Grace Ashiru
Kora, a pan-African payments infrastructure, has introduced USD card-acquiring to enable merchants on its platform to accept US dollars. This move aims to allow Kora’s merchants to build truly global businesses, accelerating Africa’s involvement in international trade.
Sandra Israel-Ovirih, in charge of products at Kora, said, “Adding USD card payments has been a top goal for a while. This will change everything for African companies that sell to customers worldwide.
Kora wants to start a multicurrency bank account that lets its merchants use the Kora platform to access GBP, EUR, and GBP banking options.
We want the businesses we work with to grow around the world. “The fact that they can now accept USD is a big step forward in this effort,” said Dickson Nsofor, the CEO of Kora. Kora makes it easy for businesses to accept payments, payout to customers, and settle across multiple payment methods with just one integration.
The company primarily focuses on Africa and wants to help speed up trade worldwide. Even though Africa’s share of world trade is growing, it only accounts for about 3% of all trade. This project is supposed to affect Africa’s role in international trade significantly.
Kora launched several merchant-facing initiatives earlier this year, including changing its name to Kora, changing its domain name to www.korahq.com, and launching a new corporate website. With offices in Nigeria, Canada, and the United Kingdom, it provides a comprehensive payment API for payment collections, disbursements, and cross-border settlements as a pan-African payment infrastructure.
Experts think that Kora’s newest product will significantly affect how much Africa trades with the rest of the world. It is a big step forward that merchants on its platform can now accept payments in US dollars. This will help African companies compete in a global market. This project will help businesses grow worldwide and increase Africa’s share of international trade, currently around 3%.
