Fincra, a payment infrastructure provider enabling businesses, fintechs, and financial institutions to collect payments globally and make payouts via its API, has secured a South African Payment Provider License (TPPP) in collaboration with Nedbank.
“We’re proud to announce that we’ve secured our Payment Provider license in South Africa, in collaboration with Nedbank,” the firm announced. “This significant milestone strengthens our presence in Southern Africa and brings us closer to realizing our mission of building the rails for an integrated Africa.”
The license will allow Fincra to process Credit Card payments, Debit Card payments, EFT (Electronic Funds Transfer) Credits, Real-Time Clearing (RTC) and Rapid Payments.
Fincra added that the move reinforces its ability to facilitate seamless, secure, and compliant financial transactions for businesses operating within and across South Africa.
“It’s a pivotal step in our mission to build the financial rails for an integrated Africa, one where businesses can move money simply, quickly, and across borders without friction,” said the firm adding that, the development is more than just a regulatory win as the firm is now able to integrate directly with South Africa’s core payment systems and banks.
“This gives businesses using our infrastructure faster settlement times, greater reliability, and the assurance of full compliance with South Africa’s regulatory standards,” the statement added.
Fincra helps businesses that want to scale across borders whether they are in e-commerce, logistics, B2B marketplaces, or travel. Via its API or platform, firms launch remittance products, automating payroll, or expanding into new African markets becomes effortless. We’re building the rails that power trade, innovation, and scale across the continent.
Recently, Fincra launched the Afincran initiative to unite and empower innovators, entrepreneurs, and builders across Africa. According to the firm, the Afincran movement is a call to action for Africa’s change-makers as it seeks to create a network of visionaries from payments, agriculture to healthcare, education, technology, arts, and sports—all working together to reshape Africa’s future.
Earlier in the year, Fincra appointed Emmanuel Babalola as it new Chief Commercial and Growth Officer. The former Binance executive, Babalola was led the efforts of Binance scaling across more than 40 markets in Africa and the Middle East and he had earlier co-founded and led Bundle, a social payments app for cash and crypto with over a million users.
He was also the visionary behind Cashlink, a peer-to-peer network redefining Stablecoins use in Nigeria.