Nigerian fintech startup Nearpays has become the first African startup to win the AI for Good Innovation Factory Grand Finale, marking a historic achievement at the United Nations' AI for Good Global Summit.

The competition attracted more than 500 startups from around the world, each showcasing artificial intelligence solutions designed to address pressing social and economic challenges. Organised by the International Telecommunication Union (ITU) in partnership with several UN agencies, the summit brings together governments, researchers, startups and technology companies to explore AI's role in driving sustainable development.

Historic Win for African Innovation

Nearpays earned its place at the global finals after winning the African regional competition in Johannesburg before advancing to Geneva, where it emerged as the overall winner.

The company described the achievement as more than a business milestone, saying it demonstrates that technology built to solve African challenges can compete successfully on the global stage.

Transforming Payments with AI

Nearpays was founded to address one of Africa's persistent payment challenges: enabling small and medium-sized businesses to accept digital payments without relying on expensive point-of-sale terminals.

Its flagship solution, SoftPOS, transforms compatible Android smartphones into payment acceptance devices, allowing merchants to receive contactless card payments directly through their phones.

The platform integrates artificial intelligence across payment processing, fraud detection, compliance and operational workflows to deliver secure and efficient digital payment services.

Built for African operating environments, the solution functions both online and offline, ensuring merchants can continue accepting payments even in areas with unreliable internet connectivity.

Driving Financial Inclusion

By removing the need for dedicated payment hardware, Nearpays aims to expand access to digital financial services, particularly for small businesses operating in underserved and rural communities.

The company said the recognition validates years of product development and customer engagement while reinforcing its mission to strengthen digital financial infrastructure across Africa.

Nearpays also expressed appreciation to the United Nations, the ITU and the AI for Good initiative for creating a platform that enables innovators to develop AI solutions with real-world impact.

Why It Matters

Nearpays' victory marks a significant milestone for Africa's technology ecosystem, highlighting the continent's growing role in developing globally competitive AI solutions that address local challenges while advancing financial inclusion.