Nuvei secures license for local payment services in South Africa

Fintech company Nuvei has secured authorization from the Payments Association of South Africa (PASA) to provide local merchant payment services within South Africa. This expansion is part of the company’s ‘Every Payment Everywhere’ strategy, aimed at extending its local acquiring and payment acceptance infrastructure to major digital commerce markets.

By processing transactions domestically, businesses can potentially improve authorization rates, reduce processing costs, and gain better visibility into transaction performance and fraud management. Nuvei CEO Phil Fayer noted that the move provides opportunities for international brands entering the African region and for South African companies looking to expand globally.

The expansion comes as South Africa’s B2C e-commerce market continues to grow. Research indicates the market reached an estimated $8.48 billion in 2025 and is projected to grow at a compound annual growth rate of 8.3% through 2029, reaching approximately $11.66 billion.