PayRetailers is taking its operations from Latin America to Africa in a huge expansion of its global payments operations by launching in four new countries.
The payments processor is activating its functions in Rwanda, Tanzania, Uganda and Zambia. PayRetailers is targeting businesses seeking to grow regional operations by offering access to local payments methods like SPENN, Airtel and MTN.
PayRetailers has highlighted the increasing connectivity and mobility of African markets and payments networks as a key opportunity in the continent. The firm states that it aims to foster financial inclusion and support business growth regionally.
Lorenzo Pellegrino, PayRetailers Chief Operating and Digital Officer, said: “As a part of our strategic expansion, we are extending our coverage to four markets in Africa, at least to start with.
Over the coming months, we plan to steadily expand our operation in the continent, which is experiencing incredible growth in the payments industry and has massive potential for merchants looking to diversify and broaden their consumer base.
“Using the stellar and continuous growth we have experienced in LatAm as our guide, we are well-poised to help businesses thrive faster and more sustainably.”
Headquartered in Barcelona, PayRetailers takes its operations live in Africa after building up a considerable presence in the Spanish-speaking markets of Latin America.
The firm shored up its presence in the region by acquiring Chilean firm Paygol and Colombian company Pago Digital back in 2022. This was followed more recently by registration as a payment service provider (PSP) with the Argentine central bank.
Upon moving into Africa – home to several growing economies such as the firm’s new Rwandan market – PayRetailers states that it will unveil expansion plans in the coming months.
“We recognise the immense potential and significance of venturing into these dynamic markets,” remarked Juan Pablo Jutgla, CEO of PayRetailers.
“Each new addition to our market coverage is a gateway into untapped opportunities and strengthened partnerships, ensuring our sustained growth and global relevance.
“Our imminent expansion into additional countries across West, North, and Southern Africa underscores our commitment to empowering our clients and connecting them with diverse consumer bases across the continent.”
