The news:
- PayRetailers, a fintech company from South America, has expanded its payment processing services into eight additional African countries: Nigeria, Kenya, Ghana, Burkina Faso, Cameroon, Senegal, South Africa, and Ivory Coast.
- This expansion follows the startup’s earlier launch in Rwanda, Zambia, Uganda, and Tanzania three months ago, deepening its presence in Africa with its footprint cutting across 12 markets. The payment platform is looking to enter into more countries.
- The expansion aligns with PayRetailers’ ambition to tap into Africa’s burgeoning financial market and support financial inclusion. The payment platform is looking to enter into more countries.
Furthermore, the move is a significant step forward in its global growth strategy, as it aligns with the fintech's long-term goals of expanding into Europe and other markets. With its expertise in Latin America, the company hopes to leverage it to meet the unique demands of African consumers and businesses.
Jonathan Vintner, Global Head of Sales at PayRetailers, emphasised the strategic importance of entering these new markets, noting, “Africa is a vibrant and varied continent, with payment preferences that differ from region to region.”
The fintech described its expansion into the eight new markets as a significant milestone that underscored its mission to bring tailored payment solutions to diverse regions.
Vintner claims that PayRetailers’ launch in Kenya enables local merchants to access M-Pesa, the country’s leading mobile money provider. In South Africa, the fintech provider offers a blend of card and cash solutions to meet local demands.
All these features are seamlessly integrated into the company’s existing API, allowing merchants to access the top payment methods across Latin America and Africa through a single connection.
Juan Pablo Jutgla founded PayRetailers in 2017. It specialises in offering businesses access to over 300 local payment methods via a unified API, with services that allow cross-border online merchants to integrate payment solutions seamlessly.
The company's entry into Africa aims to address the financial challenges of the underbanked population, offering mobile and online payment solutions. With platforms like MPESA, Airtel, and MTN, PayRetailers provides vital tools for businesses to reach new consumers in a region where mobile payments are rapidly becoming the norm.
The fintech sees this expansion as a game-changer for merchants who rely on cross-border commerce, as it enables businesses to unlock growth opportunities in emerging markets without the need for complex integrations.
