MoneyHash secures $4.5M in funding for innovative payment orchestration platform benefiting MENA merchants

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The payment landscape in the Middle East and Africa (MEA) region is marked by significant fragmentation, with numerous payment providers and methods in each country, evolving regulations and diverse customer preferences. This complexity is further compounded by challenges such as payment fraud, low checkout conversion rates, and high transaction failure rates. Payment orchestration platforms streamline payment processes for merchants through unified payment APIs. As merchants or companies launch their platforms, they often start by collaborating with one or two payment processing providers. As their operations grow and expand into multiple regions, they onboard additional payment providers to meet their evolving needs.

Google Pay Expands QR Payment Offerings to Local Indian Merchants Following Successful Trial Period

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Google said Thursday it plans to roll out the SoundPod, its portable speaker designed to instantly validate and announce successful payments, to small merchants across India over the coming months. The Google Pay expansion in India, where the company is among the mobile payment market leaders, comes even as the firm winds down some of its payments apps in the U.S. The sound-box was invented to serve small Indian merchants unable to afford regular point-of-sale devices but accepting of UPI payments. The company said merchants who use SoundPod to process 400 payments in a month will get $1.5 in cashback. Reliance, India’s largest firm by market cap, also began testing a similar device at its campus last year, TechCrunch earlier reported.

Boosting Export Platform: TUNL Secures Funds for South African E-Commerce Startup

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TUNL, a South African parcel shipping platform, has secured $1 million in pre-seed funding from investors, including Founders Factory Africa, Digital Africa Ventures, E4E Africa, and Jozi Angels. The current challenges in cross-border shipping cost African businesses an estimated $50 billion annually in missed opportunities. TUNL’s founders identified a recurring issue among small- and medium-sized South African merchants during the pandemic: Shipping costs sometimes surpassed the value of their products. On the TUNL platform, merchants offer customers various shipping options during checkout. South Africa is known for its wine industry, with exports reaching 368.5 million liters last year.