Tipping Startup Digitip Acquired by SA Fintech Street Wallet

South African fintech company Street Wallet has bought the tipping startup Digitip. This is great news for many informal workers and traders in KwaZulu-Natal and beyond. The tipping startup Digitip acquired by SA fintech Street Wallet means that more informal workers can now get digital tips easily and safely. It also helps Street Wallet grow and offer better services to its users.

Digitip started in 2023 to help informal workers receive tips digitally instead of in cash. Now that Digitip is acquired by SA fintech Street Wallet, the users and merchants of Digitip will enjoy better technology and faster payments thanks to Street Wallet’s strong system.

Street Wallet itself was created in 2021 by Kosta Scholiadis. The company made a mobile payment platform just for informal traders and service providers in South Africa. What makes Street Wallet special is that it lets these traders accept cashless payments without needing a bank account or extra hardware. People can pay by scanning a code using popular payment methods like Apple Pay, Samsung Pay, SnapScan, Zapper, or Scan-To-Pay. After a customer pays, the vendor gets an instant SMS confirmation. Their earnings are then turned into Standard Bank Instant Money Vouchers by the next morning. These vouchers can be easily cashed out at ATMs or partner stores.

Tipping Startup Digitip Acquired by SA Fintech Street Wallet

Last month, Street Wallet raised $350,000 to help improve sales and increase its presence across South Africa. After this, the tipping startup Digitip acquired by Street Wallet was announced. This deal strengthens Street Wallet’s presence especially in KwaZulu-Natal and speeds up their goal of helping informal traders join the digital economy.

Monica Nilsen, who started Digitip, said this change is “a game-changer” for her users. She explained that with Street Wallet’s system, Digitip users will pay lower fees when they get paid tips, receive their money every day, and use a better and smoother digital platform. Digitip acquired by Street Wallet means a faster and more rewarding experience for everyone involved.

Stephen Britto, Street Wallet’s operations and finance chief, said combining the two startups is an important step. He said Street Wallet wants to make transactions as simple as possible and bring more people into the banking world. With Digitip acquired by Street Wallet, they hope to offer special fee plans that give traders better access to banking and financial services.

This acquisition shows how fintech companies are stepping in to help informal workers who often do not have easy access to good digital payment tools. Informal traders make up a big part of the economy, but many of them struggle with handling cash safely or accessing banks. Thanks to Street Wallet’s platform and Digitip’s tipping technology now being together, these traders can easily accept payments and manage their money in a secure way.

Going digital like this helps informal traders protect their income and even grow it over time. The tipping startup Digitip acquired by SA fintech Street Wallet is a smart move that makes it easier for informal workers to get paid digitally and run their businesses smoothly.

To sum it up, Digitip acquired by Street Wallet brings better technology, lower costs, and quicker daily payments to many informal traders in South Africa. It also helps Street Wallet grow strong, mainly in KwaZulu-Natal, and pushes both companies’ mission to bring more informal traders into the digital economy through modern payment solutions.

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