The acquisition expands Emergent Technology Holdings LP’s payments capabilities in Africa for international merchant clients and strengthens Interpay Africa’s local presence

SANTA CLARA, Calif. December 13, 2018 – Emergent Technology Holdings LP (“EmTech”), a global financial technology company, is pleased to announce it has acquired Interpay Limited (“Interpay Africa”), a payments processor based in Ghana. The acquisition extends the operations of EmTech’s digital payments business, Emergent Payments®, a local payments provider in 70 emerging markets.

Interpay Africa connects African merchants to local and international payments capabilities across mobile money, traditional payment and local bank platforms. The company has over 40 employees in offices in Ghana, Benin and Pakistan.

“This investment demonstrates EmTech’s total commitment to Africa and our unwavering belief in the region’s potential. African markets are highly complex and require a meticulous approach,” said Tim Davis, EmTech’s Managing Director, EMEA. “We are accelerating our African expansion with technical solutions already integrated with local participants and an onthe- ground team with a deep understanding of the consumer culture and regulatory environment.”

Emergent Payments is a payment facilitator for large-scale digital merchants expanding into emerging markets. Through a single API integration, merchants gain access to local payment services in emerging market countries throughout Asia Pacific, Latin America, Africa and the Middle East. The Interpay Africa acquisition marks the launch of EmTech’s Africa 20-20-20 strategy, expanding Emergent Payments’ services into 20 African countries by 2020.

“Africa presents incredible e-commerce growth opportunities. The young population of over a billion people are rapidly embracing technology innovation and are increasingly demanding goods and services, both local and foreign. The payments landscape is developing fast. We are excited to be part of EmTech’s vision to further advance local payment services across the region and to provide the best regulatory, tax and FX solutions to global merchants,” said Saqib Nazir, Interpay Africa’s CEO.

EmTech will also launch its G-Coin digital tokens into the African market in 2019. G-Coin tokens are digital certificates of title to responsibly sourced physical gold and are a viable alternative to volatile local currencies.

“We are enthusiastic about bringing more African consumers into the financial system. With GCoin tokens, the unbanked and underserved can sustain their wealth and interact with their community, local businesses, and indeed global merchants that they had previously been cut off from,” said Mr. Davis.

“A large part of Africa’s population is at the bottom of the pyramid, and if Africa is to realize its potential, then this segment has to be financially included. Mobile phones and mobile money have made this group more visible, but more effort is needed. EmTech is making significant strides to build an ecosystem that encourages greater financial inclusion, and we welcome being a part of that collaborative effort moving forward,” said Mr. Nazir.

Interpay Limited has been renamed Emergent Payments Ghana Limited and will do business as Emergent Payments Africa.

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About Emergent Technology Holdings LP
Based in Santa Clara, California, Emergent Technology Holdings LP owns and operates Emergent Payments®, Responsible Gold™ and G-Coin™. The company connects large-scale digital merchants to local payment methods in more than 70 emerging markets across Asia Pacific, Latin America, Africa and the Middle East. EmTech also provides blockchain-based solutions that track responsibly sourced gold from mine, to refinery, to vault and digitizes that gold into secure G-Coin tokens for investing, sending and spending globally. For more information visit www.emergenttechnology.com and www.emergentpayments.net.

About Interpay Africa
Based in Accra, Ghana with offices in Benin, West Africa, and Lahore, Pakistan, Interpay Africa is a payment processor that enables digital financial services across emerging markets with a focus on the three pillars of the new digital economy: e-commerce, financial inclusion and interoperability. For more information visit www.interpayafrica.com.

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Emergent Technology Holdings LP Media Contact: Lauren Dickson
+ 1 310 871 2172 / lauren.dickson@emergenttech.com

Interpay Integration with PiP iT: FAQ’s for Interpay Merchants

What is the new service Interpay is offering?
Ghanaians in the UK and Canada can now make direct cash payments to Interpay merchants.

This payment service is possible through our integration with PiP iT, a UK based payment solution company that makes online payments easier and more secure by enabling online payments to be made via cash.

We’re excited about this payment model as it disrupts the remittance market by making it cheaper for Ghanaian expats in the UK and Canada to pay bills for themselves or for their friends or relatives in Ghana (as they don’t have to send the money to Ghana for the bills to be paid).

Why should my company sign on to receive payments from Canada and the UK?

There are over 120,000 Ghanaians living in the UK (over 94,000) and in Canada (over 30,000). Although they are abroad, these expatriates maintain connections with Ghana through regular remittances (for their friends or relatives in Ghana to pay bills). Some of them may also own property, have investment portfolios, or pay insurance premiums in Ghana.

Thus, they are interested in making direct payments to companies such as yourselves either for themselves or on behalf of someone in Ghana; they therefore present a large audience through which you can receive payments for your goods and services.

Are there any charges for signing on and receiving payments from Canada and the UK?

No, there are no additional charges for receiving payments from Ghanaians in Canada and the UK. The customer in the UK bears the cost for converting your bill or invoice from Ghana Cedis to British Pounds or Canadian Dollars.

How does payment work?

• The user in the UK or Canada visits your company’s Interpay webPOS or Open Merchant page
• The user selects “Pay with PiP iT” from the drop down menu of local and international payment options
• The user generates a barcode bill by completing a form with information such as his or her country, mobile number, and the amount to be paid, and, if applicable, the details of the individual in Ghana that the user is making payment on behalf of. The barcode can be printed or sent to an e-mail address or mobile phone.
• The barcode is taken to any UK or Canadian Post Office, presented over-the-counter and paid using cash or a debit card. It is also possible for bills to be paid at Post Office self-service kiosks in Post Offices where this facility is available.
• The user is issued with a receipt, followed by an email confirmation of their payment (this is issued on the following day) and you, the merchant, are notified of the payment (up to one working day after payment is made)

There any system requirements I must complete once I sign on?

No, there aren’t any requirements on your end. We will handle the creation of the “Pay through PiP iT” option on your Interpay webPOS and/or Open Merchant platform. PiP iT will handle the barcode generation and payment notification.

How long will it take for payment to reflect?

It will take up to 9 working days for payments from the UK to reflect on your Interpay dashboard.

How will I receive payments in my bank account?

You will receive payments on the next practicable Friday after the payment has reflected on your Interpay dashboard. We will transfer payments from Canada and the UK to your bank account along with your other payments from Ghana.

I’m interested in signing on, what’s next?

Let us know you’re interested, send us a high resolution PNG or JPEG version of your logo (for online marketing on social media and on our website) and tell all your customers about the new service!

How will my customers in Ghana and Ghanaians abroad know about this new payment service?

Together with PiP iT, we will embark on a 360 digital marketing campaign that include landing pages on our website, Facebook ads, and ads on websites that our target demographic most frequents.

you have any more online and offline marketing ideas specific to your company, please share, we’ll be happy to consider them.