For over 4.9 million Nigerian businesses, navigating cross-border payments continues to be a major obstacle due to foreign currency volatility, fragmented payment systems, and complex subscription management. These challenges hinder companies from accessing critical digital tools, managing international subscriptions, and processing payments seamlessly.
Additionally, high transaction fees, limited foreign exchange access, and delays in international transactions further strain businesses, putting them at a disadvantage in the global marketplace.
To address these challenges, Ayode Akinfemiwa launched Mercurie, a software-as-a-service (SaaS) platform designed to help African businesses manage and pay for global digital services using their local currency.
“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,” Akinfemiwa, founder of Mercurie, stated.
According to the company, the service enables businesses to pay for essential tools like Google Workspace, Google Cloud, and other SaaS applications without dealing with currency conversion complexities.
Mercurie has also secured partnerships with major service providers, including Zoho, Digital Ocean, Huawei, and AWS. These integrations, set to roll out in the coming months, will expand the platform's ecosystem to include more SaaS, cloud, and advertising solutions.
The World Bank reports that Africa faces some of the highest remittance costs globally, with transaction fees averaging 8-10%, while payment processing delays can stretch over several days. These inefficiencies create significant barriers for businesses relying on timely fund transfers.
By eliminating foreign exchange hurdles and reducing transaction fees, Mercurie aims to make global services more accessible to African enterprises, fostering both intra-African and international trade.