Kora prioritises global payments with new USD card-acquiring feature

Kora, a payments provider headquartered in Nigeria and operating across Africa, has launched a new feature to allow its merchants to receive payments in US dollars. This move is part of the company’s wider strategy to expand its global reach and support African businesses in international trade.

Since its establishment in 2018, Kora has focused on improving payment services for Africans by offering cross-border payment solutions that reduce the cost and complexity of transferring money to and from the continent.

Originally, Kora’s platform facilitated money transfers from Africans living abroad to recipients in Africa. However, the company has since grown into a comprehensive payment infrastructure that enables both local and international businesses to make and receive payments within and beyond Africa.

Kora’s Payin service allows merchants to receive payments from customers using popular methods such as mobile money, bank transfers, and cards.

The company has now introduced a USD card-acquiring service to its suite of currencies, which includes NGN bank account issuing, pay-ins, payouts, and cross-border settlement across multiple countries.

This new feature will enable merchants to receive payments in US dollars, making it easier for African businesses to participate in global trade.

Sandra Israel-Ovirih, the Head of Product at Kora, highlighted that incorporating USD card payments has been a priority for the company for some time. Kora recognises that many businesses operate on a global scale and require a seamless payment system to handle cross-border transactions.

According to her, the introduction of USD card-acquiring will be a game changer for African businesses that sell to a global market, enabling them to create truly global businesses.

By launching USD card-acquiring, Kora aims to improve merchants’ experiences and enhance Africa’s participation in global trade.

The move is in line with the company’s strategy of providing cross-border payment solutions that simplify the process of transferring money to and from Africa, ultimately making it easier for African businesses to thrive in the global market.