Payments Processor PayRetailers Expands into Kenya, Nigeria, Six Other Countries

PayRetailers, the Latin America-based payment processor, has expanded into Kenya and seven other markets in the region, bringing its total presence on the continent to 12 countries.

The fintech is now present in Burkina Faso, Cameroon, Kenya, Ivory Coast, Ghana, Senegal, South Africa, and Nigeria.Three months ago, it launched operations in Uganda, Rwanda, Tanzania, and Zambia.PayRetailers is in an aggressive growth phase, and plans to expand to more countries in the country as well as Europe.“Expanding into eight new markets marks a significant milestone for PayRetailers as we continue our mission to bring tailored payment solutions to diverse regions. Africa is a vibrant and varied continent, with payment preferences that differ from region to region,” Jonathan Vintner, Global Head of Sales at PayRetailers said in a statement.

Founded in 2017 by Juan Pablo Jutgla, PayRetailers offers solutions for e-commerce through a combination of its technology and commercial agreements that allow for local payment methods. In May, the fintech acquired the Brazil-based company Transfeera, expanding its presence in the country to 100 employees, a fifth of its global staff numbers.

PayRetailers’ expansion on the continent follows of a growing trend of Latin America based fintechs setting up operations in Africa, betting that similar economic demographics and business challenges represent a chance for growth. Other fintechs that have announced operations in recent months include Minka, and Conduit.