November 16, 2013
Peach payments was founded by Rahul Jain and Andreas Demleitner in the year 2011. The company has received over $1 Mn in funding from 88mph. Peach payments says that their solution makes it easier for online and mobile businesses to accept payments from consumers in the developing markets.
Peach Payments provides payment solutions to online and mobile businesses enabling them to easily accept Payments from customers. It allows merchant access to all relevant payment methods including credit, debit cards, bank transfers, mobile wallets and mobile operator billing to help them succeed in the emerging markets in Africa, South America and East.
Features of Peach Payments:
Helps monetise any digital business.
Enable single click payment solutions.
Peach payment allows users to manage their subscription plans and automate the payments according to the plan.
Credit Card storage vault enables user to avoid PCI compliance processes by using their embedded hosted payment page on users website to collect sensitive cardholder data.
Peach Payments also provides merchants with access to an advanced and intuitive Business Intelligence Portal (BIP) where they can view, reverse and refund all their transactions across both mobile and web platforms.
Other companies operating in the African payment solution space include Paygate, PayGenius, PayU, Payfast, Setcom and Netcash. Paygate merchant services was founded by Peter Harvey in the year 1996. It is an international payment solution provider with its payment gateway and credit card processor linked to more than 70 banks in over 30 countries. The company provides online payment solutions, credit card Processing, online fraud prevention-commerce payments.
LTP View: At present there are many players operation in the payment solution space. Lack of advanced payment platforms in Africa however offers Peach Payments a huge growth opportunity. BIP provides merchants with payments analytics tools helping them easily analyze their sales performance. Peach Payment’s solution is highly scalable and could meet the needs of fast growing online and mobile businesses.