Nearpays received a $20,000 award from Innovation Factory. The award also provided access to a global network of investors, policymakers, researchers, and industry partners aimed at accelerating the deployment of AI solutions that deliver social impact.
near pay, The AI-powered fintech company, focused on expanding financial inclusion across Africa, was named the winner of the AI for Good Innovation Factory 2026 at the AI for Good Global Summit in Geneva.
The victory ended a year-long global competition organized by the International Telecommunication Union (ITU). will feature monthly themed startup pitch sessions and regional chapters across multiple continents, before narrowing the field to 12 semi-finalists and ultimately selecting the winner in a grand finale.
Nearpays received a $20,000 award from Innovation Factory. The recognition also provided access to a global network of investors, policymakers, researchers, and industry partners aimed at accelerating the deployment of AI solutions that deliver social impact.
Sponsored by ITU, the AI for Good Innovation Factory will serve as the United Nations’ startup pitching and acceleration platform, supporting AI ventures that address critical global challenges in areas such as healthcare, climate change, financial inclusion, accessibility, education, and agriculture.
The 2026 competition focused on identifying startups developing practical and responsible AI solutions that can have a measurable impact in the real world.
Nearpays was recognized for its AI-powered SoftPOS platform. This allows a regular smartphone to act as a payment acceptance device, eliminating the need for a traditional POS terminal. 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.
The platform aims to improve access to credit and increase participation in the formal digital economy by enabling merchants who previously relied solely on cash transactions to build digital financial records.
The awards ceremony featured an unexpected announcement from musician, entrepreneur, and AI for Good advocate will.i.am, who joined the jury as a guest judge during the grand finale. He personally promised three finalists the $20,000 Innovation Factory prize.
As a result, Nearpays will leave Geneva with a total of $40,000 in prize money, while finalists Doto Health and Nemocare, both developing AI-powered healthcare solutions, each received $20,000 through will.i.am donations.
The AI for Good Innovation Factory aims to connect promising AI startups with governments, investors, international organizations, and technology partners to help transform innovative solutions into scalable technologies that address global development challenges.
