by Robin Philip Robin Philip No Comments

A New Dawn for African Banking and Payments: The Merging of Fiat and Crypto

The global financial landscape is witnessing a fascinating evolution, with discussions around blockchain-based ecosystems and established payment giants exploring innovative ways to handle transactions. Recent news, such as the potential collaboration between Sam Altman’s World Network and Visa for stablecoin payments, offers a glimpse into a future where digital currencies seamlessly integrate with traditional financial infrastructure. For African Payment Solutions, this signals a significant opportunity to revolutionise banking and payments for consumers across the continent by embracing the merging of fiat and crypto.

Imagine a scenario where your digital wallet functions as a “mini bank account”, allowing you to hold both traditional fiat currencies and stablecoins. This vision, hinted at by the developments surrounding World Network, could become a reality in Africa, offering a powerful new paradigm for financial services.

What does this merging of fiat and crypto mean for African consumers?

  • Enhanced Financial Inclusion: Millions of unbanked and underbanked individuals across Africa could gain access to a broader range of financial services through stablecoin-enabled wallets. These wallets, potentially linked to card functionalities, could bypass the need for traditional bank accounts for everyday transactions.
  • Seamless Cross-Border Payments: The ability to send and receive money across borders efficiently and affordably is a critical need in Africa. Stablecoins, designed to maintain a stable value, can facilitate faster and cheaper cross-border transactions compared to traditional methods, reducing reliance on correspondent banking networks.
  • Lower Transaction Costs: Traditional payment systems often involve multiple intermediaries, leading to higher transaction fees. By leveraging blockchain technology and stablecoins, transaction costs could be significantly reduced, benefiting both consumers and merchants.
  • Greater Flexibility and Choice: Consumers could have more control over their funds and the methods they use to pay and receive money. The integration of fiat and crypto within a single wallet would offer flexibility in choosing the most suitable currency for different transactions.
  • Access to a Wider Range of Fintech Applications: As seen with World Network’s announcement of a World Chat application with crypto-based money transfer capabilities, the convergence of crypto and traditional finance can unlock new and innovative fintech applications, catering to the specific needs of African consumers.

The potential collaboration between a blockchain-based network like World Network and a major card network like Visa to enable stablecoin-based payments at thousands of merchants highlights the direction in which the global payments ecosystem is moving. For African Payment Solutions, understanding and leveraging these trends is crucial. By exploring partnerships with crypto card facilitators and embracing the development of interoperable wallets that can handle both fiat and stablecoins, we can pave the way for a more inclusive, efficient, and affordable financial future for African consumers.

The journey of merging fiat and crypto in Africa is just beginning, but the potential benefits are immense. By embracing innovation and collaboration, African Payment Solutions can be at the forefront of this transformative wave, empowering individuals and businesses across the continent with a new era of banking and payments.

by Robin Philip Robin Philip No Comments

 Navigating Cross-Border Payments in Africa: Is Crypto the Future? 

💡 Navigating Cross-Border Payments in Africa: Is Crypto the Future? 💡

The recent $82 million funding round for crypto payments infrastructure company Mesh highlights a significant trend that multinational e-commerce merchants trading across Africa should be paying close attention to. Mesh enables users to pay with crypto assets at merchants accepting stablecoins, and their 300% quarter-on-quarter transaction volume growth indicates a clear appetite for these solutions. As Mesh CEO Bam Azizi states, “we believe that at some point we will have more crypto owners than bank account holders and credit card holders… [building] a payment network that can help move money faster, better, and cheaper”.

For e-commerce businesses facing challenges with traditional payment rails in diverse African markets, integrating with crypto payment infrastructure could unlock faster, more cost-effective transactions and access a growing base of crypto-savvy consumers.

Considering the limitations of traditional banking in some regions, could stablecoins be a key to streamlining your African operations? 

Contact us now for repatriation of your merchant funds to your home country and currency.

#ecommerce #africa #payments #cryptocurrency #stablecoins #fintech

Thank you for inspiration to https://tokenizednewsletter.beehiiv.com/p/crypto-acquisitions-hit-all-time-highs

by Robin Philip Robin Philip No Comments

Navigating the Evolving Landscape of Travel Payments: Insights from Industry Experts

The travel and tourism sector is recovering strongly, projected to reach USD 955.94 billion by 2029, with 75% of revenue from online sales. This growth brings increased complexity in travel payments due to new technologies, customer behaviours, and regulations.

Emerging payment trends include the adoption of cryptocurrency and Buy Now, Pay Later (BNPL), alongside a broader shift towards alternative payment methods (APMs) to meet evolving customer demands.

Fraud remains a major challenge in the travel industry, necessitating holistic risk mapping and a balance between security and a convenient checkout. Airlines also face issues with loyalty fraud.

Regulatory frameworks like PSD2 and PSD3, as well as changes to travel directives, impact the industry. Tourist taxes are also a growing consideration for both travellers and airlines.

Airlines face forex challenges in managing foreign currency revenues, requiring strategic hedging.

Sustainability is increasingly important, with varying perceptions and priorities across regions and demographics.

Overall, the evolving travel payments landscape requires continuous adaptation and a customer-centric approach to payment strategies.

Contact us now about your travel and tourism acquiring across Africa including processing and repatriation of funds. Thank you ❤️

Thank you to The PayPers for inspiration: https://thepaypers.com/voice-of-the-industry/the-complete-guide-to-travel-payments-insights-from-industry-experts–1272851

by Robin Philip Robin Philip No Comments

 Exciting news for multinational eCommerce merchants trading in Africa!  The Pan-African Payment and Settlement System (PAPSS) is transforming cross-border payments across the continent.

📢 Exciting news for multinational eCommerce merchants trading in Africa! 🌍 

The Pan-African Payment and Settlement System (PAPSS) is transforming cross-border payments across the continent.

Here’s what this means for your business:

  • Simplified Payments: Say goodbye to the historical complexities and costs associated with foreign exchange for cross-border transactions. PAPSS will simplify the entire process.
  • Instant/Near-Instant Payments: Experience faster transactions with instant or near-instant transfers of funds between you and your customers, regardless of their location in Africa.
  • Local Currency Transactions: Payments will be made in local currencies, eliminating the hassle and costs of currency conversion for both you and your customers.
  • Reduced Costs: PAPSS will reduce the costs associated with cross-border payments, leading to operational efficiencies and increased profitability.
  • Improved Working Capital: Benefit from payment certainty and faster transaction times, leading to improved working capital management.
  • Access to New Markets: PAPSS can help unlock economic opportunities by making cross-border trade easier and more efficient, facilitating access to new African markets.
  • Growing Network: PAPSS is bringing together a growing network of banks, payment service providers, and other financial intermediaries across Africa, expanding reach and payment options.

PAPSS is a game-changer for cross-border trade in Africa, offering a secure and efficient financial market infrastructure. By connecting African banks and payment service providers, it will enable instant and secure payments in local currencies. This is a significant step towards accelerating Africa’s trade and creating a more interconnected and prosperous continent.

Contact us to learn more about how your multinational eCommerce business can benefit from interconnected payment services!

#PAPSS #Africa #eCommerce #CrossBorderPayments #Fintech #Trade #GlobalCommerce

by Robin Philip Robin Philip No Comments

Exactly How Has the Expiring Card Problem been Solved for Recurring Billing and Subscriptions?

Here’s a blog post explaining exactly how the expiring card problem has been solved with card-on-file tokenisation:

Say Goodbye to Expired Card Headaches: How Tokenisation Keeps Payments Seamless

For e-commerce merchants, one of the most persistent and frustrating issues has been dealing with expired credit cards for customers with saved payment details. Whether it’s for subscription services, recurring payments, or simply a returning customer’s convenience, outdated card information leads to failed transactions, lost revenue, and a poor customer experience. Thankfully, modern payment technology, specifically card-on-file tokenisation, offers a robust solution to this long-standing problem.

So, how exactly does tokenisation solve the expiring card dilemma? Let’s break it down:

Instead of directly storing your customers’ sensitive Primary Account Numbers (PANs) – their 16-digit card numbers – card-on-file tokenisation replaces this data with a unique, randomly generated identifier called a token. This token is essentially a placeholder for the actual card details.

The crucial innovation lies in how these tokens are managed, particularly when a card expires or is replaced due to loss or theft. Traditionally, when a customer’s saved card expired, the merchant would have to rely on the customer to manually update their information. This often led to forgotten updates, failed payments, and customer churn.

With card-on-file tokenisation, the process is far more streamlined and often completely invisible to both the merchant and the customer. Here’s how it works:

  • When a customer’s card on file is tokenised, a link is created between the merchant (the token requestor) and the cardholder’s credential. This link, and the associated token, are managed by the card issuer (the bank).
  • The issuer actively monitors the lifecycle of the underlying card. When a card is due to expire or a new card is issued (for example, due to the old one being reported lost or stolen), the issuer updates the linking to the token.
  • The token itself remains active and valid, even though the physical card number and expiry date have changed.
  • When a subsequent payment is initiated using the token, the updated card details are automatically retrieved and used by the payment processor behind the scenes.

This means that for services like subscription boxes or monthly software fees, customers no longer need to manually update their payment information when their card expires. The transition to their new card is seamless, ensuring uninterrupted service and preventing failed payments.

As Phillip mentioned in our conversation, this is a “massive benefit because you don’t have all those expiring cards and things like that”. Nikhil from Visa confirmed that the bank or issuer manages the linking from the old card to the new card and to the token, maintaining the vault and updating the linking automatically.

Key benefits for merchants include:

  • Reduced churn: Fewer failed payments due to expired cards mean fewer lost subscriptions and repeat business.
  • Improved customer experience: Customers enjoy a hassle-free experience without the need to remember to update their payment details.
  • Increased revenue: Fewer failed transactions directly translate to more successful payments and higher revenue.
  • Reduced operational overhead: Your team spends less time dealing with declined payments related to expired cards.

In essence, card-on-file tokenisation takes the burden of managing expiring card details away from both the merchant and the customer. By ensuring that the underlying payment information associated with a token is automatically updated by the issuer, this technology delivers a smoother, more reliable payment experience that benefits everyone involved. It’s a significant step forward in creating truly seamless e-commerce transactions.

by Robin Philip Robin Philip No Comments

We’ve implemented Visa’s card-on-file tokenisation for eCommerce merchants

Here’s a short, bulleted overview of the benefits of card-on-file tokenisation for merchants:

  • Enhanced Security: Replaces sensitive PAN data with tokens, reducing fraud risk.
  • Improved Customer Experience: Automatic card updates for recurring payments prevent disruption. Faster checkout for returning customers.
  • Higher Authorisation Rates: Tokenised transactions see a higher approval rate than PAN-based ones.
  • Reduced Fraud: Significantly lowers card-not-present (CNP) fraud.
  • Avoid Visa Fines: Tokenisation helps avoid “behavioural fines” on PAN-based transactions.
  • Simplified PCI Compliance: Reduces exposure to sensitive card data, potentially easing compliance efforts.
  • Future-Proof Payments: Aligns with the industry trend towards tokenisation.
  • Increased Sales: Higher authorisation rates and reduced cart abandonment can lead to increased revenue.
  • Better Data Insights (potentially): Linked tokens can offer a unified view of customer transactions.
  • Competitive Advantage: Offering modern, secure payment options can attract more customers.

Contact us to get tokenised now!

by Robin Philip Robin Philip No Comments

Agentic Commerce and Payments! 


📢 Decentralized AI Agents Alliance (DAAA) tackles Agentic Commerce and Payments! 🎉 

The newly formed Agentic Commerce Subgroup is bringing together a dynamic group of individuals passionate about the intersection of decentralized AI agents and commercial transactions, particularly in the blockchain space.

Initiated by Eric Forst of Blocksee and including our Robin Philip, the Agentic Commerce subgroup includes members from diverse organisations such as Mother AI, Taiser.ai, Beem, Coinbase, and PayPangea, with interests spanning DeFi, content monetization, AI-driven wallet management, and both crypto and traditional payments.

The group’s ambitions include defining “agentic commerce,” exploring various payment mechanisms, and fostering interoperable standards. 

A key focus is on identifying and solving clear problems collectively and bridging the gap between traditional businesses, AI developers, and crypto communities. 

What are your thoughts around how Agentic payments are developing?

 #AgenticCommerce #DAAA #DecentralizedAI #Web3 #AI

by Robin Philip Robin Philip No Comments

Level Up Your Game: Reduce Costs, Expand Reach, and Boost Profitability in African Sports Betting and iGaming

Are you looking for a game-changing solution to optimise your payment operations in the dynamic African sports betting and iGaming market? African Payment Solutions is excited to build you a cutting-edge Cashier Management System that can empower your business to achieve unprecedented levels of efficiency, reach, and profitability.

The Cashier Management System is designed to be significantly more advanced than basic voucher systems. It offers a comprehensive suite of features tailored to the unique demands of your industry, enabling you to streamline your financial processes and focus on growth.

Unlock Unparalleled Efficiency and Reduced Costs:

  • Sophisticated Wallet Management: Our system provides the ability to create nested wallets that can be named as Agents or Stores. This hierarchical structure allows for efficient management of funds across your network, whether you operate through physical agents or multiple online platforms. This granular control can significantly reduce reconciliation overheads and minimise discrepancies, directly impacting your operational costs.
  • Secure and Controlled Transactions: Moving money in and out of wallets is a core function of our system, complete with all the necessary checks and balances. This robust framework ensures secure transactions, mitigating the risks associated with fraud and unauthorised activities. By strengthening your financial controls, you can reduce potential losses and improve your bottom line.
  • Comprehensive Reporting and Insights: Gain a clear and real-time understanding of your financial performance with our detailed reporting capabilities. The system provides reporting on all these wallets and transactions to show balances, live views and detailed transaction views. These insights enable you to make data-driven decisions, optimise your operations, and identify areas for cost reduction and revenue enhancement.

Expand Your Reach Across Africa:

  • Flexible Integration Options: This Cashier Management System will be accessible via API and/or the Admin interface – also potentially a stand alone interface should the need arise. This flexibility allows for seamless integration with your existing platforms and opens up opportunities to reach a wider audience through various channels. Whether you need to connect to your website, mobile applications, or agent networks, our system can adapt to your needs. The nested wallet structure for “Agents” and “Stores” directly supports expansion through agent networks.

Drive Profitability and Achieve Sustainable Growth:

By reducing operational costs, minimising financial risks, and enabling broader market penetration, the Cashier Management System directly contributes to increased profitability for your sports betting and iGaming business in Africa. The detailed reporting empowers you to understand your financial flows, identify profitable segments, and make strategic decisions to maximise your returns.

Built for You, Ready in Weeks:

We understand the importance of speed to market. Our team is dedicated to delivering this powerful solution efficiently, with a build time of just a month and a half from the project start date.

Ready to transform your payment operations and elevate your business?

Contact African Payment Solutions today to learn more about how our Cashier Management System can be tailored to your specific needs and help you thrive in the African sports betting and iGaming landscape.

by Robin Philip Robin Philip No Comments

The Nature of African eCommerce Payments with a World Class Team – an external view on us

APS focuses on fast integrations and building bespoke products for large merchants. 

Their payment gateway is built in the Amazon Cloud, ensuring a modern and modular construction. This allows them to quickly adapt and create tailored solutions.

The team consists of people who are described as resilient, comfortable dealing with challenges and constantly adapting to market changes. The APS team members are resourceful and quick-thinking.

The APS team are hands-on and detail-oriented. For example, they handle tasks such as:

  • Managing quarterly changes from acquiring banks.
  • Testing transactions with the Schemes to identify format errors.
  • Cloud migration testing
  • Troubleshooting discrepancies with banks.
  • Addressing security risks.
  • Developing systems for merchant notifications regarding card updates.

The APS team are technically skilled and proactive in addressing issues. Despite being a small team, they manage to accomplish a significant amount. There is also a culture of collaboration and communication to ensure tasks are completed efficiently.

by Robin Philip Robin Philip No Comments

Revolutionising Travel Bookings: The Power of Seamless Online Payments 

The online travel industry is undergoing a massive transformation, and at the heart of it lies the evolution of online payment systems. For Online Travel Agencies (OTAs) to thrive, integrating diverse, secure, and user-friendly payment solutions is no longer optional—it’s essential. Here’s why:

  • Global Payment Preferences: Payment preferences vary significantly by region. In Asia-Pacific, digital wallets like Alipay and WeChat Pay dominate. Meanwhile, in North America, credit and debit cards remain primary, though mobile wallets are gaining traction. OTAs must adapt to these local nuances to capture a global audience.  In Africa its mainly credit and debit cards and mobile money, but bank transfers are becoming popular.
  • Fintech Innovation: Fintech innovation is optimising payment services globally. The ability to handle a high volume of transactions per second, whilst ensuring system stability and reducing settlement times.
  • Cross-Border Solutions: As international travel recovers, seamless cross-border payments are crucial. Real-time payment networks and crypto technology facilitate faster and more cost-effective transactions, reducing currency conversion fees and processing times.
  • Fraud Prevention: With cyber threats becoming more sophisticated, AI and machine learning (ML) are vital for fraud detection and prevention. These tools analyse transaction patterns in real-time, enhancing security and improving customer trust.
  • Personalised Experiences: Travellers expect payment options tailored to their preferences. AI and data analytics enable OTAs to offer dynamic pricing and payment choices based on location, currency, and booking history, reducing cart abandonment.

OTAs must prioritise flexibility, security, and scalability to meet evolving customer expectations and stay competitive. Embracing these payment trends will not only enhance the traveller experience but also drive business growth in an increasingly digital world.

Thank you to The PayPers for inspiration https://thepaypers.com/interviews/payment-trends-and-sustainable-travel-regional-and-demographic-differences–1272577

#travel #payments #fintech #traveltechnology #onlinepayments #digitalwallets #AI #machinelearning #crossborderpayments #TripcomGroup