Best Payment Providers Africa 2023
For this list, we have searched and tested several Payment Service Providers in Africa for Forex Trading.
In our research, we selected the best Payment Providers Africa in 2022. We have also researched and presented the ways and solutions to choose the best Back Office Technology for Forex trading.
What is Payment Service Provider in Africa for Forex Trading?
In recent years, Forex trading has become increasingly popular in Africa. The most reputable market regulators like FSCA, CMA, CBN, and more are based here making it one of the safest places to trade Forex. In Africa, Forex brokers are required to obtain a license from the relevant authority to operate legally. There are many reputable international and local Brokerages available in the region.
In Forex trading Payment Service Providers offer gateway for brokers to transfer fund to and from the trading account. The most used and popular are bank transfers, cards, and e-wallets like Skrill, Neteller, PayPal, etc.
There are many Payment Service Providers in Africa for Forex trading. These providers offer convenient and safe ways to process payments and provide fast processing times. Some of the most popular payment methods in Africa include PayPal, Flutterwave, VoguePay, PayFast, etc. These providers offer a high level of security and speed, making them ideal for Forex trading.
Here is the list of some popular Payment Methods in Africa:
|Payment Methods||Fees||Processing Time||Availability|
|PayPal||Up to 3% Fees and Commission on Each Transfer||1-3 Business Days for Deposit and Withdrawals||Available in 50 African Countries|
|Flutterwave||1.4% for Local Transactions and 3.8% for International Transactions||Up to 10 Business Days for Withdrawals to Process||Available in 34 African Countries|
|VoguePay||1.5% for Local Transactions and 3.8% for International Transactions||Instantly||Available in Most African Countries|
|PayFast||3.5% Plus R 2.00 Per Transaction||2 Working Days for Each Payout||South Africa|
Best Forex Providers of Payments in Africa
There are many Payment Providers in Africa for Forex trading today. Each provider has its strengths and weaknesses, so it is important to select one that best suits your business or broker’s needs and has a proven track record of success.
To pick the Top Trading Payment Providers in Africa, we searched and tested several options and here we provide the list that we selected as the best:
- PayGate – Best Payment Provider in South Africa
- VoguePay – Best Payment Service Provider in Nigeria
- Pesapal – Best Payment Service Provider in Kenya
- Paystack – Best Payment Gateway Provider in Ghana
- 2Checkout – Best Payment Gateway Provider in Oman
Africa Payment Service Providers List
When deciding on the best Payment Service Providers in Africa for brokers, there are a few important factors to consider: security features, reputable providers, and the solutions and fees offered by the providers.
Here we provide the list of Top Payment Gateway Providers in Africa for Forex trading:
|PayPal||PayPal Balance, Bank Account, PayPal Credit, Debit/Credit Cards, Rewards Balance, etc.||Up to 3% Fees and Commission on Each Transfer|
|PayGate||Batched Payments, Business Funding, Card Payments, etc.||Starting From $10.00/Month|
|Flutterwave||Checkout, Transfers, Invoices, APIs, Debit and Credit Cards, etc.||1.4% for Local Transactions and 3.8% for International Transactions|
|PayFast||Payment Methods, Onsite Payments, Invoicing, PayFast Dashboard, etc.||3.5% Plus R 2.00 Per Transaction|
|2Checkout||Software/SaaS, Online Services, B2B Commerce, B2C Commerce, etc.||3.5% + $0.35 on Each Transaction|
|VoguePay||Payments for Businesses, Payment Methods, Business Funding, etc.||1.5% for Local Transactions and 3.8% for International Transactions|
FAQ and More on Payment Service Providers
In this part, we gather common questions about the Forex payment service providers. Usually, there are many payment provider-related questions and here we assist in that.
Each service provider has its advantages and disadvantages. You need to consider your goals and objectives before deciding which one is right for your business.
How to Choose Back Office Technology?
There are a few factors to consider when choosing a Back Office Technology for your business or brokerage company. You should select one based on your needs and the solutions that the technology offers. Here we listed a few important factors you need to consider while choosing a back office technology for Forex trading:
- Execution Speed
- Order Management
- Risk Management
What are Most Convenient Electronic Payment Service Providers in Africa?
In Africa, there are a few main electronic payment service providers that are convenient to use. To pick the most convenient electronic payment providers in Africa, we searched and tested several options and here we provide the list that we selected as the best:
- Rand Merchant Bank
- Orange Money
- MTN Mobile Money
PayPal Payment Service Providers
PayPal is a leading payment service provider in Africa. It offers a safe, convenient, and easy way to send and receive payments online. PayPal is available in all major African countries, including Nigeria, Kenya, and South Africa.
PayPal and African payment provider Flutterwave, are in cooperation today making it easier for businesses and brokers in Africa to access global markets. Under the agreement, Flutterwave enables businesses to use PayPal to send and receive payments in local currencies.
Author of this review
By George Rossi
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.
Now I am passionate about reviewing and comparing forex brokers.
Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology