In a move set to revolutionise B2B payments across the African continent, Kora, a leading pan-African payment infrastructure, has announced a strategic partnership with Hong Kong-based fintech company Pyvio. The collaboration aims to simplify cross-border payment processes for Chinese e-commerce and media companies operating in Africa, allowing them to navigate the often complex regulatory frameworks of the continent.
Cross-border B2B payments in Africa have long been a challenge for global businesses, particularly due to the intricate regulatory landscapes in many African countries. For Chinese businesses looking to expand into Africa, navigating these challenges has been even more difficult. The new partnership between Kora and Pyvio is expected to provide a seamless and compliant solution for Chinese businesses, enabling them to access Africa’s rapidly growing markets.
With the partnership, Chinese e-commerce companies can now benefit from compliant payment rails across more than 25 African countries, including key markets like Nigeria, Ghana, Kenya, and South Africa. This expansion will ease their entry into African markets and help overcome significant barriers to growth.
The collaboration is set to deliver enhanced payment capabilities to Chinese businesses, including pay-ins, payouts, cross-border payments, and card issuance. This integration promises to create a seamless payment experience, allowing businesses to settle payments efficiently while complying with the local regulatory environment.
Commenting on the partnership, Li Kai, CEO of Pyvio, said:
“The team at Kora has a deep and nuanced knowledge of the African payments context, and we rely on that to help Chinese e-commerce merchants overcome the many barriers to scaling in Africa. We are excited to partner with Kora. This is a huge milestone in our global expansion strategy and allows us to offer truly ‘Global’ payment methods to Chinese businesses.”
Similarly, Dickson Nsofor, CEO of Kora, remarked:
“Pyvio’s dynamic solution opens up new payment capabilities for Chinese companies, including supercharged pay-ins, payout, cross-border payments, and card issuance. We are happy to be a partner with Pyvio in their mission to create truly localised payment experiences for Chinese companies doing business in Africa.”
This partnership marks a significant milestone in the global expansion strategy of both Kora and Pyvio. For Chinese e-commerce companies looking to scale rapidly across Africa, the availability of seamless, localised payment solutions is crucial. These solutions will empower businesses to grow without being hindered by complex regulatory environments or slow payment processes.
The inclusion of B2B cross-border payments across key African markets will provide Chinese businesses with the tools they need to efficiently operate and thrive on the continent. Kora’s payment engine, combined with Pyvio’s advanced technology, ensures that businesses have access to the robust infrastructure required to meet Africa’s diverse market needs.
By leveraging Kora’s expertise in African payment systems, Pyvio can now offer businesses in Southeast Asia and China a comprehensive solution that allows them to conduct business smoothly across African markets. This partnership reflects the growing importance of Africa as a hub for global e-commerce, particularly as more companies from China and other regions look to tap into the continent’s burgeoning markets.
With the backing of Kora’s infrastructure, Pyvio is now better positioned to support businesses in emerging markets, bringing cross-border payment solutions to the forefront. B2B e-commerce in Africa is rapidly evolving, and this partnership stands as a testament to the potential that exists for businesses willing to explore this dynamic market.
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