How Cyprus-Based Companies Can Accept Online Payments from Africa

Africa is becoming a major growth market for Cyprus-based businesses, especially in industries like Forex trading, crypto, online investments, and e-commerce.

The challenge, however, is in collecting payments. While Cyprus and most of Europe rely heavily on Visa and Mastercard, Africa’s payment system looks completely different.

Across the continent’s 54 countries, each market has its own dominant payment method:

• Kenya: M-PESA

• Nigeria: Opay and Bank Transfers

• Uganda: MTN Mobile Money and Airtel Money

• Tanzania: TigoPesa and Vodacom M-Pesa

• Ghana: MTN MoMo

• South Africa: Ozow, EFT, and Instant Bank Transfers

If your business only supports Visa and Mastercard, you’re only reaching about 1–5% of the total African market. The remaining 95% of potential customers prefer paying through mobile money, local bank transfers, or wallet systems.

To effectively tap into this market, you need to integrate local payment options through a provider that connects Cyprus businesses with African payment rails.

Below are the top solutions to help you do that — including their key strengths, use cases, and settlement options.

1. Elemitech

Elemitech is one of the most flexible payment gateways designed to help global companies collect and send payments across Africa.

It supports over 14 African countries, including Nigeria, Kenya, Uganda, Tanzania, Ghana, Rwanda, and South Africa. Businesses can receive payments through mobile money, online banking, cards, and local wallets, with funds settled directly into Cyprus bank accounts or crypto wallets.

Why it’s ideal for Cyprus-based businesses:

• Multi-country coverage: Collect from users in multiple African markets through one API.

• Multiple settlement options: Get paid in USDT, USD, or EUR directly to your Cyprus accounts.

• Forex, crypto, and trading ready: Elemitech is built with compliance and high-volume use cases in mind, making it perfect for Forex and digital asset platforms.

• Supports payouts: You can also send payments to African users (for example, affiliates, partners, or traders).

Pros:

• Wide coverage across Africa

• Ideal for high-value or high-frequency businesses

• Fast settlements (weekly)

• PCI certified for data and transaction security

2. DusuPay

DusuPay is another strong payment partner for Cyprus businesses targeting Africa. It focuses on high-risk sectors that often struggle with traditional processors — such as crypto, gaming, remittance, and digital finance.

It allows businesses to collect from and pay out to multiple African countries using local methods like mobile money, local bank transfers, and cards.

Why DusuPay stands out:

• High-risk friendly: Accepts industries that many global processors reject.

• Collections + payouts: Handles both sides of the transaction flow, making it suitable for platforms that need to pay traders, affiliates, or winners.

• Simple integration: Offers API, dashboard, and payment link options.

• Strong market presence: Used by global brands expanding into Africa.

Pros:

• Great for crypto, gaming, and high-risk businesses

• Operates across East, West, and Southern Africa

• Payouts available in both fiat and crypto

• Secure and compliant infrastructure

3. Paystack

Paystack, a Stripe-owned company, is one of the most established payment gateways in Africa. It focuses on Nigeria, Ghana, Kenya, and South Africa, giving businesses reliable coverage in some of Africa’s biggest economies.

For Cyprus-based companies, Paystack can be used to accept payments from users in those countries through cards, bank transfers, and mobile money.

Why consider Paystack:

• Strong infrastructure: Built on Stripe’s technology and reliability.

• Simple onboarding: Easy API and dashboard setup for collecting payments.

• Wide adoption: Trusted by thousands of African businesses and consumers.

Pros:

• Excellent uptime and stability

• Trusted by major brands across Africa

• Best for mainstream industries like SaaS, e-commerce, and subscriptions

• Competitive pricing

Limitations:

• Coverage is limited to a few countries

• Not ideal for high-risk businesses like Forex or crypto

Final Thoughts

If your Cyprus-based company wants to reach African customers, you need to go local with your payment options. Visa and Mastercard alone won’t reach the majority of your users.

For businesses in Forex, crypto, and trading, Elemitech offers the best combination of local payment coverage, crypto settlement, and compliance flexibility.If you operate in high-risk sectors, DusuPay is a reliable choice for collections and payouts.And for mainstream industries focusing on Nigeria, Ghana, and Kenya, Paystack gives you solid infrastructure and brand trust.

The bottom line is simple:To win in Africa, you must let Africans pay the way they already do.