4 FinTechs simplifying payments acceptance for merchants in Africa

By Gloria Methri

The FinTech ecosystem in Africa is undergoing rapid transformation, particularly in the area of digital payments. With a growing emphasis on financial inclusion and the continent’s largely unbanked population, FinTech companies are stepping in to bridge the gap by offering innovative solutions to simplify merchant payment acceptance.

The digital payment user base in Africa is projected to reach 611 million by 2027, with the rise of mobile money platforms and the increasing adoption of contactless payments significantly contributing to this growth. As cash-reliant economies like Nigeria shift toward digital solutions, the demand for efficient, secure, and affordable payment systems is driving FinTech innovations across the continent.

Here’s a closer look at 4 FinTech companies simplifying payment acceptance for merchants in Africa

• Airbuy

Airbuy offers an alternative payment solution designed for e-commerce platforms. It allows merchants to accept payments without requiring customers to enter their sensitive banking details, ensuring privacy and security during transactions. This innovation is particularly beneficial in markets where trust in online payments is still developing. Airbuy is designed to support merchants in tapping into a growing online customer base by offering a secure and user-friendly payment process.

• Lipa Payments

Lipa Payments has emerged as a go-to solution for enabling small merchants to accept digital payments without traditional hardware. By utilizing NFC and Bluetooth technology, Lipa offers a seamless payment experience for merchants and customers alike. It allows for contactless transactions that align with the increasing preference for digital wallets and mobile payments in Africa. Lipa partners with banks and FinTech companies to integrate its system, making digital payments accessible to micro and small businesses.

• Nomba

Nomba is an all-in-one payment platform that helps businesses simplify their operations. It offers tools for payment acceptance, business management, and financial tracking, providing an ecosystem where merchants can handle everything from daily transactions to operational tasks. With Nomba’s solutions, businesses can accept payments via cards, mobile wallets, and QR codes, making it a versatile option for merchants in Africa’s bustling digital payment landscape. The company’s goal is to drive efficiency and transparency for its users while fostering financial inclusion.

• Sureswipe

Based in South Africa, Sureswipe provides a comprehensive suite of payment services for businesses, including point-of-sale (POS) systems and payment processing. It allows merchants to accept card payments, issue digital receipts, and manage loyalty programs, all while ensuring secure transactions. In addition to payment acceptance, Sureswipe’s platform includes features for customer relationship management, enabling merchants to build long-term loyalty. As businesses in South Africa increasingly embrace digital financial services, Sureswipe aims to make these tools more accessible for small and medium enterprises.