Fincra Secures Third Party Payment Provider Licence in South Africa, Expands Payment Solutions for Businesses

African payment infrastructure provider, Fincra, has received a Third Party Payment Provider (TPPP) licence in South Africa, marking a major milestone in its mission to simplify value transfers across Africa. With this new regulatory approval, Fincra is set to extend its seamless Pay-In and Pay-Out solutions to South African businesses, enabling efficient cross-border transactions.

Wole Ayodele, Fincra’s CEO and Co-Founder, expressed excitement about entering the South African market, noting its strong potential for growth. “We have long recognised South Africa as an ideal market for us, and we are excited to contribute with our innovative payment solutions,” Ayodele said.

South Africa’s economy, the largest in Africa with a GDP of $373 billion, provides diverse opportunities across sectors like manufacturing, mining, and tourism. The TPPP licence enables Fincra to offer its services to registered and pre-approved South African businesses, providing access to a range of payment methods including card payments.

Fincra’s entry is part of its broader strategy to build a continent-wide payment infrastructure, ensuring compliance with local regulations and empowering businesses to process payments swiftly and securely.

Credit: Tech Point