Competition Trail
The AI for Good Innovation Factory gathered more than 500 startups from around the world, each proposing artificial‑intelligence solutions to social and economic challenges. Organized by the United Nations through the International Telecommunication Union, the summit brings together governments, researchers, and technology firms to explore AI’s role in development.
Nearpays first entered the contest at the African regional level in Johannesburg, emerging as the winner among dozens of contenders. The victory earned the firm a spot in the global finals held in Geneva. There, it advanced through the semi‑final round and ultimately took the grand prize, a milestone that the firm says highlights the capacity of African innovators to compete on a worldwide stage.
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How SoftPOS Addresses Payment Gaps
Founded to bridge a persistent gap in African payments, the company targets small and medium‑sized enterprises that lack access to traditional point‑of‑sale terminals. High costs, limited availability, and deployment obstacles have left many merchants—especially those in rural and underserved areas—outside the digital payment ecosystem.
Its solution, SoftPOS, converts compatible Android smartphones into payment acceptance devices. The platform leverages AI to manage transaction processing, ensure regulatory compliance, detect fraud, and support broader business operations. Because it is designed for the continent’s infrastructure realities, SoftPOS can function both online and offline, allowing merchants to accept contactless card payments even when internet connectivity is unavailable.
The firm attributes its success to years of product development and close engagement with customers. It also thanked the UN, the ITU, and the AI for Good initiative for creating a venue where innovators can apply AI to tangible problems.
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The win signals new possibilities.
Implications for African Tech Ecosystems
The achievement is presented as more than a corporate milestone; it is framed as a victory for African innovation. The organization hopes the recognition will inspire other founders across the continent to develop technologies that solve locally relevant challenges while also meeting international standards.
While the title represents a notable accomplishment, the team notes that the journey continues. It plans to expand its digital financial infrastructure throughout Africa, aiming to reach more merchants and enhance the robustness of its AI‑driven platform.
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