Nearpays has become the first African startup to win the United Nations’ AI for Good Innovation Factory, securing international recognition for a technology designed to make digital payments more accessible to small businesses. The victory places the Nigerian fintech among a growing number of companies using artificial intelligence to solve practical challenges while expanding financial inclusion across the continent.
The company was announced as the winner during the 2026 AI for Good Global Summit in Geneva, following a year-long competition that brought together more than 500 startups from around the world. Organised by the International Telecommunication Union (ITU), the AI for Good Innovation Factory identifies and supports startups using artificial intelligence to address pressing social and economic challenges by connecting them with investors, governments, policymakers and industry leaders.
Nearpays secured the global title after progressing through monthly thematic pitching sessions, regional competitions and the grand finale in Geneva. Its journey began in Johannesburg, where it won the African regional competition before advancing through the semi-finals to become the first African startup to claim the Innovation Factory’s top prize.
Driving Financial Inclusion Through AI
Founded by Victor Daniyan, Nearpays was created to address one of Africa’s long-standing payment challenges: giving small and medium-sized businesses access to affordable digital payment solutions. Many merchants, particularly those operating in rural and underserved communities, remain excluded from the digital economy because traditional point-of-sale terminals are expensive and difficult to access.
The company’s answer is SoftPOS, an AI-powered platform that turns compatible Android smartphones into payment acceptance devices. The solution allows merchants to accept contactless card payments without investing in traditional point-of-sale hardware, significantly reducing the cost of entering the digital payments ecosystem.
Built to meet African infrastructure realities, the platform works both online and offline, allowing businesses to continue processing payments even when internet connectivity is unreliable. Artificial intelligence is integrated across the platform to support payment processing, compliance, fraud detection and business operations. It also helps merchants generate digital transaction records that can strengthen their financial history and improve access to credit over time.
Speaking about the broader role of artificial intelligence, Daniyan said, “AI is not just a tool; it’s humanity’s opportunity to solve global challenges at unprecedented scale.”
Nearpays said the recognition reflects years of product development and close engagement with customers. The company added that it hopes the achievement will encourage more African entrepreneurs to build technology that solves local challenges while remaining competitive on the global stage.
Global Recognition Opens New Opportunities
The grand finale concluded with an unexpected announcement from musician, entrepreneur and AI advocate will.i.am, who joined the judging panel as a guest judge. He pledged to match the Innovation Factory’s US$20,000 cash prize from his own funds for each of the three finalists.
As a result, Nearpays leaves Geneva with a total of US$40,000, while fellow finalists Doto Health and Nemocare each received US$20,000 to support the continued development of their AI-powered healthcare solutions.
While the financial award is significant, the recognition extends well beyond the prize money. The AI for Good Innovation Factory provides startups with access to mentorship, strategic partnerships and an international network of investors, policymakers and technology leaders capable of helping innovative solutions reach wider markets.
Nearpays thanked the United Nations, the ITU and the AI for Good initiative for creating a platform where innovators can develop AI solutions that address real-world problems. The company described the win as a milestone not only for the business but also for African innovation, demonstrating that technology developed to solve local challenges can compete successfully on the global stage.
With its first global title secured, Nearpays is now looking to build on that momentum by expanding its digital payment infrastructure across Africa, helping more businesses join the formal economy and strengthening financial inclusion across the continent.
