Naspers-owned fintech firm PayU Global Payments Organisation (GPO) has appointed Ryan Engel as country manager for its South Africa operations.
In addition, the online payment service provider unveiled account-to-account (A2A) payments in Nigeria, amid a rise in alternative payment methods across the region.
In a statement, PayU GPO says Engel will lead its growing footprint in South Africa.
With a background in payments and digital transformation, the new country manager will be responsible for driving local strategy, forging partnerships and strengthening PayU GPO’s regional presence, it notes.
“I’m excited to be joining PayU GPO at such a transformative moment for payments in South Africa and across the continent,” says Engel.
“Consumers and merchants alike are seeking innovative, efficient ways to transact. PayU GPO is perfectly positioned to deliver on that demand, and I look forward to helping shape the future of digital payments in the region.”
PayU GPO’s A2A payment solution allows consumers in Nigeria to pay merchants directly from their bank accounts without the need for a card, according to the statement.
PayU GPO says insights from Black Friday 2024 show a steady decline in traditional card usage, with card transactions dropping from 93% in 2022 to 84% in 2024 in South Africa.
Meanwhile, open banking methods are rapidly gaining traction − CapitecPay transactions grew by 104% year-on-year. Mobile-first purchasing also continues to soar, with 67% of Black Friday transactions taking place on smartphones, it states.
Furthermore, the firm says the A2A payment investment is in line with its broader strategy to drive financial inclusion and modernise the continent’s payment infrastructure.
“Our focus on A2A payments and mobile-first methods is critical to our strategy in Africa,” comments Imraan Appleby, Africa head of product at PayU GPO. “Customers are clearly signalling a demand for faster, simpler ways to pay. Merchants, in turn, need solutions that meet customers where they are.”
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