MoneyHash Expands into Africa as MEA’s first Super-API for Payment Operations!
Thursday, October 20, 2022
The Egyptian US-based fintech start-up MoneyHash, launches its services across Africa after a successful launch in MENA earlier this year. MoneyHash allows businesses to remove the complexity and effort of building and maintaining payment infrastructure, flows, and operations using a single API integration.
Just emerging out of beta across Sub-saharan Africa, MoneyHash has pre-built integrations with top PSPs covering over 90 payment method integrations across the region, and adding more PSPs and methods on the go. The new launch includes adding PSPs across Nigeria, Kenya, South Africa, and multiple other markets across the continent.
Earlier this year, MoneyHash launched its product across MENA with 10s of customers now testing and using it. The product allows medium and large businesses to build and grow a provider-agnostic payment stack with minimal to no coding effort. This features a single integration to multiple PSPs, a unified and localized checkout experience, transaction orchestration and recovery of failed payments, and a central dashboard for reporting and reconciliation. It also enables custom use cases such as subscription management, payment links, invoicing, and wallet infrastructures. With its launch in Africa, the product covers the entire MEA area with the largest network of integrations.
Co-founder and CEO at MoneyHash, Nader Abdelrazik, started the company with Mustafa Eid (CTO) and Anisha Sekar (CPO) out of frustration with what businesses must do to scale payment systems in emerging markets.
“There is a lot of exciting growth when it comes to payment and fintech solutions emerging in the region to help businesses grow. But a missing piece of the puzzle is how businesses will adapt their existing solutions to this growth, and how we can move them to adoption without slowing them down. MoneyHash emerged as an operating system of payments to help businesses gain control and navigate the complexity of payments smoothly without hefty engineering and operational time and costs with every incremental decision” said Nader Abdelrazik.
MoneyHash’s Commercial Lead for Africa, Isaac Umejiaku describes MoneyHash as the catalyst for growth in the African business ecosystem. He believes that the payment scene in Africa is already complex with ever-changing policies and no business should spend so much effort on factors they totally can’t control.
“Payment is a key element in any product, but it is not the product itself. We want African builders to focus on building awesome solutions for the continent, and to execute their vision without distractions.”
As a remote-first start-up, MoneyHash’s team is based across key markets such as UAE, Egypt, Nigeria, and South Africa in addition to Europe and the US, and soon Kenya and Saudi Arabia, and Morocco. The Go-To-Market (GTM) teams include product, engineering, design, and commercial which are a critical part of MoneyHash entering and winning in mentioned markets. As the company comes into Africa - they are excited to be part of many African business journeys to make payments frictionless.