Nigerian artificial intelligence fintech startup Nearpays has made history by becoming the first African startup to win the United Nations’ AI for Good Innovation Factory Grand Finale, earning global recognition for its innovative AI-powered payment technology.
The landmark victory was announced during the AI for Good Global Summit 2026 in Geneva, Switzerland, where Nearpays outperformed more than 500 startups from around the world to claim the prestigious title. The competition, organised by the International Telecommunication Union (ITU) under the United Nations’ AI for Good initiative, showcases startups developing artificial intelligence solutions to address pressing global challenges.
Nearpays secured its place in the global finals after winning the African regional competition in Johannesburg before advancing through the semi-finals to emerge overall champion.
At the heart of the company’s success is its AI-powered SoftPOS platform, which transforms compatible Android smartphones into payment terminals, allowing merchants to accept contactless card payments without the need for expensive point-of-sale devices. The solution also provides AI-driven fraud detection, compliance support, business insights, and offline payment capabilities, making digital payments more accessible for small businesses and informal merchants across Africa.
The innovation is expected to strengthen financial inclusion by helping underserved businesses build digital transaction histories that can improve access to credit and other financial services, while accelerating the adoption of cashless payments across the continent.
As part of the award, Nearpays received a $20,000 cash prize, which was matched by entrepreneur and musician will.i.am, bringing the company’s total prize money to $40,000. The additional funding will support the startup’s continued expansion and innovation.
Industry experts say the achievement underscores Nigeria’s growing influence in the global AI ecosystem and demonstrates that African-built technologies can compete successfully on the world stage. The recognition is also expected to attract new investment opportunities, strategic partnerships, and international visibility for Nigeria’s rapidly expanding innovation ecosystem.
