top of page

Accept payments for your business in Africa

Collect and make payments from 14 African countries. Mobile money, Credit/ Debit cards and online banking channels accepted

Black Lady in a suit pointing to the left.jpg
Search

Key Considerations When Choosing a Payout Platform for Scaling Your Money Remittance Business to Africa


Expanding a money remittance business to Africa comes with immense opportunities, but it also demands thoughtful consideration of several factors that can influence your choice of payout platform. The continent’s diversity in payment systems, currencies, and customer preferences calls for a tailored approach to ensure your business thrives.



1. Pay-Out Options Available

Africa’s diversity means differing payment preferences across its 54 countries. For example, while many South Africans rely on traditional bank accounts, in Uganda, mobile money platforms such as MTN and Airtel Money dominate as preferred payment methods. Your chosen payout platform should facilitate multiple localized options to serve these diverse needs seamlessly. Platforms like Elemi Remit specialize in localized payment options, supporting systems such as Mpesa in Kenya, MTN Mobile Money in Uganda, and Orange Money in Cameroon, among others. This ensures your business can adapt to the unique needs of each market.


2. Transaction Costs

Efficiently managing costs is essential for profitability in the remittance industry. Different payout methods carry varying fees. For example, cash payouts via outlets can cost as much as $15 in certain countries, whereas mobile money payouts can cost as little as $0.30. Partnering with cost-effective platforms such as Elemi Remit helps minimize disbursement expenses, preserving your profit margin.


3. FX Fees

With Africa’s fragmented currencies, remittance businesses face inevitable foreign exchange costs. Countries in East Africa alone operate in multiple currencies, like the Kenyan Shilling (KES), Ugandan Shilling (UGX), Rwandan Franc (RWF), and Tanzanian Shilling (TZS). Choosing a provider offering competitive exchange rates is critical. Elemi Remit stands out with FX fees as low as 0.2% to 3% a significant advantage compared to the industry norm, allowing you to keep conversion costs under control.


4. Funds Security

Wherever money is involved, security is paramount. Your payout platform must safeguard your funds against bad actors, whether external threats or internal vulnerabilities. Elemi Remit boasts battle-tested infrastructure, advanced authentication options, and robust API structures to protect funds across all levels.

5. Data Security

Privacy in financial transactions is a non-negotiable factor. Opt for a payout platform with stringent data security measures and relevant licenses to validate its capabilities. Elemi Remit prioritizes data privacy, ensuring that sensitive information remains confidential and protected.


6. Integration Capabilities

Scalability demands smooth integration of systems. A reliable payout platform should provide robust APIs and software solutions compatible with your current infrastructure. Elemi Remit simplifies this process with adaptable tools for seamless implementation.


7. Scalability

As your operations grow, the platform you choose should expand with you. Elemi Remit supports scalability both geographically and technologically, accommodating higher transaction volumes and new market entries with ease.


8. Customer Support

Africa's diverse time zones require 24/7 customer service that caters to your needs. Elemi Remit delivers reliable support with multilingual capabilities, ensuring your issues are resolved promptly to maintain client satisfaction in the time zones supporting all African countries.


9. Regulatory Compliance

Navigating Africa’s regulatory landscape can be daunting. Platforms like Elemi Remit are built with compliance in mind, adhering to local financial regulations and international standards such as Anti-Money Laundering (AML) and Know Your Customer (KYC).


10. User Experience

A payout platform’s usability can significantly impact operations. Elemi Remit offers a user-friendly interface and features that streamline workflows, ensuring both operational efficiency and customer satisfaction.


11. Reliability and Speed

Timely payouts build trust. swift and reliable transactions are essential so your clients are never left waiting.



Choosing a payout platform is a pivotal decision for scaling your money remittance business in Africa. By prioritizing localized payment options, competitive costs, security, and scalability,

BOOK DEMO FOR ELEMI PAY. THE PAY OUT SOLUTION FOR MONEY REMITTANCE AND CRYPTO COMPANIES OPERATING IN AFRICA


Comentarios

bottom of page