MyGate Launches Services in Kenya

MyGate, a secure payment processing provider for global payments, is expanding their payment processing services into Kenya.

MyGate currently offers processing services in South Africa and Mauritius and will begin operations in Kenya by the end of 2013. They have seen revenue grow by 22% in the last 6 months in the current markets they operate in and their goal is to grow total revenue by 18% in other African markets. MyGate has said it is looking to expand operations in those African countries where the internet penetration rate is high and where there are more than 5 million people who are actively using alternative payment methods.

Providing localised payment methods for multiple customer demographics across African Regions is important for merchants wanting to sell product and services into Africa. Many of the local consumers don’t have access to card but do have access to internet and therefore can’t purchase products and services if local payment methods are not offered. Being based in the country gives MyGate the unique position of offering popular local payment methods to global merchants.

Glen Ross, Sales Director at MyGate says, “MyGate has the ability to give global merchants an opportunity to gain access to local African markets, using local payment methods and a local payment service provider.”

MyGate will fuel this expansion with a blended approach. They will be working with alternative and mobile payment solutions (such as M-Pesa) and established payments card associations to form unique solutions which can be tailor made to suit the needs of the various African markets.

MyGate also offers a wide range of payment solutions to any company that requires recurring billing including, telcos, insurance houses, government departments and global scale multinationals that are looking to expand into Kenya and other African markets.

With a population of 1 billion in Africa, says Ross, global merchants want to expand products and services into this emerging market. “It makes sense for merchants to partner with a local payment processor and that is where MyGate is uniquely positioned”.