Sylvia Duruson
Pyvio, a Hong Kong-based fintech company, has joined forces with Kora, a pan-African payment infrastructure provider. This partnership aims to enhance payment capabilities for Chinese B2B e-commerce and media companies operating in Africa. The collaboration addresses a significant challenge in the African market: the complexity of B2B cross-border payments for global companies.
Africa’s diverse regulatory frameworks often pose obstacles for businesses seeking to expand on the continent. Pyvio and Kora’s alliance promises to simplify this process. Chinese e-commerce businesses will now have expedited access to compliant payment rails across various African markets.
Li Kai, CEO of Pyvio, emphasized Kora’s deep understanding of the African payments landscape. This expertise is crucial in helping Chinese e-commerce merchants overcome barriers to scaling in Africa. Li views this partnership as a significant milestone in Pyvio’s global expansion strategy. It enables the company to offer “Glocal” payment methods tailored for Chinese businesses operating in African markets.
The collaboration between Kora and Pyvio isn’t new. They have already been processing payments for major platforms like Jumia, WeChat, and TikTok. This existing relationship has laid a strong foundation for their expanded partnership.
Dickson Nsofor, CEO of Kora, highlighted the benefits of Pyvio’s solution. It opens up new payment capabilities for Chinese companies, including enhanced pay-ins, payouts, cross-border payments, and card issuance. Nsofor expressed enthusiasm about partnering with Pyvio to create localized payment experiences for Chinese businesses in Africa.
With Kora’s payment engine, Pyvio now offers B2B cross-border payment services in over 25 African countries. Key markets include Nigeria, Ghana, Kenya, and South Africa. This extensive coverage significantly expands the reach of Chinese companies in Africa.
Kora’s role in this partnership is pivotal. As a pan-African payment infrastructure, it provides a comprehensive payment API for various transaction types. This includes pay-ins, payouts, and cross-border settlements. Kora’s services are designed to facilitate rapid scaling for global companies across Africa. Through a single integration, businesses can access a wide array of payment channels for accepting payments, making payouts, and settling transactions.
Pyvio brings its own strengths to the table. The company focuses on technological innovation in financial services infrastructure. Its mission is to empower businesses to thrive in the evolving cross-border economy. While Pyvio maintains a strong presence in Europe and America, its commitment to emerging markets sets it apart. The company has a particular focus on Southeast Asia, Latin America, and Africa.
This partnership represents a significant development in the African fintech landscape. It addresses the growing demand for efficient, compliant, and localized payment solutions for international businesses. By combining Pyvio’s innovative approach with Kora’s deep African market knowledge, the collaboration promises to streamline operations for Chinese companies in Africa.
The initiative is particularly timely given the increasing economic ties between China and Africa. As Chinese businesses continue to expand their presence on the continent, efficient payment systems become crucial. This partnership not only facilitates easier transactions but also has the potential to boost trade and economic cooperation between China and African nations.
