CashtoCode, the instant cash payment service for online merchants, has made its first entry into the African market by allowing Nigerian customers to top up their iGaming or other merchant accounts via in-store cash deposits.
Bettors will now be able to add Naira to their accounts via the Payalat Bill Payment Platform, and at all ServPoint Agent locations – both of which are operated by Globasure.
“We see a lot of potential in the African market, which is under-served for simple and accessible payment options that help people participate in ecommerce,” said CashtoCode CEO Jens Bader.
“Nigeria is a popular destination for new businesses hoping to succeed in Africa, especially in fintech. We think our service has a natural fit in Nigeria, and in the day-to-day routines of people’s lives there. Payalat and ServPoint locations perform a crucial service and are already extremely popular for bills payment services.
“With CashtoCode, people can now use the same service to top up their digital ewallets, iGaming accounts and other online merchant balances.
“For iGaming operators, we offer the instant ability to go live in the region and start accepting deposits from potential customers, without the common challenges of currency conversation and repatriation.”
The launch within the Nigerian market comes at a time when CashtoCode is looking to establish itself as a leading cash deposit service in Africa. The company cited Nigeria’s high population of smartphone users as a key factor in the decision to select the market as its first African hub.
CashtoCode will also offer enhanced support for igaming companies looking to enter the region by setting up payment collection services via cash payments and evouchers, which the payments service believes will help operators to “overcome the challenges around currency conversion and repatriation”.
Chris Ife, CEO of Globasure, added: “Payalat and ServPoint are positioned to enable customers purchase and redeem CashtoCode vouchers easily and conveniently via web, mobile app, POS app and Agent locations.”