Zinternet, an innovative & interoperable mobile banking and payment provider, has been acquired by Konga.

The deal was sealed, after receiving consent from the Central Bank of Nigeria.

Speaking to reporters on the acquisition, Sim Shagaya, Konga CEO, said, “We are excited to work with our banking partners to extend the reach of their services in driving the adoption of cashless payment solutions. As merchants ourselves, we know firsthand the frictions involved in transactions processing and we look forward to exploring how our banking partnerships could eliminate this friction not just for Konga, but also for SMEs around the country.”

Konga now owns 100% of Zinternet’s assets including its mobile money license which will improve Konga Pay.