Nigerian Fintech Nearpays Wins AI for Good Innovation Factory 2026 in Geneva

African fintech startup Nearpays has won the AI for Good Innovation Factory 2026 at the AI for Good Global Summit in Geneva, earning international recognition for its AI-powered payment platform designed to expand financial inclusion.

Organised by the International Telecommunication Union (ITU), the competition ran over 12 months and featured monthly startup pitching sessions and regional competitions before narrowing the field to 12 semi-finalists. The winner was announced during the Grand Finale at the summit.

Nearpays received the Innovation Factory’s US$20,000 cash prize, along with access to a global network of investors, policymakers, researchers and industry partners supporting the development and deployment of AI solutions with social impact.

AI Powered Payments for Small Businesses

The AI for Good Innovation Factory is the United Nations’ startup acceleration and pitching platform for artificial intelligence ventures addressing challenges in sectors including healthcare, agriculture, education, accessibility, climate and financial inclusion.

Nearpays was recognised for its AI-powered SoftPOS platform, which allows ordinary Android smartphones to function as payment acceptance devices without the need for traditional point-of-sale terminals. The platform is designed to help small businesses and informal traders accept digital payments while using artificial intelligence to automate payment processes and generate business insights.

The company says the platform also helps merchants build digital transaction histories, creating financial records that can improve access to credit and broaden participation in the formal digital economy.

Prize Money Doubled

The awards ceremony included a surprise announcement from musician, entrepreneur and AI advocate will.i.am, who joined the judging panel for the Grand Finale. He pledged to match the Innovation Factory’s US$20,000 prize for each of the three finalists.

The commitment doubles Nearpays’ prize money to US$40,000, while fellow finalists Doto Health and Nemocare, both developing AI-powered healthcare technologies, each received US$20,000 through will.i.am’s contribution.

Beyond the cash prize, the AI for Good Innovation Factory connects startups with governments, international organisations, investors and technology partners to help promising AI innovations move beyond pilot projects and into wider deployment.