PayTota is making waves in the fintech world by empowering over 400 businesses with its seamless payment solutions. As part of the #40Days40FinTechs initiative, Day 29 shines a spotlight on this innovative company, which is dedicated to supporting start-ups, micro, small, and medium-sized enterprises (MSMEs) that rely on immediate cash flow to sustain their operations.
For many MSMEs, the proceeds from sales are often reinvested back into the business almost immediately. Unlike larger corporations that can afford to sit on capital for extended periods, these smaller entities require a payment collection platform that ensures funds are remitted without delay.
While numerous payment aggregators promise quick transactions, only a select few deliver on that promise. PayTota stands out as a reliable partner for MSMEs, enabling them to collect and manage payments efficiently.
Founded in 2020, PayTota is an all-in-one online payment gateway that facilitates transactions for both local and international buyers and sellers. The company has forged partnerships with various payment facilitators, including Mobile Network Operators (MNOs) like MTN Mobile Money and Airtel Money, as well as major payment card operators such as Visa and Mastercard.
Erasmus Okurut, the founder and CEO of PayTota, describes the company as a “ground-breaking financial technology company” that aims to empower businesses across Africa and beyond. “We are a total payment solution that empowers businesses not only in Uganda but in the entire continent and the global,” Okurut states.
He elaborates on the simplicity of joining PayTota: “To enroll with PayTota, you just go to our website and sign up an account. You will then be asked to submit some documents as per the know your customer/business guidelines. Once your documents are received and verified, your account will be activated, integration will be done and you will start accepting payments.”
PayTota offers a range of services, including customized hosted payment pages, often referred to as checkouts. Businesses can reach out to PayTota, and the team will design these pages, embed them on their websites, and allow them to accept payments seamlessly.
“We accept mobile money and card payments. We regard ourselves as payments aggregators and operators,” Okurut adds.
What sets PayTota apart is its regulatory compliance. The company is fully licensed by the Bank of Uganda, which grants it the authority to manage payments.
“We are a regulated payment gateway by Bank of Uganda. We have a license as a payment operator for small funds and third-party systems. That license gives us permission to be able to process payments for our partners,” Okurut explains.
This trust has led to over 5000 transactions processed, amounting to more than USD 400,000.
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