Ecommerce.co.za

Payfast rebrands to Network International

Payfast, the company, has rebranded to become Network International. Payfast, the popular online ecommerce payment platform, is now ‘Payfast by Network’ – bringing the platform under Network International’s wide range of payment solutions, while offering the same established Payfast experience.

“Our partners, merchants, and consumers can expect the same quality payment experience from the ‘Payfast by Network’ ecommerce solution. This platform significantly expands the resources at our disposal to deliver innovative, best-in-class products and services to help South African businesses grow to their full potential,” says David Adams, the Southern Africa Regional Managing Director at Network International.

Payfast, a provider of fast and secure ecommerce payment solutions to the South African market since 2007, was acquired by the Network International group in 2021. As the leading enabler of digital payments in the Middle East and Africa, Network International has rebranded the payment processing company Payfast into the ‘Network International’ parent brand, as it intensifies efforts to introduce new digital payment propositions in South Africa.

“At Network, our offering is centred around a unified payments experience that allows merchants across Africa to provide their customers with the fastest, most frictionless checkout process possible. Leveraging access to the vast Network ecosystem of global expertise, resources, and capabilities, we can ensure that the breadth of payment methods is available to end-consumers, regardless of whether they are buying online or in-store, and that our products and services will continue to grow and keep pace with evolving market needs,” adds Mpho Sadiki, the Group Managing Director for Merchant Services in Africa (excluding Egypt) at Network International.

Network International has been enabling the transition from cash to digital payments across the Middle East and Africa for over 30 years. Network currently supports more than 120 000 merchants and over 200 financial institutions and fintech customers in 50 countries. It is the only pan-Africa digital payments player with a presence in more than 40 countries, including the major markets of South Africa, Egypt, Kenya, and Nigeria. Network covers over 80 percent of the African population, supporting and advancing Africa’s Financial Inclusion journey.

Network remains committed to empowering South African businesses, leveraging the local team’s in-depth knowledge of the local economy; “Payments is a local business – you can’t service a market like South Africa from afar. There are a range of unique challenges, which we monitor and build our solutions around. We believe that to be a local operator, you need to be on the ground, which is why all of our offices and core staff are stationed here, so that we can offer a world-class localised service,” says Adams.

The maturation of Payfast into a Network solution reinforces expectations of exponential growth in South Africa’s digital payment landscape over the next few years.


Useful resources:
Payfast
Payfast is a payments processing service that enables South African merchants to receive payments from local and international buyers.
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