Publication Date: November 28, 2023

From November 13 to 16, 2023, the Paysto team took an important step in its international expansion by participating in the Africa Tech Festival — the largest technology event on the African continent, held in Cape Town, South Africa.

The summit, which gathered over 15,000 telecom leaders, IT professionals, investors, and government officials, served as an ideal platform to present the capabilities of our platform in a region where mobile payments are the standard, not the exception.

Africa: The Continent That Lives in a Mobile Wallet 📱

We are convinced that the African market is a unique testing ground for fintech innovations. Unlike Europe or North America, where bank cards dominate, M-Commerce (mobile commerce) reigns here. For millions of Africans, a mobile wallet, not a bank, is the primary financial instrument.

Our participation was focused within the AfricaTech track, where issues of digital transformation, FinTech, and the use of AI and blockchain were discussed.

Key Takeaways for Paysto from the Summit

1. Mobile Integration — Critical Factor: For a successful entry into the African market, Paysto must ensure deep and seamless integration with key local mobile money providers, such as M-Pesa and MTN Mobile Money. A universal payment platform must become a "mobile wallet aggregator."
2. Cross-Border Payments and AfCFTA: Speakers actively discussed the potential of the African Continental Free Trade Area (AfCFTA). Paysto, with our expertise in international settlements, is ready to become part of the infrastructure simplifying cross-border B2B and C2B payments on the continent.
3. RegTech and Compliance: Meetings with regulators (including representatives of South African government agencies) highlighted the urgent need for RegTech solutions. Our technological base allows us to create reliable systems for verification and fraud prevention that comply with local requirements, which is our key competitive advantage.

💬 Quote: "At Africa Tech Festival, we saw not just a market, but a technological revolution in action. Mobile payments here solve social, not just commercial, problems. We are ready to offer a platform that will not just accept money, but contribute to financial accessibility and the growth of local businesses. Paysto fully aligns with this mission."

— Head of International Expansion, Paysto

Paysto's Prospects in Africa

The results of the trip exceeded expectations. We held dozens of productive meetings with potential partners:

• Telecom Operators: Discussed direct cooperation to integrate Paysto into mobile payment ecosystems.
• Local FinTech Hubs: Outlined strategic alliances for launching pilot projects in Nigeria, Kenya, and Ghana.
• Investors: Presented our scaling plan, which attracted significant interest from venture funds specializing in fast-growing markets.

What's next? In the coming months, Paysto will focus on developing localized payment acceptance modules tailored for the African continent. Our goal is to become the preferred payment gateway for international and local e-commerce in this region.

Stay tuned for updates! Africa is already in Paysto's plans.