• Firms move beyond payments toward integrated SME platforms

• Services include invoicing, inventory management and merchant tools

• Embedded data supports credit access for underserved businesses

Nigerian fintech Moniepoint announced on March 23 the acquisition of Orda Africa, in a move aimed at enabling restaurants to manage payments, inventory, orders and analytics within a single system, addressing inefficiencies in a sector where many businesses still rely on manual processes.

The deal reflects a broader shift among African fintech companies toward integrated digital platforms that combine financial services with business operations, as competition moves beyond payment processing toward managing daily operations and financial activity.

Flutterwave, for example, has expanded beyond payment gateways to include merchant services, invoicing tools and its “Store” platform, which enables small businesses to create online shops and manage transactions. The company has also introduced lending and treasury services targeting enterprises operating across multiple African markets.

Similarly, OPay has evolved into a broader financial services provider offering digital banking, savings products and merchant services. Its ecosystem integrates payments with agency banking and credit solutions, allowing small businesses and informal traders to access financial services alongside transaction tools.

In East Africa, Safaricom has expanded M-Pesa beyond peer-to-peer transfers to include business management tools, lending products such as Fuliza and merchant payment systems. According to company data, M-Pesa processes billions of transactions annually and has become a core infrastructure layer for both consumers and enterprises in Kenya.

According to the Africa Fintech Market Competition Assessment Report 2025 by Makreo, leading firms are diversifying into merchant tools, credit and enterprise services to strengthen customer retention and expand revenue streams.

The strategy is closely tied to the growing importance of data in SME financing. By embedding payments within operational systems, fintech companies generate real-time insights into cash flows, sales performance and inventory cycles, which can be used to assess creditworthiness and develop tailored lending products for small businesses.

Moniepoint, founded in 2015, processes billions of dollars in annual transactions and serves millions of businesses and individuals across Africa. The addition of Orda introduces sector-specific capabilities that deepen its presence in the food service industry while aligning with a broader strategy of building digital infrastructure for SMEs.

According to the World Bank, small and medium-sized enterprises account for a significant share of employment in developing economies but face an estimated $5 trillion global financing gap. In Africa, limited financial records and informality remain key barriers to accessing credit.

Africa’s large informal sector further reinforces this model. According to the African Development Bank, a significant proportion of economic activity remains informal, limiting access to formal financial services. Digital platforms that integrate payments with business tools are increasingly seen as a pathway to formalization by improving record-keeping and financial visibility.

By Cynthia Ebot Takang