How to Accept Mobile Money, Cards, and Cash on One Platform, According to Zoyk – IT News Africa

Payments in Africa are as diverse as the markets they serve. From mobile money and Point-of-Sale (POS) systems to cards and cash, businesses today have more ways than ever to get paid.

Cash still dominates, accounting for over 90 percent of everyday transactions, but mobile money platforms processed more than $1.4 trillion in 2023, showing how digital payments are redefining commerce.

POS adoption is also rising, growing at 18 percent annually, while card usage remains relatively low, but increasingly vital for cross-border trade and enterprise transactions. Together, these channels represent Africa’s dynamic payment ecosystem.

But can businesses in Africa bring mobile money, cards, and cash together on a single platform and, more importantly, why is that necessary?

Too Many Systems, Too Little Efficiency

From retail outlets in Lusaka to logistics firms in Johannesburg, many African businesses still use separate tools for each payment channel, including mobile money for everyday customers, card terminals for corporate clients, and cash for informal markets.

The result is predictable:

• Fragmented reporting across wallets, POS systems, and bank accounts.
• Inconsistent settlement times, which strain liquidity and delay payouts.
• Higher transaction costs, as each provider charges its own processing fees.

Across Africa, business payment costs range from 0.5 to 10 percent per transaction, depending on the provider and volume. Platforms like MTN MoMo charge around 0.75 percent for higher-value transfers; fees that quickly add up for high-volume merchants.

An integrated system changes this dynamic. By consolidating all payment methods into one platform, businesses can reduce manual reconciliation, streamline operations, and provide customers with the freedom to pay however they prefer, instantly and securely.

How Integrated Payment Platforms Work

B2B payment platforms like Zoyk are redefining how businesses in Africa manage transactions. Here’s how integrated systems bring mobile money, cards, and cash under one connected framework that works across industries and borders.

1. One Connection, Every Payment Method

Integrated payment platforms combine multiple channels, mobile wallets, card networks, and cash-based POS systems through a single interface or API.

This means a business can accept Airtel Money, MTN MoMo, EcoCash, Orange Money, and other regional wallets alongside Visa or Mastercard payments, without needing separate integrations or vendors.

Today, Airtel Money serves over 31 million customers, MTN MoMo has more than 72 million active users, and Orange Money processes over $190 billion annually. These figures highlight how central mobile money has become to African commerce.

By connecting these systems to one platform, businesses can centralize monitoring, reporting, and settlement across both physical and digital touchpoints.

2. Real-Time Settlement and Reconciliation

Integrated platforms record and reconcile every transaction automatically, from mobile top-ups to card swipes, helping businesses reduce manual accounting and errors.

This not only shortens settlement times but also improves financial visibility, allowing organizations to know exactly when and where funds are received.

3. Security and Compliance by Design

Modern payment platforms are required to meet international data security standards such as PCI DSS certification. Many also embed fraud detection and AI-driven risk monitoring tools that track transaction patterns in real time, flagging anomalies before they become losses. These safeguards are critical as more payments move online and regulatory oversight strengthens across African markets.

4. Scalable Infrastructure for Every Business

An integrated payment system isn’t just about accepting multiple payment types; it’s about adapting as businesses grow. Platforms typically enable companies to add new services, such as bulk payouts, subscription management, QR code payments, or virtual accounts, without requiring them to rebuild their infrastructure. This scalability supports everyone from small retailers to enterprise-level operations expanding across borders.

Save Time and Money for Your Business with Zoyk

Zoyk enables businesses across Sub-Saharan Africa to collect mobile money, card, and cash payments through a single, API-driven platform built for African markets.

With real-time settlement, automated reconciliation, and PCI DSS-certified security,  businesses gain faster access to funds,  complete visibility and better compliance.

As Vadim Mildov, Executive Chairman at Velex Group, explains, the next leap in Africa’s payment evolution will come not from more tools, but from smarter infrastructure:

“Africa doesn’t need more payment systems; it needs connected ones. The ability to link mobile money, cards, and cash on a single platform is what will unlock real inclusion and lower costs for merchants.”

Zoyk, a Velex Group portfolio company, reflects this philosophy, delivering not just convenience but strategic advantage through faster settlements, fewer reconciliation errors, and lower transaction costs.

From mobile money to cards to cash, Zoyk makes it possible to accept them all on one platform, securely, efficiently, and at scale.

Contributing Author:

Mercy Tepula

Financial Accountant, Zoyk