Summary: Acefit Sidai Smart Devices Ltd , an active participant in FasterCapital’s EquityPilot program, is reporting progress on integrating NFC contactless payments into its point-of-sale…
Nairobi, Kenya & Dubai, UAE
Acefit Sidai Smart Devices Ltd, an active participant in FasterCapital’s EquityPilot program, is reporting progress on integrating NFC contactless payments into its point-of-sale and IoT devices tailored for the Kenyan and broader African markets. The company has signed a memorandum of understanding with a prominent Kenyan bank (part of a larger financial group headquartered in a neighboring country) following a successful proof-of-concept and is preparing to finalize a commercial agreement in the coming days.
With ongoing support from FasterCapital through EquityPilot, Sidai Smart Devices is focusing on finalizing bank integration, certification, and operational readiness to deploy NFC-enabled devices for local payment flows.
What the Startup Delivers?
Acefit Sidai Smart Devices Devices is developing NFC-enabled hardware and firmware that can accept contactless card and tokenized bank transactions through local issuer integrations. The solution is designed to operate within local banking corridors and compliance frameworks, enabling merchants to accept contactless payments without relying on global wallet providers that have limited availability in the region.
Current FasterCapital Support
FasterCapital continues to provide ongoing support during this phase, including:
– Milestone planning and execution follow-up to track the bank integration process
– Fundraising readiness support and pitch refinement as commercial talks progress
– Introductions to relevant ecosystem stakeholders and payments specialists
– Strategic prioritization and market positioning guidance for deployment in Kenya and neighboring markets
Current Execution Priorities
Acefit Sidai Smart Devices’ current priorities are focused and practical: complete technical integration with the bank’s acquiring infrastructure, obtain required certifications, finalize commercial terms, and prepare operational processes for device provisioning and merchant onboarding. The team continues device firmware validation and security testing as part of the bank acceptance process.
Leadership Comment
“Hesham Zreik, Founder and CEO of FasterCapital, said: ‘We’re pleased to continue supporting Sidai Smart Devices Ltd through EquityPilot. Our team is focused on current execution priorities, milestone tracking, and connecting the startup with relevant ecosystem stakeholders as it advances.’”
Next 90 Days
Over the next 90 days Sidai Smart Devices plans to finalize the bank agreement, complete certification steps, and begin limited operational roll-out with pilot merchants. Parallel workstreams will continue on device provisioning, security hardening, and merchant support processes under ongoing FasterCapital guidance.
About Sidai Smart Devices Ltd
Sidai Smart Devices Ltd develops NFC-enabled payment and IoT hardware designed for markets in Kenya and across Africa. The company focuses on integrating device-level payment acceptance with local banking systems to provide practical contactless solutions for merchants and service providers. Sidai’s approach emphasizes compatibility with local payment rails, regulatory compliance, and operational simplicity for merchant adoption.
About FasterCapital
FasterCapital works with founders to turn plans into disciplined execution through milestone-based support, hands-on guidance, and improved fundraising readiness. With programs including EquityPilot, FasterCapital helps startups sharpen positioning, clarify priorities, and connect with relevant ecosystem stakeholders as they grow.
