On Friday, SPAYZ.io, a prominent fintech company specialising in payment technologies, announced its strategic expansion into Africa. The company is developing localised payment solutions in South Africa, Egypt, and Cameroon to accommodate rising demand for digital financial services.
This expansion reflects SPAYZ.io’s dedication to providing seamless, secure, and convenient payment options tailored to the unique needs of African consumers and businesses.
SPAYZ.io localises payments for South Africa, Egypt & Cameroon
SPAYZ.io’s entry into South Africa will focus on enabling EFT bank transfers, complementing the country’s already robust card payments market. According to a recent report by Statista, South Africa’s card payments market is expected to exceed $158 billion by the end of 2025.
This growth is driven by increasing smartphone penetration and consumer preference for digital transactions. SPAYZ.io’s platform will allow businesses to accept payments directly from bank accounts, reducing reliance on cards and improving transaction efficiency.
The digital payments market in Egypt is rapidly expanding, with projections indicating it will surpass $104 billion by 2030. SPAYZ.io plans to introduce payment solutions that cater to this growth, including mobile wallet integrations and localized payment gateways.
The company’s approach supports Egypt’s vision of becoming a cashless society by encouraging digital transactions among consumers and merchants.
Cameroon presents a unique opportunity due to its dominance in mobile money transactions within the Central African Economic and Monetary Community (CEMAC). Mobile money accounts for 71 percent of all transactions and 53 percent of transaction value in the region.
SPAYZ.io will leverage this trend by enabling mobile money pay-in and pay-out services, allowing users to transact easily without traditional banking infrastructure. This move is expected to boost financial inclusion and support small businesses in Cameroon.
Dmitrii, Head of Strategic Partnerships at SPAYZ.io, stated, “We don’t rush expansion. We build it. Africa is a priority because of its tech-driven consumer growth.” His words highlight the company’s methodical approach to entering new markets, focusing on understanding local regulations and consumer behavior to create sustainable payment ecosystems.
SPAYZ.io accelerates digital payments in Africa
SPAYZ.io’s expansion into these three countries is part of a broader strategy to tap into Africa’s fast-growing digital payments economy. The continent’s digital payments market is forecasted to reach $1.5 trillion by 2030, fueled by increased internet access, smartphone use, and government initiatives promoting cashless transactions.
Already active in Nigeria, Ghana, Congo, and Kenya, SPAYZ.io offers a range of payment solutions, including mobile money, card payments, and bank transfers.
Eliza Simon, Head of Key Account Management, emphasized, “Africa is a core part of our strategy. We are actively seeking new countries and payment integrations so that our partners can tap directly into a burgeoning consumer market.” This aggressive expansion strategy aims to give businesses the tools to connect with millions of digitally savvy consumers.
Stanislav Titov, Business Development Manager, added, “The rise in digital adoption, improved infrastructure, and a digitally enabled urban population are driving the demand for online payment options.”
SPAYZ.io’s participation in major industry events like the Finance Magnates Africa Summit in Johannesburg (May 29–30, 2025) and SiGMA Africa in Cape Town (March 10–12, 2025) underlines its commitment to engaging with local fintech communities and stakeholders.