Global payments technology company Cross Switch has partnered with South African fintech firm Paysoft to eliminate digital transaction logjams that hamper local companies. These logjams include payment system downtime and reliability issues, or delayed fund availability.
Cross Switch was founded in 2022, operating across emerging markets, with active operations in the Ivory Coast, Morocco and SA, as well as in Latin America.
It provides solutions that support local and cross-border transactions, with the aim to help merchants, fintechs and non-profit organisations expand reach and streamline operations.
Paysoft was established in 2012, built for South African businesses, with the objective to make payments faster, friendlier and more affordable.
The partnership was established to help South African companies deal with challenges in payment processing, such as high fees, delayed fund availability, regulatory complexity and inefficient workflows.
The partners plan to address these challenges with end-to-end payment orchestration, scalable real-time payment processing, white-label flexibility and enhanced donor infrastructure for NPOs.
They will also leverage Cross Switch’s CS+ platform – specifically its orchestration capabilities – to process online transactions, including card payments, EFTs and Apple Pay.
Paysoft will facilitate the processing of settlement funds for merchants and partners from the Cross Switch collection.
Using the CS+, Paysoft says it will route transactions across multiple banks and providers to ensure uptime, cost-efficiency and fraud prevention.
The companies believe clients can experience reliable transaction processing and automated settlements, and Paysoft says its partners will be empowered to offer branded versions of the platform.
Mark Chirnside, global CRO and CEO Africa at Cross Switch, says: “We’re focused on building payment infrastructure that unlocks opportunity in emerging markets. Partnering with Paysoft allows us to deepen that mission in South Africa by supporting a platform that already understands local business pain points and is ready to scale with smart, secure solutions.”
Rika Kruger, CEO at Paysoft, adds: “We chose Cross Switch because we both believe that payment systems should be seamless, secure and built around real business needs. With their platform behind us, we can offer our clients much better uptime, faster processing and less complex payment routing.”
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