A payment infrastructure provider serving remittance companies and businesses FINCRA, has obtained a Third Party Payments Provider (TPPP) licence in South Africa. This licence enables Fincra to process key local payment methods including debit and credit card transactions, electronic funds transfers (EFTs), real-time clearing (RTC), and rapid payments.
The licence supports Fincra’s goal to expand its cross-border payment infrastructure and deepen its presence across Africa through multiple payment channels. In South Africa, Fincra competes with fintech startups like Yoco, Ozow, and Peach Payments, offering similar payment services.
“Securing the TPPP licence in South Africa is a major milestone toward building an integrated Africa,” said Ayowole Ayodele, CEO and Co-founder of Fincra. “It reinforces our commitment to providing compliant, reliable infrastructure that powers cross-border trade at scale. We’re excited about the opportunities this opens for businesses across the continent.”
The licence gives Fincra’s clients including e-commerce platforms, logistics providers, B2B marketplaces, and travel companies access to faster settlements, improved reliability, and full compliance with South Africa’s stringent financial regulations.
Emmanuel Babalola, Fincra’s Chief Commercial and Growth Officer, described the development as a “game-changer for businesses looking to expand or operate in the region, and a clear sign of Fincra’s continued focus on enabling customer growth.”
This regulatory achievement comes three months after the appointment of former Bundle CEO Emmanuel Babalola to the growth role. Fincra’s progress is bolstered by partnerships with Tier-1 banks and its innovative suite of APIs, which enable businesses to collect payments globally and make payouts locally. The company is actively expanding across Ghana, Kenya, Uganda, the UK, Europe, and North America.