Cross-border payment has remained a challenge for over 4.9 million Nigerian businesses. These issues range from foreign currency fluctuations to fragmented payment systems and complex subscription management hindering growth, making it difficult for companies to access essential digital tools, manage international subscriptions, and streamline payments efficiently.
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Many businesses struggle with high transaction fees, limited access to foreign exchange, and delays in processing cross-border transactions, affecting their competitiveness in the global market.
To curb this, Ayode Akinfemiwa, launched Mercurie, a software-as-a-service (SaaS) company specialising in payment and subscription management to help African businesses manage and pay for global digital services using their local currency.
Akinfemiwa, founder of Mecurie, said, “Mercurie simplifies business software payments, eliminating currency conversion headaches for African businesses. Our platform consolidates all business-related digital service payments into one interface, significantly reducing administrative burdens and unlocking cost savings.”
According to the firm, “The service enables businesses to pay for essential tools such as Google Workspace, Google Cloud, and other SaaS applications without the hassle of currency conversion.
The company has also secured partnerships with leading providers, including Zoho, Digital Ocean, Huawei, and AWS. These services will be integrated into the platform in the coming months, further expanding the ecosystem of supported SaaS, cloud, and advertising solutions.
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The World Bank reports that Africa faces some of the highest remittance costs globally, with transaction fees averaging 8-10 percent. Additionally, payment processing delays can stretch over several days, creating challenges for businesses and individuals who depend on timely fund transfers.
The platform eliminates foreign exchange complications and reduces transaction fees, making global services more accessible to African enterprises and driving intra-African and extra-African trade.