Nuvei Secures License for Local Payment Services in South Africa
Nuvei, a global fintech company, has obtained authorization from the Payments Association of South Africa (PASA) to provide local payment services. This move supports Nuvei's 'Every Payment Everywhere' strategy and expands its acquiring infrastructure to 52 markets worldwide. The expansion into South Africa allows businesses to optimize their payments locally while leveraging a single global platform, improving authorization rates, reducing costs, and enhancing fraud management through direct access to local transaction data. The B2C e-commerce market in South Africa is growing rapidly, with an estimated $8.48 billion value in 2025 and expected growth at 8.3% annually until 2029. Nuvei's CEO Phil Fayer emphasized the importance of local payment performance for global commerce success. The company aims to help businesses adapt their checkout experiences to meet South African consumer expectations while maintaining centralized control over authorization, fraud prevention, and reporting.
Topics: Africa expansion digital commerce fintech payments infrastructure