SMEs cross-border digital payments get boost as MFS Africa acquires Beyonic

Pan-African cross-border payments leader, MFS Africa, has announced its acquisition of Beyonic, a digital payments management provider of business services for Small and Medium Enterprises (SMEs), fintechs, and social impact entities across Africa. MFS Africa, the continent’s largest digital payments hub, connects more than 200 million mobile wallets on the continent through one API. Meanwhile, Beyonic focusses on domestic payments and collections coupled with secure front-end business functionality. This deal, which is subject to regulatory approval by the Fair Competition Commission in Tanzania, will provide the growing micro, small, and…

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