Nigerian Fintech Nearpays Wins UN Global AI Competition

Nearpays, a Nigerian fintech startup, just made history by becoming the first African company to win the United Nations AI for Good Innovation Factory grand finale. The victory came after competing against more than 500 startups from around the world.

The global competition, organized by the International Telecommunication Union and several UN agencies, challenges companies to create artificial intelligence solutions that tackle real social and economic problems. This year's winner is solving a challenge millions of African business owners face every day.

Small businesses across Africa struggle to accept digital payments because traditional card terminals are too expensive or hard to get. This keeps many merchants stuck in cash-only operations, limiting their growth and excluding them from the formal financial system.

Nearpays developed a solution that transforms any compatible Android smartphone into a payment terminal. Merchants can now accept contactless card payments directly on their phones without buying separate hardware.

The company built artificial intelligence into the platform to handle payment processing, detect fraud, and ensure compliance. Recognizing that internet access isn't always reliable across Africa, they designed the system to work both online and offline.

The journey to Geneva started in Johannesburg, where Nearpays won the African regional competition. From there, they advanced to the global finals in Switzerland, progressed through the semi-finals, and claimed the top prize.

The Ripple Effect

This win signals something bigger than one company's success. African innovators are proving that solutions built for local challenges can compete and win on the world stage.

By removing the hardware barrier to digital payments, Nearpays is helping businesses in rural and underserved communities join the digital economy. Each new merchant who can accept card payments represents another step toward financial inclusion across the continent.

The company says the recognition reflects years of product development and customer engagement. They hope their success encourages more African founders to build world-class technology that solves problems in their own communities.

Nearpays thanked the UN and ITU for creating platforms that help innovators use artificial intelligence to address real-world challenges. For the team, winning the global title marks the end of one chapter and the beginning of their next mission: expanding digital payment access across Africa.