SommaRedde

Payments infrastructure for the cash economy.

SommaRedde is a payments infrastructure company. We build and operate the rail on which digital wallets run, for enterprises, merchants and consumers, clearing every transaction across a single cloud platform, with cash in and cash out through the banking system. The rail is neutral by design. It competes with no bank and no brand, and every participant clears on equal terms.

The ecosystem: several branded wallets, each with its own sponsoring bank and float, all clearing across one platform that settles into the national payment system.
Many wallets, each with its own sponsoring bank, one interoperable platform.
22Central payment infrastructures running on the platform SommaRedde licenses.ProgressSoft, as published
380+Financial institutions on the same software, in 26 countries.ProgressSoft, as published
2001The first countrywide electronic cheque clearing system in the world, built on these engines.ProgressSoft, as published

Built with ProgressSoft. Licensed to SommaRedde.

The platform is built with ProgressSoft, a payments technology provider operating since 1989 whose systems run national payment infrastructure for central and commercial banks. SommaRedde holds the licence to operate this infrastructure in South Africa, where the operating company, SommaRedde South Africa (Pty) Ltd, is preparing the first deployment.

The cloud platform above those engines is SommaRedde's own intellectual property, with worldwide exclusivity. The partnership was concluded in 2017 and the cloud platform completed in 2019.

SommaRedde: from the Latin summa, the sum, and reddere, to render.

Every sum, rendered.

hansvl@sommaredde.com