Paymentology, a leading global issuer-processor, has announced its 20th anniversary of dedicated on-soil processing and strategic investment across the African region.
Paymentology originated in South Africa and was formerly known as
Tutuka. It is a cloud-based, next-generation processor which empowers banks,
fintechs, and telcos with the technology, expert teams, and experience to
enable them to issue and process physical and virtual cards, including debit,
prepaid, credit, BNPL, revolving, and more, on a global scale.
Over the last two decades, Paymentology's platform and products have
been designed to simplify the deployment process for its clients. It has
navigated on-soil and regional data regulations, allowing clients to
successfully launch their products on any public or private cloud, adhering to
regional compliance requirements, a key component of data residency
considerations.
Fintech's Digital Assets market in Africa is projected to grow by 9.01% (2024-2028)
resulting in a market volume of US$56.47bn in 2028. Owing to this
growth, Paymentology powers several leading organisations in the
South Africa region including Standard Bank, Access Bank, Adumo, Santam,
Massmart, Pick n Pay, Liberty Group, Achievement Awards and Altech,
Mukuru, Mama Money and Spar.
Paymentology has also made substantial investments in its
tokenization services and offers its clients unmatched digital capabilities.
This investment coincides with a pivotal juncture in the payments industry as
global preferences shift toward network tokens, a significantly more secure
alternative to traditional card-on-file storage.
Jeff Parker, CEO
at Paymentology commented "Paymentology was
first to market in Africa to support startups, retailers and corporates in
getting payments right and enabling people to pay, and get paid, in a way
that suits the demands of the modern world. Our success over the last 20 years
is attributed to our growing on-site team in Africa, which has doubled over the
last two years. By bolstering our workforce across the African continent, we
continue to foster local collaboration and co-innovation with our clients."
Drisha Kirkman, Head of Programme Management
and Sustainability at Paymentology added that "The African fintech ecosystem is Paymentology's lifeblood,
we pride ourselves on our diverse workforce and, in turn, the wide range of
perspectives that come with it that reflect the rich tapestry of the Africa
region. We started our journey here, and we remain steadfast in nurturing
growth and supporting our clients. The regional market is poised for
substantial expansion over the next five years, and we are set to continue
playing a pivotal role in this growth, empowering our clients with our flexible,
reliable, and sustainable next-generation on-soil processing."
By: Nana Appiah Acquaye