A payment aggregator allows businesses to accept different types of digital payments such as cards, mobile wallets and bank transfers through a single platform without the need for multiple direct integrations. They are widely recognized for their convenience and scalability.
In Sierra Leone, we were entrusted with the task of designing a payment and settlement engine, which led to the creation of Smart Korpor. This fintech-powered solution provides establishments with the full capabilities of a bank, enhancing revenue collection and minimizing leakages. Smart Korpor has since been adopted by both the public and private sectors in 2022.
•Public Sector
Smart Korpor was first piloted in two major government bodies:
√National Revenue Authority (NRA): Responsible for assessing and collecting domestic taxes, customs duties and other revenues. Government Ministries, Departments and Agencies (MDAs) submit their collections to the NRA.
√Sierra Leone Road Safety Authority (SLRSA): Regulates and develops the road transport industry, including driver registration and licensing. Since payments were traditionally processed through banks, Smart Korpor was integrated into their systems to enable seamless online payments.
•Private Sector
In the private sector, Smart Korpor was integrated into multiple businesses, enabling them to receive and disburse funds across various channels without the burden of managing separate float accounts.
Smart Korpor has transformed how citizens in Sierra Leone engage with financial transactions, offering easy access, transparency and convenience. By consolidating multiple payment options into a single platform, it has streamlined processes and improved efficiency.
Today, with over 190,000 users and more than 428,000 applications processed, Smart Korpor continues to deliver convenience and transparency in revenue collection across the country.