African Fintech Nearpays Earns Global AI for Good Innovation Award
Nearpays received the Innovation Factory's $20,000 cash prize, with the recognition also providing access to a global network of investors, policymakers, researchers and industry partners aimed at accelerating the deployment of AI solutions for social impact.
Nearpays, an AI-powered fintech company focused on expanding financial inclusion across Africa, has been named the winner of the AI for Good Innovation Factory 2026 at the AI for Good Global Summit in Geneva.
The victory concludes a year-long global competition organised by the International Telecommunication Union (ITU) , which featured monthly thematic startup pitching sessions and regional chapters across multiple continents before narrowing the field to 12 semi-finalists and ultimately selecting the winner during the Grand Finale.
Nearpays received the Innovation Factory’s $20,000 cash prize, with the recognition also providing access to a global network of investors, policymakers, researchers and industry partners aimed at accelerating the deployment of AI solutions for social impact.
Organised by the ITU, the AI for Good Innovation Factory serves as the United Nations’ startup pitching and acceleration platform, supporting AI ventures addressing critical global challenges in areas including healthcare, climate, financial inclusion, accessibility, education and agriculture.
The 2026 competition focused on identifying startups developing practical, accountable AI solutions capable of delivering measurable real-world impact.
Nearpays was recognised for its AI-powered SoftPOS platform, which enables ordinary smartphones to function as payment acceptance devices, removing the need for traditional point-of-sale terminals. The solution is designed to help small businesses and informal merchants accept digital payments while using AI to automate payment operations and generate business insights.
By enabling merchants that previously relied solely on cash transactions to build digital financial records, the platform aims to improve access to credit and increase participation in the formal digital economy.
The awards ceremony featured an unexpected announcement from musician, entrepreneur and AI for Good advocate will.i.am, who joined the judging panel as a guest judge during the Grand Finale. He pledged to personally match the Innovation Factory’s $20,000 prize for each of the three finalists.
As a result, Nearpays will leave Geneva with a total of $40,000 in prize funding, while fellow finalists Doto Health and Nemocare, both developing AI-powered healthcare solutions, each received $20,000 through will.i.am’s contribution.
The AI for Good Innovation Factory aims to connect promising AI startups with governments, investors, international organisations and technology partners, helping transform innovative solutions into scalable technologies that address global development challenges.
