SA: Street Wallet Acquires Tipping Startup Digitip to Drive Financial Inclusion for Informal Workers

South African fintech Street Wallet has announced the acquisition of Digitip, a tipping startup founded in 2023 to enable informal workers and service providers to receive digital tips securely. The deal marks a significant step in expanding digital financial solutions for informal traders, particularly in KwaZulu-Natal and across South Africa.

Digitip’s integration into Street Wallet’s ecosystem is expected to deliver faster payments, lower transaction costs, and enhanced user experience for workers and traders who traditionally rely on cash. According to Digitip founder Monica Nilsen, the partnership is “a game-changer” for users, offering daily payouts, reduced fees, and a more robust digital platform.

Launched in 2021 by Kosta Scholiadis, Street Wallet provides a mobile-first payment platform tailored for informal traders who often operate outside of the traditional banking system. The platform enables cashless transactions without requiring a bank account or additional hardware. Customers can pay using Apple Pay, Samsung Pay, SnapScan, Zapper, or Scan-to-Pay, with vendors receiving instant SMS confirmations. By the next morning, earnings are converted into Standard Bank Instant Money Vouchers, redeemable at ATMs or partner retail outlets.

The acquisition follows Street Wallet’s successful $350,000 fundraising round last month, aimed at scaling operations and deepening market penetration. Commenting on the development, Stephen Britto, Chief Operating and Finance Officer at Street Wallet, said the merger will strengthen efforts to make transactions seamless while creating affordable fee structures that improve financial access for informal traders.

Industry analysts note that the deal underscores the growing role of fintech in bridging financial inclusion gaps, particularly for South Africa’s large informal economy. By combining Street Wallet’s payments infrastructure with Digitip’s tipping technology, the companies aim to provide a secure, cashless alternative that empowers traders to better manage and grow their businesses.

As informal workers face persistent challenges in handling cash and accessing formal financial services, the acquisition positions Street Wallet as a key player in advancing digital financial inclusion in South Africa.