PayRetailers, a leading payment processor in Latin America, has announced its expansion into eight new African countries, signaling a bold move aimed at increasing financial inclusion across the continent. By entering Burkina Faso, Cameroon, Kenya, Ivory Coast, Ghana, Senegal, South Africa, and Nigeria, the company aims to provide efficient, accessible payment solutions for underbanked populations and tap into Africa’s rapidly growing digital economy.
This expansion adds to PayRetailers’ existing African presence, which began just three months ago with launches in Rwanda, Zambia, Uganda, and Tanzania. The company’s platform now covers 12 African countries, positioning it as a key player in Africa’s financial technology space. For PayRetailers, this is not just geographic growth but a strategic step toward bridging the gap in cross-border payment services, a challenge that has historically hindered the region’s economic potential.
Leveraging Latin American Success for African Markets
PayRetailers’ foray into Africa builds on its success in Latin America, where it has established itself as a trusted partner for online merchants needing seamless payment processing solutions. In Africa, the company plans to leverage its experience in navigating fragmented and underdeveloped payment landscapes to address the unique needs of businesses and consumers.
“Africa is a vibrant and varied continent, with payment preferences that differ from region to region,” said Jonathan Vintner, Global Head of Sales at PayRetailers. “For example, our launch in Kenya enables merchants to access M-Pesa, the country’s leading mobile money provider, while in South Africa, we offer a blend of card and cash solutions to meet local demands. All of this is seamlessly integrated into our existing API, allowing merchants to access the top payment methods across Latin America and now Africa through a single connection.”
This streamlined approach could be a game changer for cross-border online merchants looking to expand into Africa. The company’s unified API simplifies access to a range of local payment methods — such as M-Pesa, Airtel, and MTN — without the need for new integration efforts. This enables businesses to scale quickly across diverse markets, with minimal operational disruption.
Addressing the Underbanked and Promoting Financial Inclusion
A significant portion of Africa’s population remains underbanked or excluded from traditional financial services, despite the region’s high mobile penetration rates. PayRetailers’ entry into these markets is expected to accelerate financial inclusion by giving businesses access to local payment methods that meet consumers where they are, whether through mobile money, bank transfers, or cash-based options.
Africa’s mobile-driven economy presents significant opportunities for businesses and consumers alike. According to GSMA, sub-Saharan Africa will be home to nearly 500 million mobile internet users by 2025. PayRetailers’ expansion aligns with this trend, as it seeks to provide businesses with the tools they need to tap into this growth.
For merchants, the ability to transact efficiently across borders is critical to scaling operations in Africa. PayRetailers’ solutions, which already serve businesses in Latin America, are now poised to meet this growing demand in Africa by offering access to 300+ local payment methods, fostering both regional and international trade.
A Strategic Milestone and Future Growth
The move into eight new African countries marks a significant milestone in PayRetailers’ global growth strategy. The company, founded in 2017, has rapidly expanded its footprint, focusing on markets where financial infrastructure is either nascent or undergoing significant change. By establishing operations in both Africa and Latin America, PayRetailers is positioned to become a key player in emerging markets, providing payment solutions that cater to diverse regional needs.
As the company expands further into Africa and other regions, its scalable technology platform will be essential for adapting to evolving market conditions. “Our own technological architecture is highly flexible and scalable, allowing rapid innovation to meet the demands of constantly evolving markets,” the company noted in a statement.
With plans to extend its reach to more African countries and eventually into Europe, PayRetailers aims to support a wide range of businesses in unlocking new growth opportunities. The company’s emphasis on local payment solutions, combined with a deep understanding of regional market dynamics, places it at the forefront of efforts to improve financial access in underserved regions.
As Africa’s digital economy continues to grow, PayRetailers’ expansion underscores the increasing importance of financial technology in fostering economic inclusion and driving cross-border commerce. The company’s presence in 12 African countries is just the beginning of a broader push to become a leading payment processor on the continent, helping both businesses and consumers benefit from the next wave of digital transformation.