Business

Real-time payment systems can potentially rival cash transactions and encourage digitisation of informal trade.

The African commerce market holds massive potential, and could reach $3tn annually by the turn of the decade, says McKinsey. But unlocking that value is not a foregone conclusion, and payment facilities will need to improve inside African countries. Local consumers and businesses use a variety of payment methods, from cash and electronic payments to mobile transactions and the emerging crypto market. Revolutionising this space can unlock the continent's considerable spending power.

Sandeep Chagger, group chief operating officer at Peach Payments, says it’s constantly trying to understand the payment challenges that merchants are facing. Peach Payments, founded in South Africa, is among a cohort of fintechs bringing more choice to African transactions. It provides merchants with multiple payment channels, including cryptocurrencies, which it added in June 2025. The underlying strategy is straightforward, says Chagger.