Ecentric wins Fintech Innovation Award

18 November 2024, Cape Town – Leading omnichannel payments provider Ecentric and its partners were awarded Fintech Innovation of the Year at the 2024 Africa Tech Festival for their ground-breaking, industry-led Wealth on Wheels (WOW) initiative that aims to revolutionise South Africa’s minibus taxi industry.

Launched at this year’s Southern African National Transport Conference (SATC) in Pretoria, the WOW platform is a transformation that brings digital solutions to the heart of transportation, designed to modernise the minibus taxi sector and propel it into the digital age.

In partnership with the Eastern Cape Transport Tertiary Cooperative Limited (ECTTC) and FORUS Digital, WOW introduces a suite of transformative technologies such as digital cash payments, GPS tracking, and blockchain to streamline operations, increase revenue, and enhance safety for the travelling public.

Reflecting on the journey, Paul Wenborn, Ecentric’s Business Development and Mobility Lead, highlights WOW’s end-to-end ecosystem, saying, “With WOW, we’re rewriting the rules of the road, ushering in a future where mobility is accessible, secure, and profoundly transformative. WOW is a collaboration that meets the needs of all stakeholders—from owners and drivers, to merchants and government agencies—while providing a safe and secure experience for commuters.”

The WOW initiative is being rolled out across the Eastern Cape, beginning with the onboarding of the industry in December 2024. There are plans for further expansion to other regions across South Africa. The platform’s use of blockchain technology ensures data transparency and security, allowing operators to make informed decisions, while also enhancing the safety of passengers with continuous monitoring and real-time alerts for incidents.

“We are excited about the future impact of WOW on the taxi industry,” added Wenborn. “This award is just the beginning of a larger movement toward digitisation and formalisation that will change the landscape of transport in South Africa.”