Shadab Rahil, Payment24 joint-CEO.

South African-headquartered tech firm Payment24 has entered the North America and Europe markets as the company continue to pursue its growth plans.

Cape Town domiciled Payment24 - a global platform provider specialising in payment and loyalty solutions- announced the expansion into the two markets today.

The company focuses on IT research and development projects within the main focus areas of Fleet Management Systems, Payment Systems, Mobile Solutions, and Retail Solutions.

In a statement, Payment24 says it has successfully expanded its business operations across multiple industries and geographic locations, achieving growth in five continents and nearly 17 countries.

To this end, the company says, following on its success in Africa and Latin America region, its sights are now set on Europe and North America.

Payment24 has since opened its doors in Boston and says “based on the growing interest and demand for its solutions, a platform specifically tailored to the North American market will be released in the next six months.”

Further, the tech firm says, it has extended its “reach in Europe with the investment in a business based in Geneva, Switzerland, from which it will serve the needs of the European market.”

Shadab Rahil, Payment24 joint-CEO, comments: “We have experienced exceptional growth over the past three years and continue to enjoy significant success in the banking and oil industries.

"Since the expansion of our platform and the modules we provide, we have made notable inroads into the retail, payments acquiring, and fleet management space, having secured several new customers in these sectors over the last two years.

“To support this growth, we have more than doubled our headcount in the last two years, and because more than 50% of our business comes from outside the South African borders, 33% of our team is now based outside of the country.

He adds: “As an research and development company, Payment24 invests heavily in our development teams, which is quickly being matched by a growing support team, especially in Central America, as demand mounts for localised support in each country we operate.”

Furthermore, Payment24 says, to support the growing global demand for alternative fuel and energy sources, it recently developed and enabled modules and support for electric vehicles on its platform.

"It's important to meet your customers where they are and simultaneously offer them a roadmap for the future of their business while melding this with future technologies. 

"This approach provides stickiness between you and your customers while ensuring you can walk a longer road with them,” says Nolan Daniel, joint-CEO at Payment24.

“Another key evolutionary step for us is identifying the effective and ethical use of artificial intelligence across our entire platform. 

"We are already looking at improving automation and elevating the customer experience using AI and believe this will become an essential part of the future of Payment24.”