Vesicash, a leading financial technology company, announced its expansion to key African markets including Ghana, Rwanda, Kenya, and Egypt. The company also launched its Merchant of Record (MoR) product.
About Its Product Offering
Vesicash’s Merchant of Record product is designed to help businesses quickly scale to other markets by being their Merchant of Record and leveraging its technology to connect African businesses to suitable partners.
Having a Merchant of Record reduces the need for this operational overhead and allows businesses to focus on localising their product, packaging, and marketing, ultimately driving customer acquisition.
Alongside the launch of its MoR product, the company has boosted its escrow technology with new features such as milestone capability, third-party managed escrow, transaction and team-based role assignments.
These new features enable automated payments, faster processing times, and secure payment processing.
What They’re Saying
Tomisin Adeshiyan, Vesicash’s Co-founder and Head of New Market Expansion, says, “We are thrilled to launch our Merchant of Record technology in multiple African markets. Thus, expanding our reach to businesses in Ghana, Rwanda, Zambia, and Egypt. For example, a Nigerian business looking to collect payments from their customers in Ghana or Kenya shouldn’t find it unnecessarily arduous. By empowering African businesses with innovative payment solutions, we’re committed to enabling the growth of their businesses by helping them effortlessly scale into new markets”.
By The Numbers
Founded in 2018, Vesicash aims to catalyse the African digital economy by enabling businesses to pay and securely receive payments digitally seamlessly. Its flagship offering, a digital escrow product, has grown and now serves over 5,000 businesses.
Source: Benjamin Dada
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