Home » Blu Pengiun Crowned Fastest Growing Fintech in Ghana
Africa Business Economy General News Ghana Global News News

Blu Pengiun Crowned Fastest Growing Fintech in Ghana

Ghana’s leading in-store payments service provider, The Blu Penguin has been adjudged the Fastest Growing Fintech in the country at this year’s Ghana Business Standards Awards.

The Ghana Business Standard Awards (GBSA), held on at the plush Movenpick Hotel under the theme “Celebrating Organizations Committed to Remarkable Business Standards Geared Towards Sustainable Growth”, was to celebrate organizations committed to remarkable business standards in their sectors and industry leaders breaking barriers of excellence across the Ghanaian business region and the world at large.

The Blu Penguin was among several firms and individuals who walked away with laurels on the night. Its award hinged largely on the performance of its flagship and game-changing in-store payments solution, BluPay, which is currently the most widely used and most recommended product by merchants and banks in the country.

The citation that came along with the award read that “This award is in recognition of BluPay’s widespread footprint nationwide and the mix of merchants from multi-national enterprises to local SMEs all of which are benefitting from BluPay in-store collection services.”


BluPay is an application that empowers businesses/merchants to effortlessly accept payments through mobile money and cards from their valued customers.

The app has successfully integrated various local mobile money networks like MTN Momo, Vodafone Cash, AT Money, and even ZeePay to seamlessly enable payments to merchants. It also extends its functionality to accommodate Visa, Mastercard, and contactless ( tap an pay) transactions, ensuring a wide range of payment options.

BluPay is designed for installation on POS devices or smartphones to streamline the payment process. The app is compatible with both iOS and Android devices, which ensures that no matter the platform, the app can provide all merchants with a seamless payment experience.

Currently, over three (3) million Ghanaians have transacted on The Blu Penguin’s platforms (particularly BluPay) representing 10% of Ghana’s population and growing.

Founder and CEO of Blu Penguin, Tenu Awoonor said Blu Penguin’s exceptional growth, innovation, and substantial impact on merchant businesses over the past few years, particularly through BluPay, has been instrumental in its achievements.

“We truly understand the needs of business owners and how to solve their problems and safeguard their funds. With BluPay, our merchants “Never Miss a Sale” and that’s a mantra we live by,” he said.

Tenu Awoonor, affectionately called the BluMan, stated that the user-friendly nature of the BluPay App, enables cashiers to swiftly adopt the system and commence accepting payments without hassle, adding that the app’s remarkable capability to seamlessly integrate all payment channels into a single app makes it convenient for merchants.

Additionally, business owners utilizing the BluPay app enjoy access to a dedicated portal. The portal enables business owners to monitor transactions in real-time from anywhere in the world even if they are not in the store.
“Again, our merchants receive their transacted funds on time everyday without fail, ensuring they have adequate capital to run their businesses withous worries,” Awoonor said.

Payment links, APIs, ShopKeeper, Dashboard

In addition to BluPay, the company also provides payment links and API integration solutions tailored for online stores, enhancing their payment capabilities.

Again, the company has a sales and inventory management app known as ShopKeeper, which allows any seller to track all their sales and inventory in real-time right on their smartphone device.

“No need to purchase expensive systems, simply download it from the Play Store,” the CEO said.

The company also provides banks with a Transaction Management Dashboard, which allows them to monitor, control, and update the terminals within their network in real-time as well as identify and troubleshoot faulty terminals remotely.

Apart from Ghana, the company also has footprints in Cote d’Ivoire and DR Congo, where it is planning to start full operations soon.

The Future

In terms of what the future holds, Tenu Awoonor said “Our focus is directed towards strengthening our presence in Swipe4Cash within Ghana.”

He explained that “Swipe4Cash represents a service where we provide agents with the means to facilitate quick cash availability for individuals holding bank cards. It’s a way for agents to earn extra income and also provide convenience to areas where ATMs are not readily available.”

The CEO said the company is also planning to provide an open API that allows diverse B2B fintech services to seamlessly integrate, so companies can build their own customized financial solutions easily.

“As a company, it is our mission to see the businesses that use our services grow and scale. We are currently working on a credit financing scheme for merchants. With this, they can scale their businesses to the next level,” he stated.

The Blu Penguin is a Licensed Payment Services Provider (PSP) that specializes in providing in-store payment services such as POS, payment links, and USSD for merchants that simplify the collection of payments through a single App connected to all providers.

The company specializes in digital solutions that improve the sales and collection process for business owners so they can be reassured that their funds and inventory are secure and that sales are properly reconciled in real time even if the business owner is away.

The Blu Penguin was founded by its CEO, Tenu Awoonor, who was a onetime CMO at Tigo, then a VP of Strategy at Airtel Nigeria covering West Africa. The company officially launched and came to market in 2018.

Ghana Business Standard Awards

Ghana Business Standards Awards brought together business players and recognized local and international companies meeting business standards involved in various sectors. The intent is to propel outstanding organizations, products, and services meeting local and international standards through high media coverage.

The awards scheme is also designed to reward industries, businesses, and individual that adhere to local business standard requirements and set an exemplary standard for both local and international businesses, while encouraging various organizations to strive to meet local and international standards in their delivery of service.

Tenu Awoonor (4th from left), Founder and CEO of Blu Penguin and his team receiving the award

Source : Ghana Web