Cellulant has revealed ambitions to evolve business payments in Africa with the introduction of its online and offline payment solutions.
It builds on the rapid growth of the African payment space, which has been significantly bolstered by the expansion of peer-to-peer (P2P) and consumer-to-business (C2B) payment solutions.
At the recently held 25th Annual Harvard Africa Business Conference in Boston, Cellulant’s Group CEO, Akshay Grover stated: “Solving the payments challenges in Africa is not just about payments but accelerating global economic growth. Africa’s dynamic economies and lack of an established payment infrastructure have resulted in a unique occurrence on the continent.
“On the one hand, this has prompted the growth of payment platforms and solutions to meet the various needs of businesses and consumers, turning Africa into a centre of innovation in the payments sector.
“On the other hand, with multiple providers, a wide range of payment methods exists due to the absence of a consistent infrastructure, enabling businesses to collect payments seamlessly or easily operate across borders.
“Therefore, a payments infrastructure in Africa must holistically address the needs of businesses and their consumers by making it easy to collect payments online and offline – regardless of the size of the business.”
However, the fragmentation of payment processing continues to pose a significant challenge for businesses seeking to establish a presence in Africa.
Cellulant has formed a partnership Tingg, a payments platform that provides multinational and international businesses with a solution for their payments across the continent.
It caters to businesses in various sectors, such as Airlines, Telecoms, E-commerce, Ride-Hailing, Retail and Remittances, enabling these businesses to deliver a frictionless payment experience to their customers.