Why Are Cross-Border Payments So Hard?

The Flip

Benjamin Fernandes, the Founder and CEO of the remittance platform NALA, likes to say that payments are just 1% built in Africa.

Why are cross-border payments so hard?

In this episode, we're joined in conversation with Benjamin Fernandes and Dan Kleinbaum, a co-founder of Beyonic, which sold to Onafriq, and now the Founder of the FX platform GTXN.

This episode was recorded live from the FT Partners Fintech in Africa Summit in New York City. Download their FinTech in Africa research report, published in March 2024.

00:00 - Intro
01:29 - Payments are 1% built in Africa
06:32 - How to solve problems in Cross-Border payments
08:28 - Do we need more payment apps?
15:51 - Navigating regulatory challenges
17:03 - Why are Benji & Dan solving these problems?
20:30 - What's the cross-border payments pitch to investors?
25:39 - Benji & Dan turn the tables on Justin

This episode was the second in our series of interviews recorded live from the Fintech in Africa Summit. Our first episode was with the Nigerian Neobanks: https://theflip.africa/podcast/nigerian-neobank-roundtable-moniepoint-kuda-fairmoney

Episode Links:
Follow Benji on Twitter
Follow Dan on Twitter
Read Benji's Medium post: Are African Remittances Finished?

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