ImaliPay and Glovo have partnered to launch ImailPay’s embedded finance solution that is tailored to meet the needs of a typical Glovo driver and rider. The partnership will offer easy, effortless, and efficient financial products for Glovo drivers and riders.
Glovo is an on-demand courier service that purchases, picks up, and delivers products ordered through its mobile app. Founded in 2015 in Spain and operating in Kenya since 2018 some of its Kenyan retail and fast-food partners include Carrefour and Chicken Inn.
ImaliPay, a fast-growing financial health platform for Africa’s gig economy workers is pleased to announce its partnership with Glovo to facilitate embedded finance options to Glovo drivers and riders to support their productivity, workflow, and working environment.
ImaliPay’s platform will leverage Glovo’s rider network to bring to the market, digital financial products that revolve around a typical Glovo driver and rider’s day-to-day life that ensures a smooth operational environment for them.
ImaliPay’s ability to credit score Glovo drivers and riders and offer products that meet their individual credit risk profile is the foundation of this platform while simultaneously giving them an opportunity to save within the app. ImaliPay will leverage its various “Buy Now, Pay Later” marketplace partners to support the availability of the products and services offered from fuel to smartphones to spare parts. In the near future, ImaliPay will also offer cash advances and a savings product through an automated WhatsApp bot.
Through the partnership, Glovo drivers and riders are now able to access products in real-time. The product request from a rider simultaneously achieves three things.
First, the request issues a voucher that allows the Glovo drivers or riders to redeem the product, for example, fuel from an ImaliPay partner fuel station.
Second, it enables the partner in this case the fuel station to confirm the validity of the voucher. This process eliminates the need for any manual reconciliation since the request is recorded by both the partner account and ImaliPay’s platform.
Third, it approves the request, thereby allowing them to receive fuel in an efficient, contactless, and cashless solution.
Glovo’s GM for Kenya, Priscilla Muhiu says, ‘Our Glovo riders eco-system is continuously growing and we are in pursuit of partnerships that promote the wellbeing of our riders in one way or another. The Glovo-ImaliPay partnership will contribute to the main pain points of our riders; fuel financing, Smartphone financing, personal and accident insurance cover, and savings, providing a safety net for difficult days’.
Tatenda Furusa Co-founder of ImaliPay says, ‘The importance of continuous innovation in business cannot be understated. The development of our platform for the gig workforce and our partnership with Glovo demonstrates ImaliPay’s dedication to delivering innovative solutions that meet a wider range of Glovo drivers and riders’ needs.’
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