Paycorp, a global company in payment solutions, is at the forefront of shaping the future of payments across Southern Africa, Central and Eastern Europe, and the UK.
With a steadfast commitment to innovation over its two-decade journey, Paycorp integrates expertise, reliability, and agility into its comprehensive suite of services. These include transaction processing, cash management solutions, and cutting-edge offerings like cardless transactions and cryptocurrency solutions. The latest addition to its repertoire is embedded business funding.
Over the past year, Paycorp’s Capital Express has revolutionized business funding in South Africa by partnering with Retail Capital, a division of TymeBank, to provide instant working capital of up to R1 million. Leveraging historical ATM transaction data, this initiative has empowered businesses with accessible financing tailored to their operational needs.
Internationally, Recap Global – a joint venture incubated by Paycorp and Retail Capital – has introduced its funding platform in the UK. Recap utilizes transaction data from diverse payment partners, including ATMs, point-of-sale systems, and e-commerce platforms, to offer real-time, pre-approved funding. This innovation is underpinned by an advanced credit risk engine, ensuring a seamless experience for UK businesses seeking short-term working capital.
Merchants receive a customized and secure offer URL, following a simple three-step process to receive same-day funds. Fees are transparent, determined upfront as a percentage of daily sales, and deducted from daily settlements over flexible payment terms. Recap boasts 15 partners across 12 industries in four markets.
“We’re delighted to partner with payment platforms, enhancing their merchant offering and increasing loyalty with turnover-based business funding,” says Jonathan Field, Recap’s MD. “Eligible customers can get truly pre-approved, frictionless funding at the click of a button, eliminating rejection anxiety and empowering businesses to capitalize on growth opportunities amid challenging economic circumstances.”
“Paycorp’s technology platform is the backbone of our payment ecosystem, enabling low-cost global transaction processing from our South African hub,” says Steven Kark, Paycorp co-founder and CEO. “Paycorp has evolved from a South African ATM business into an international payments provider, seamlessly moving into multiple payment verticals and geographies and is a partner of choice for businesses to elevate their payment capabilities and expand globally.”
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Established in 1999, Paycorp has 24 years of expertise in payments innovation with operations globally. It is a trusted and strategic long-term payment partner to industry players, including banks, card associations, payments bodies, and regulators, and boasts noteworthy client portfolios in multiple markets. Paycorp processes more than 250 million transactions annually, exceeding US$9 billion in value. It operates in seven countries, employs over 400 staff, and facilitates seamless transactions for millions of people worldwide.
