Peach Payments, a fintech startup that makes customer payments to online merchants seamless and secure, is now processing more than R1-billion in transactions per year and expanding into Kenya and Nigeria with plans for other African countries. By Staff Writer
The business started trading in South Africa just three years ago.
This month it launched a new offering, PaySafe, which has already processed transactions worth R1-million, and will change how businesses collect invoices and payments globally.
Peach PaySafe is ideal for businesses that are not online but still want an online payment facility. SMEs such as freelancers, professionals and tour operators, for instance, can simply email clients who will be able to click and pay online. No integration is required, the service is safe and easy, and merchants can customise it with their logo.
Co-founder Rahul Jain says, “Peach PaySafe allows users to improve their cash flows and dramatically reduce administrative costs associated with collecting payments whilst making the transaction much safer.”
“Our solutions address the pain points of traditional payment methods and are geared to the realities of the African market. One of the biggest challenges businesses in emerging economies face is that traditional online payment systems in Europe and the United States were developed in and for these markets. Despite there being many players in the payments solutions space, the dire need for advanced payment platforms in developing countries presented us with a tremendous opportunity.”
Peach Payments allows businesses to accept payments across all channels – website, mobile sites and mobile apps (iOS, Android, etc.). It gives them access to all payment methods including credit/debit cards, bank transfers, mobile wallets, electronic wallets and mobile operator billing.
Peach Payments is a gold member of AlphaCode, a Rand Merchant Investments (RMI) club for fintech startup entrepreneurs.
Peach Payments also provides merchants with access to an advanced and intuitive Business Intelligence Portal where they can view, analyse and execute transactions in real-time across both mobile and web platforms.