South African fintech startup Peach Payments has announced its expansion to Nigeria and Kenya.
The company, which was launched just three years ago, also revealed that it is now processing over ZAR1bn in transactions per year.
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The startup recently also disclosed that it recently launched a new offering, dubbed PaySafe. It allows businesses that aren’t online such as freelancers to email a link to clients to pay them online.
The new platform has already processed transactions worth ZAR1m, the company said.
Peach Payments co-founder Rahul Jain said: “Peach PaySafe allows users to improve their cash flows and dramatically reduce administrative costs associated with collecting payments whilst making the transaction much safer.
“Our solutions address the pain points of traditional payment methods and are geared to the realities of the African market. One of the biggest challenges businesses in emerging economies face is that traditional online payment systems in Europe and the United States were developed in and for these markets. Despite there being many players in the payments solutions space, the dire need for advanced payment platforms in developing countries presented us with a tremendous opportunity.”
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By GlobalData
