Browsing: B2B virtual payment card

• Nigeria received $1.2 billion in 2022 to fund and support fintech-based startups.
• South Africa led in electronic bank transfers, with 49.1% of respondents selecting their preferred payment methods.
• Kenya took the lead on the best payment automation stem, with 83.4% stating that their B2B payment systems were semi-automatic or fully automatic.

Within the past decade, the world economy has revolutionized into a more digital era. The technological progress of the continent is attributed to the rising technologies, ushering in the fourth industrial revolution. Among these emerging markets is Africa’s fastest and most lucrative economic activity; Fintech.

Africa’s fintech industry has grown exponentially over the past two decades. The endeavours of entrepreneurs and innovators have fueled a new approach to traditional financial systems. Essentially, it has ushered in a new B2B payment system that is reliable, scalable, available and faster.

This new trend met high enthusiasm from several countries within the …