KEY POINTS
- Nearpays has expanded its AI-powered Soft POS system to transform smartphones into payment terminals, specifically targeting energy access and financial inclusion in emerging markets.
- The AI-driven credit layer generates digital trust scores by analyzing transaction patterns, allowing underserved individuals without formal credit histories to finance solar kits and EV battery swaps.
- The system acts as a payment interface for EV charging stations and battery-swapping outlets, using AI to manage grid loads and dynamic pricing.
- Every energy payment made via the Soft POS helps customers build a formal financial history, opening doors to future loans and insurance products.
MAIN STORY
Fintech innovator Nearpays is tackling the double barrier of energy poverty and financial exclusion by turning everyday smartphones into sophisticated point-of-sale terminals. The company’s latest initiative focuses on households and small businesses that struggle with the high upfront costs of renewable energy, such as solar installations and electric vehicle charging. By utilizing Soft POS technology, Nearpays eliminates the need for expensive, specialized hardware.
A village technician or an urban EV station attendant can now accept instant, secure payments directly on their mobile device. CEO Victor Daniyan noted that the goal is to remove the friction between a customer’s pocket and their power supply, ensuring that energy access is no longer a luxury reserved for those with traditional banking access.
A standout feature of the expansion is the AI-driven credit layer. Since many users in informal sectors lack a traditional credit score, Nearpays’ AI analyzes alternative data—such as payment consistency and daily business turnover—to create a digital reputation. This score enables energy providers to offer instant financing for essential products like battery-swapping services or home solar kits.
The system is also being integrated into the electric mobility sector to support sustainable transport. Beyond processing payments, the AI helps station owners predict peak usage periods, which allows for better load management on local power grids and enables dynamic pricing that keeps charging affordable. This initiative eventually creates a cycle where paying for energy helps users build a financial record that supports access to broader economic opportunities.
WHAT’S BEING SAID
- “We are removing the friction between a customer’s pocket and their power supply, ensuring that energy flows as fast as the payment does,” stated Victor Daniyan, CEO of Nearpays.
- “Energy is a fundamental right, but the lack of a flexible, low-cost payment system often makes it a luxury,” Daniyan added.
- “The system allows energy providers to serve more households and enables small businesses to participate in digital transactions,” noted the official company announcement.
WHAT’S NEXT
- Nearpays is expected to launch specific pilot projects in rural regions of West Africa and Southeast Asia to test the AI’s predictive accuracy in real-world settings.
- The company is reportedly in talks with regional solar providers to bundle the Soft POS system directly with pay-as-you-go solar home systems.
- Upcoming updates to the Nearpays app may include a financial health dashboard for users to track their digital trust scores in real-time.
BOTTOM LINE
The Bottom Line is that Nearpays is treating energy data as a financial asset. By proving that a customer can reliably pay for light or transport, the AI Soft POS turns a simple utility bill into a bridge toward formal banking. This technology effectively addresses two of the biggest hurdles in emerging economies—energy access and financial inclusion—simultaneously.
