Peach Payments is a startup that provides payment solutions to online and mobile businesses enabling them to easily accept payments from consumers across the globe and especially from those in the emerging markets. Their specific focus is on Africa and the BRIC countries where the local infrastructure requires a unique and tailored approach to online payments.
They provide access to all relevant payment methods including credit/debit cards, bank transfers, mobile wallets, electronic wallets and mobile operator billing to help them succeed in the emerging markets and currently offer payments solution in Europe and South Africa directly and in Brazil and Turkey through their partners.
This FinTech startup recently launched a payments solution called PaySafe, and announced their intention to expand to three African countries – Nigeria, Kenya and Namibia.
According to one of the founders, Rahul Jain, “Our solutions address the pain points of traditional payment methods and are geared to the realities of the African market. One of the biggest challenges businesses in emerging economies face is that traditional online payment systems in Europe and the United States were developed in and for these markets. Despite there being many players in the payments solutions space, the dire need for advanced payment platforms in developing countries presented us with a tremendous opportunity.
”Peach Payments currently processes about R1 billion in transactions per year. With PaySafe, businesses who aren’t online can receive payments by mailing customers/clients a link they can click and pay online. These businesses don’t have to worry about integration and PaySafe is customisable.
Rahul goes on to say that, “Peach PaySafe allows users to improve their cash flows and dramatically reduce administrative costs associated with collecting payments whilst making the transaction much safer. Our insight into our home market has allowed us to create a payment system that works smoothly for mobile and online merchants and their customers and now for non online business, and to develop allied products that solve real pain points.”
Talking about Peach Payments’ expansion to other African countries, Rahul said, “Going forward, ‘mobile first’ is our mantra. The number of people in emerging markets that are accessing theInternet using mobile devices is escalating at an extraordinary rate.”
Already over 200 South African merchants use Peach Payments. We are hoping they meet a receptive market in Nigeria, Kenya and Namibia.