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

African payment infrastructure provider, Fincra, has successfully obtained a Third-Party Payment Provider (TPPP) licence in South Africa, marking a significant step towards enhancing cross-border payment solutions across the continent. With this regulatory approval, Fincra is now set to offer its streamlined Pay-In and Pay-Out services to South African businesses, enabling more efficient and secure financial transactions.

Wole Ayodele, CEO and Co-Founder of Fincra, highlighted the strategic importance of entering South Africa’s market, citing its potential for growth and economic influence. “South Africa has always been a key market for us, and we are thrilled to bring our innovative payment solutions to support its business landscape,” Ayodele commented.

As Africa’s largest economy, with a GDP of $373 billion, South Africa presents diverse opportunities across industries such as manufacturing, mining, and tourism. The TPPP licence allows Fincra to serve registered and pre-approved businesses, offering a wide range of payment options, including card payments and other digital solutions.

Fincra’s expansion into South Africa is part of its overarching strategy to establish a robust, continent-wide payment infrastructure. By complying with local regulations, Fincra aims to empower businesses to process payments swiftly, securely, and in alignment with regulatory standards, further simplifying value transfers throughout Africa.