Peach Payments

About Peach Payments

Peach Payments is a digital payment service provider that offers a comprehensive toolkit for businesses in Africa to accept, manage, and disburse payments through web and mobile platforms. Founded in 2012 by Rahul Jain and Andreas Demleitner, the company was established in Cape Town, South Africa, to address a gap in the market for a trustworthy and scalable payment gateway. The founders, who met by chance in South Africa in 2009, combined their complementary skills and shared vision to revolutionize the online payment landscape. Jain, with a background in strategy consulting for e-commerce and airlines, and Demleitner, an experienced tech entrepreneur and investment professional, identified the need for better online payment processing for African merchants.

The company's journey began with participation in the 88MPH accelerator program in 2013, which helped establish its platform. A significant growth phase occurred during the 2020 pandemic, which accelerated e-commerce adoption and led to a substantial increase in transaction volumes. This period was supported by early-stage funding from investors like Allan Gray and UW Ventures. A major milestone was achieved in April 2023, when Peach Payments secured $31 million in a Series A funding round led by Apis Partners, aimed at accelerating expansion into more African markets and investing in technology. The company now operates in South Africa, Kenya, and Mauritius, serving a wide range of clients from small and medium-sized enterprises to large retail groups like Shoprite and Pepkor.

Peach Payments functions as a payment orchestrator, simplifying the complexities of the fragmented African payment ecosystem for merchants. The business generates revenue by providing a suite of payment solutions that enable businesses to accept a diverse array of payment methods. These methods include credit and debit cards, instant Electronic Funds Transfer (EFT), Buy Now, Pay Later (BNPL) options, scan-to-pay, digital wallets, and even cryptocurrency. The platform is designed for seamless integration with major e-commerce platforms like Shopify, WooCommerce, Wix, and Magento, and also offers a modern API for custom integrations. Key product features include an on-site payment pop-up to reduce checkout friction, recurring billing for subscription-based businesses, payment links, and multi-currency selling capabilities. Security is a core component of their offering, with PCI DSS compliance and advanced fraud detection tools to protect transactions.