Nearpays Wins Money20/20 Fintech for Good Award in UAE

In Short

Nearpays has won the Fintech for Good Award at Money20/20 Middle East. The Nigerian startup was recognised for its Soft POS product, which lets merchants accept card payments using a smartphone.

What Happened

Nearpays won the Fintech for Good Award at Money20/20 Middle East after competing against more than 500 applicants. Only 25 companies progressed to the semifinals.

Nearpays was recognised for its Soft POS solution, also called tap-to-phone. Soft POS means a phone works like a payment terminal, so a business can take card payments without buying a separate POS device.

The startup says this reduces the cost of accepting digital payments, especially for small and medium-sized businesses that may not want to pay for hardware. Victor Daniyan, the founder and CEO, said Nearpays is focused on making payment collection simpler and more affordable for SMBs across Africa.

Competition organisers also highlighted the company’s pitch, its focus on customer value, and its use of artificial intelligence and contactless payments. Contactless payments are tap transactions, like using a card or phone on a reader without inserting it.

Why It Matters

Soft POS is becoming a key part of card acceptance because it can expand payment access without heavy hardware rollouts. For merchants, that can mean faster onboarding, lower upfront costs, and fewer device logistics issues.

For the wider Fintech ecosystem, the award is another signal that African payment infrastructure startups are getting noticed outside the continent. It also puts more attention on practical tools that help merchants get paid, rather than consumer-only apps.

Nearpays now joins a growing list of African fintechs using software-first approaches to improve merchant payments, especially in markets where POS supply, pricing, and maintenance can slow adoption.