Pan-African payment infrastructure company, Kora has launched a dollar payment option on its platform to ease dollar transactions for merchants.
The fintech company enables local and global businesses to accept payments, make payouts, and get settled across popular payment channels across Africa
The firm stated that the dollar card acquisition was the latest addition to its suite of currencies, including naira bank account issuing, pay-ins, payouts, and cross-border settlement across multiple countries.
Commenting on the new product, the Head of Product at Kora, Sandra Israel-Ovirih, said, “Incorporating USD card payments has been a priority for a while now.
“We understand that many businesses operate in a global marketplace and need a seamless payment system to handle cross-border transactions. This will be a game changer for African businesses selling to a global market.”
Kora’s Chief Executive Officer, Dickson Nsofor, added, “We want the merchants we serve to scale globally. Giving them the option to accept USD is an important milestone in this effort.
“The focus is on Africa. But despite an increase in Africa’s participation in global trade, our contribution is still only around three percent. Giving African businesses the ability to accept global payment will accelerate Africa’s contribution to international trade.
“Our next step is launching a multicurrency bank account product that allows our merchants to access banking solutions currencies like EUR, GBP, and USD via the Kora platform.”