Fincra gets South African payments licence to deepen African reach

Fincra, a payment infrastructure provider that serves remittance companies and businesses, has obtained a Third Party Payments Provider (TPPP) licence in South Africa, allowing the company 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 aligns with Fincra’s ambition to expand its cross-border payment infrastructure and deepen its footprint across the continent through multiple payment rails. In South Africa, Fincra competes with other fintech startups, such as Yoco, Ozow, and Peach Payments, offering similar services.

“Securing the TPPP licence in South Africa is a significant step toward realising our mission to build the rails for an integrated Africa,” said Ayowole Ayodele, CEO and Co-founder of Fincra. “It reinforces our commitment to building 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, greater 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 strong signal of Fincra’s continued focus on enabling growth for our customers.”

This regulatory milestone comes three months after the company appointed former Bundle CEO Emmanuel Babalola as chief commercial and growth officer. Fincra’s regulatory progress is complemented by its partnerships with Tier-1 banks and its innovative suite of APIs, which enable businesses to collect payments globally and make payouts locally. The company has processed over $10 billion in transactions since 2023 and continues to expand its reach across Ghana, Kenya, Uganda, the UK, Europe, and North America.

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