13 Sep eCommerce Companies Most Effective With Settlements In Local Currency: South African Rands, Kenyan Shillings, Nigerian Naira.

When it comes to online payments, eCommerce merchants expanding to South Africa, Nigeria and Kenya need to consider the implications of acquiring and local currency.  It's important to price goods in local currency on a website that's specifically customised for the specific market.

A higher conversion rate is achieved when a local bank and merchant account is used for acquiring. This makes a big difference in terms of conversion rate.  International merchant accounts run the risk of cards being declined as a result of blocked IP’s for African jurisdictions. This can be very frustrating for consumers who are paying online at international brand eCommerce websites.

African Payment Solutions provides merchant facilities in Kenya supporting Kenyan shillings and USD, in Nigeria merchants can accept USD or Naira.   This provides a user-friendly, seamless checkout and settlement. The funds are collected into African Payment Solutions aggregator account and then repatriated to the merchant’s desired jurisdiction in the currency of choice.

In some instances a local legal entity is required and in others, not.  Where a local legal entity is established ( African payment Solutions can help with this), payment will be made to that local entity, and where there is no local entity requirement, funds can be remitted back to the jurisdiction of choice.

If you are a multinational eCommerce company looking for a Payment Service Provider in Africa to do your acquiring or mobile money acceptance for your online payments in Kenya, Nigeria and South Africa, in Kenyan shillings or USD, Naira or USD, or South African in Rands then contact us now.