Kora, a Pan-African payment infrastructure provider, is partnering with Pyvio, a Hong Kong-based fintech company. The goal of this collaboration is to enhance the payment capabilities of Chinese startups operating in Africa. This partnership addresses a major challenge in the African market: the complexity of cross-border B2B payments for global businesses. Given the growing economic ties between China and Africa, this initiative is especially timely.
Facilitating financial transactions between SMEs
The diverse regulatory frameworks across Africa often pose obstacles for companies looking to expand on the continent. The alliance between Pyvio and Kora promises to simplify this process. Chinese e-commerce companies will now benefit from accelerated access to compliant payment systems across various African markets.
Li Kai, CEO of Pyvio, highlighted Kora’s deep understanding of the African financial transaction landscape. This expertise is crucial in helping Chinese e-commerce merchants overcome obstacles to growth in Africa. Li sees this partnership as a key step in Pyvio’s global expansion strategy, allowing the company to offer tailored payment methods to Chinese businesses operating in African markets.
Payment services in over 25 African countries
The collaboration between Kora and Pyvio is not entirely new. They already process payments for major platforms such as Jumia, WeChat, and TikTok. This existing relationship has laid a solid foundation for their expanded partnership. Dickson Nsofor, CEO of Kora, emphasized the advantages of Pyvio’s solution, which opens up new payment possibilities for Chinese businesses, including:
- Upfront payments
- Downstream payments
- Cross-border payments
- Card issuance
Nsofor expressed enthusiasm about partnering with Pyvio to create localized payment experiences for Chinese businesses in Africa.
Through Kora’s payment engine, Pyvio now offers B2B cross-border payment services in more than 25 African countries, with key markets being Nigeria, Ghana, Kenya, and South Africa. This broad coverage significantly expands the reach of Chinese businesses in Africa.
Major step forward in Africa’s fintech landscape
Kora’s role in this partnership is crucial. As a Pan-African payment infrastructure provider, it delivers a comprehensive payment API for various transaction types, including payouts, payments, and cross-border settlements. Kora’s services are designed to enable rapid scaling for global businesses across Africa. Through a single integration, companies can access a wide range of payment channels to accept payments, make payouts, and settle transactions.
Pyvio brings its strengths to the table. The company focuses on technological innovation in financial services infrastructure. Its mission is to help businesses thrive in a rapidly evolving cross-border economy. While Pyvio maintains a strong presence in Europe and the Americas, its commitment to emerging markets sets it apart. The company places particular emphasis on Southeast Asia, Latin America, and Africa.
This partnership represents a significant advancement in the African fintech landscape. It addresses the growing demand for efficient, compliant, and localized payment solutions for international businesses. By combining Pyvio’s innovative approach with Kora’s deep knowledge of the African market, this collaboration promises to streamline operations for Chinese businesses in Africa.
