Payment24, a leading payment and loyalty solutions provider in South Africa, has announced its expansion into North America and Europe, along with ongoing product innovation. The company has launched Cloud Switch, expanded its loyalty platform, incorporated artificial intelligence (AI) into its products and ventured into the electric vehicles (EV) space. This expansion marks Payment24’s presence in five continents and nearly 17 countries, building on its success in Africa and Latin America.
Payment24 has targeted Europe and North America for its expansion, opening an office in Boston in 2022. In response to the growing interest and demand for its solutions, the company plans to release a platform specifically tailored to the North American market within the next six months. Additionally, Payment24 has extended its reach in Europe by investing in a business based in Geneva, Switzerland, which will cater to the needs of the European market.
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Shadab Rahil, CEO of Payment24, highlights the company’s renewed focus and categorization of its offerings, providing clarity on how the platform supports its customers’ businesses. Payment24 has experienced remarkable growth over the past three years, particularly in the banking and oil industries. With the expansion of its platform and modules, the company has made significant progress in the retail, payments acquiring and fleet management sectors, acquiring several new customers. To support this growth, Payment24 has increased its headcount by over 50% in the last two years, with 33% of the team now based outside of South Africa.