New identity for Ukheshe as it rebrands

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 18 Jun 2024
Clayton Hayward, group CEO of the merged companies, with Stephen Enderby, founder and CEO of EFTCorp.
Clayton Hayward, group CEO of the merged companies, with Stephen Enderby, founder and CEO of EFTCorp.

Fintech firm Ukheshe has officially rebranded to EFT Corporation, it announced today in a statement.

This comes after the company in January acquired 100% of EFT Corporation from its parent Loita Transaction Services.

According to the statement, the merged entity will continue to operate under the name EFT Corporation.

The transition from Ukheshe to EFT Corporation is the next stage in bolstering the combined entity’s knowledge and resources, in an effort to improve the ability to offer innovative payment solutions to a wider market, reads the statement.

Clayton Hayward, group CEO of the merged companies, comments: “We are incredibly proud of all Ukheshe has achieved. This rebrand marks the beginning of a new era of growth and possibilities for us as EFT Corporation.

“We look forward to facilitating a seamless and interconnected digital payment landscape that empowers banks and individuals to thrive in the digital economy. A completely digital, always-on, always-instant money transfer and payments ecosystem is inevitable.”

Founded by four entrepreneurs in 2018, Ukheshe provides the platform and technology that supports 16 banks and fintech firms, three telcos, 3 000 billers, 200 000 merchants, as well as 18 million digital wallets and four million apps combined, which process millions of transactions every month.

In 2020, Ukheshe acquired Oltio, the developer behind Masterpass, to democratise digital payments for micro-merchants, evolving the brand to scan-to-pay in 2023.

Looking ahead, EFT Corporation will be positioned to capitalise on the opportunities in the financial sector, notes the statement.

In addition, its technological infrastructure, combined with its deep market insights, will enable it to navigate the dynamic landscape of financial services effectively. EFT Corporation is committed to expanding its footprint across Africa and beyond, driving growth through innovation and strategic partnerships, it states.

Stephen Enderby, founder and CEO of EFT Corporation, concludes: “Under one identity, we can deliver even greater value to our clients and push the boundaries of what’s possible in the industry.

“EFT Corporation’s products and expertise help to make banking innovation simpler. We are excited to continue empowering our customers to create exceptional user experiences and provide innovative, reliable and comprehensive payment solutions that integrate, automate and optimise financial systems and operations across all sectors of the economy.”