One of the leading ride-hailing services in Africa, Yango, has stepped up its efforts to provide a safe and convenient riding experience to its customers with the introduction of Yango Pay, an in-app cashless payment method on the app. Yango Pay is implemented in two of the biggest markets for Yango; Ivory Coast and Ghana starting this month.
The Yango Pay provides riders with prepaid closed-loop wallets for Yango ride-hailing services including cashless mobile money transactions, refunds as well as top-ups via bank accounts. This new service aims at providing a safer, faster, and more convenient online payment experience.
The Yango Pay solves instances where the rider has to wait for the driver to get physical cash when he/she is supposed to provide change to the rider at the end of the trip, which in most cases, is time wasting, and comes a solution to those cases when drivers run out of cash for change.
Any adjustments or cancellations are handled smoothly, and the funds are promptly returned to the user’s wallet. Yango Pay wallet is free to use: there are no maintenance, top-up, or transaction fees for users. To make it possible to use the Yango Pay account for paying for the ride, this method must be selected before the trip request.
For Yango partner’s drivers, Yango Pay will serve as a more convenient and safer means of securing their money as they will not have to carry cash on them as they go about their work. With Yango Pay, it is also impossible for the rider to leave without paying for the ride and payments that do not go through at the end of every trip will be debited to the rider and paid to the taxi parks account.
Drivers will receive their payments the same way as other cashless payment methods, such as cards. Once a user pays for a ride using Yango Pay, the driver’s earnings are transferred to their account. The payout schedule depends on the taxi parks they are working with.
Adeniyi Adebayo, Head of Africa and Chief Business Development Officer at Yango, said:” Yango Pay has a crucial objective which is to provide a safe, secure and a convenient payment option to enhance ride-hailing experience for both our drivers and riders, building trust among millions of users. We are thrilled to be able to offer this new service and participate in building financial inclusion in Africa. With cashless payments, the passenger can pay the exact amount without adding extra cost as commission through mobile money,” he added.
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