Africa, traditionally a cash-based continent, is moving towards electronic payments at a startling rate. Though challenging, this transition into the digital economy has unlocked opportunities for businesses in Africa to develop their systems and grow beyond borders.
Pioneering technology, like recurring payments, gives African businesses exponential growth potential; however, aligning a product to suit the needs of vastly differing financial landscapes is crucial to the process.
RealPay’s Luan Cloete, Chief Business Development Officer, comments on how RealPay has taken up the mantle of easing Africa’s transition into the future of digital payments: “It has required RealPay to understand each territory’s payments infrastructure, and how to develop a set of products through the RealPay payments platform.”
“Another key has been establishing physical offices and in-country teams in South Africa, Eswatini, Lesotho, Namibia, Botswana, Zambia and Uganda – and now expanding into Kenya and Ghana with a suite of products tailor-made for each country’s differing conditions.”
When asked how RealPay matches our offering to a company’s specific needs, Cloete responds: “We offer a bespoke payments platform via open APIs. This means that a multinational company operating in several countries does not have to partner and integrate with multiple providers or banks. Further, all our enhancements are done ‘in-house’, which means we had to create an agile development environment for fast and relevant responses to customer needs.”
The recurring payments product, among others, is adapted to fit the financial requirements of not only each country, but also companies operating in each specific industry, from insurers and credit providers to subscription payments requirements in education, entertainment and fitness.
Developing multinational companies
RealPay enables sustainable growth by giving a company the right products so that it can thrive in the digital economy.
Our multinational footprint in Africa provides a payments springboard for companies wanting to extend beyond their borders. Having a sound and established payments partner eliminates major friction for companies entering new territories.
RealPay eases the transition over borderlines for clients in various industries by providing a reliable, multinational platform.
Cloete concludes: “We have been providing world-class FinTech solutions since 2003, and after 20 years of operating we can truly assert, it’s in our blood!”