Author: Norman Frankel, Chief Growth Officer, Stanchion Payments Solutions. Originally published here. I had the pleasure of growing up in Kenya in the 1970s, so every time I return, it always feels special. Of course, the city of Nairobi has changed a lot, and when I send photos back to the office, some in the
Peach Payments, a digital payments gateway, has agreed to acquire West-African payment platform PayDunya. In the process, it will enter mainland Francophone Africa for the first time, following its expansion to Eswatini (2024), Mauritius (2021), and Kenya (2018). Peach Payments is an enterprise-grade payments gateway that enables online payments in Africa for businesses of all
Visa, a global leader in digital payments, has announced strategic investments and commercial partnerships with two fintechs following their 12-week engagement through the Visa Africa Fintech Accelerator program, which enables start-ups to scale through training, mentorship, and networking opportunities. Visa’s investments include Konnect, a fintech based in Tunisia which enables seamless, accessible, and instant payments
By: Pierre Aurel, Chief Product Officer, Stanchion Payments Solution. Originally published here. The number of virtual cards issued worldwide is growing at an unprecedented pace. According to Juniper Research, global virtual card issuance is expected to grow at over 30% annually between 2023 and 2028, driven by relentless consumer demand for seamless, secure and convenient
KCB Bank, the largest financial institution in East Africa, has partnered with Compass Plus Technologies to strengthen its multi-currency offering by launching Kenya’s first platinum multi-currency prepaid card. This card will empower its customers with the flexibility and convenience to pay for goods and access funds across borders. The card allows users to load and
RealPay has strengthened its African footprint through expanded partnerships with leading financial institutions. These collaborations leverage innovative technology to promote financial inclusion and drive seamless payment processes across multiple countries. For more information about RealPay, click here. Founded in 2003, RealPay has pioneered time-sensitive payment solutions throughout the continent, helping businesses of all sizes—from small
Raenest, the global multi-currency accounts platform for individuals and businesses across Africa, today announced the completion of its $11M Series A funding. The round was led by QED Investors, with participation from Norrsken22. Follow-on investment came from Ventures Platform, P1 Ventures, and Seedstars. This equity-based capital injection brings Raenest’s total venture funding to $14.3M. With
SMEs (small and medium enterprises) in Kenya are actively adopting digital payments, leveraging technological advancements, and forming strategic collaborations to enhance growth and resilience, as highlighted in the third edition of the Mastercard SME Confidence Index. With 91% of SMEs in Kenya adopting digital payments, businesses are enhancing efficiency, improving customer experiences, and strengthening financial
Norman Frankel, Chief Growth Officer, Stanchion Payments Solutions. Originally published here. Ethiopia’s capital, Addis Ababa, is home to over 5.7 million people and buzzes with vibrant energy. The government is also driving its digitalisation programme forward as part of its 2025 and 2030 digitalisation plans. With a population of at least 132 million, Ethiopia is
KCB Bank Kenya and UnionPay International (UPI) have partnered to enhance e-commerce payment capabilities in Kenya, enabling UnionPay cardholders to transact seamlessly on digital platforms. This collaboration marks a significant advancement in digital payment capabilities, aimed at enriching the online shopping experience for consumers and merchants across Kenya. “We are delighted to join hands with
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