MFS Africa purchases digital PSP Beyonic

Thursday 2 July 2020 10:16 CET | News

Fintech MFS Africa has acquired Beyonic, a digital payments services provider for enterprises in Africa.

The financial details of the transaction were not disclosed. The partnership will allow African SMEs to manage digital transactions with individuals and businesses around the world. The businesses using Beyonic will be able to cater to additional markets directly using the same interface utilising the connections of MFS Africa Hub.

The completion of the deal is subject to approval from the Fair Competition Commission in Tanzania. As a digital payments hub, MFS Africa connects more than 200 million mobile wallets in Africa through a single API.

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Keywords: MFS Africa, Beyonic, PSP, SMEs, Africa, digital transactions, MFS Africa Hub, Fair Competition Commission, Tanzania, mobile wallets, API
Categories: Banking & Fintech
Countries: Africa
This article is part of category

Banking & Fintech