PayRetailers, a digital payment solutions company based in Spain, recently announced its expansion into Africa. Already well established in Latin America, the company is now expanding its services to eight new African markets: Algeria, Ghana, Ivory Coast, Kenya, Mozambique, Senegal, Tanzania and Uganda. This move aims to meet the growing demand for efficient payment solutions on a continent undergoing a digital transformation.
Africa is experiencing a surge in e-commerce, but the diversity of local payment methods and the lack of infrastructure adapted to cross-border transactions pose significant challenges for businesses. In response, PayRetailers seeks to simplify these transactions by integrating local payment methods, allowing businesses to more easily access African markets while meeting consumer preferences.
The expansion strategy echoes a global trend where tech companies are pushing to penetrate the African market, which is seen as a new El Dorado for digital commerce. According to experts, the digital payments sector in Africa is set to grow exponentially over the next decade, with the rise of local fintechs and the increasing adoption of mobile payments. PayRetailers, by positioning itself as a key player in this market, hopes to capitalize on this momentum to accelerate its global growth.
The company also announced partnerships with local banks and regulators to ensure compliance with each country’s regulations and ensure transaction security. With this expansion, PayRetailers strengthens its position as a payments facilitator in developing regions, while consolidating its role in the global e-commerce ecosystem.
