China-based fintech platform XTransfer is accelerating its growth into Africa after recording greater than 300 per cent development within the area final yr, as small and medium-sized enterprises (SMEs) more and more search quicker and cheaper methods to deal with cross-border commerce funds, in line with a senior chief on the agency.
With commerce between Africa and international manufacturing hubs on the rise, the corporate is positioning its digital cost infrastructure as an answer to boundaries that make worldwide transactions gradual, complicated and costly for smaller companies.
Based in 2017 in Shanghai, XTransfer operates a world B2B cross-border cost platform that permits SMEs to ship, obtain and handle worldwide commerce funds extra simply and at decrease value. The platform connects companies to international banking networks, permitting them to pay suppliers, obtain funds from abroad consumers and handle overseas change with out counting on conventional financial institution switch programs.
Talking with The New Occasions on March 11 in the course of the third version of the Inclusive FinTech Discussion board (IFF) 2026 in Kigali, Neil Ni, Chief Technique Officer of XTransfer, outlined the corporate’s technique for Africa and the way new cost applied sciences might enhance cross-border commerce for small companies.
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The occasion focuses on advancing monetary inclusion by means of fintech innovation and partnerships.
Persistent challenges, together with expensive charges, in cross-border funds
Regardless of fast development in digital monetary providers globally, cross-border transactions for businesses–particularly SMEs–remain complicated and expensive in lots of creating economies.
In line with Ni, conventional business-to-business cross-border funds nonetheless rely closely on financial institution remittances that go by means of a number of correspondent banks, creating delays and better prices.
“Complicated procedures, delayed settlements and excessive transaction prices can severely pressure SMEs’ monetary well being,” he defined.
“Their enterprise relies upon closely on the well timed circulation of products and capital.”
Funds processed by means of standard banking programs can take 5 to seven days to settle as a result of involvement of a number of middleman banks. Charges sometimes vary between three and 5 per cent of the transaction worth.
Provided that common B2B commerce funds vary between $15,000 and $20,000, such prices can considerably have an effect on SMEs that always function on revenue margins of round 10 per cent.
“These boundaries immediate some SMEs to show to underground banks and different unlicensed service suppliers. That raises critical considerations round compliance, transparency, and danger administration,” he mentioned.
A fintech mannequin targeted on easing prices for SMEs
XTransfer goals to handle these challenges by providing cross-border cost providers tailor-made to SMEs engaged in worldwide commerce.
XTransfer’s enterprise mannequin is designed to cut back the price of cross-border funds and overseas change transactions for companies utilizing its platform, in line with the corporate. It indicated that transfers between customers on the XTransfer platform are freed from cost. When each the client and the vendor maintain XTransfer accounts, the corporate doesn’t apply any transaction charges for sending or receiving funds.
In instances the place both the client or the vendor doesn’t have an XTransfer account, the platform fees a small flat price per transaction. As per the corporate, the price sometimes quantities to just a few US {dollars}, which they are saying is considerably decrease than the costs utilized by conventional banks and may scale back remittance prices by as a lot as 95 per cent.
XTransfer additionally offers overseas change providers instantly by means of its platform. Companies can convert currencies at charges the corporate says are extremely aggressive in contrast with standard banking providers, doubtlessly permitting shoppers to chop overseas change prices by as much as 80 per cent.
Ni defined that digital funds usually fall into two classes: B2C funds made by customers by means of e-commerce platforms and B2B funds between firms for items and providers.
Whereas B2C funds have grow to be streamlined by means of platforms linked to firms akin to Amazon and Shopify, B2B funds stay largely depending on conventional banking channels.
“Our mannequin is to supply SMEs with a brand new method to acquire and pay for cross-border commerce,” he mentioned.
The corporate companions with main international banks together with JP Morgan, Deutsche Financial institution, Barclays, HSBC and Customary Chartered, alongside regional monetary establishments in rising markets.
In Africa, XTransfer has collaborated with establishments akin to Ecobank and Axis Financial institution to assist join native banking programs with worldwide commerce networks.
Fast development and international attain
Demand for simplified cross-border cost options has pushed fast development for the corporate.
Ni mentioned XTransfer processes about $15 billion in transactions every month whereas sustaining a year-on-year development fee near 100 per cent. The platform serves shut to 1 million SMEs globally, with about 55 per cent of retailers primarily based in China and 45 per cent working internationally.
The corporate employs roughly 4,000 folks and plans to recruit an extra 1,500 workers as a part of its international growth technique. It operates in additional than 200 markets and serves greater than 800,000 company shoppers.
A lot of this growth has been supported by investments in expertise, notably synthetic intelligence (AI). Ni mentioned AI-driven programs are used for anti-money laundering checks, Know Your Buyer verification and transaction danger monitoring, enabling the corporate to serve smaller companies that conventional banks typically contemplate too complicated or low-value.
Africa emerges as a key development market
Africa has grow to be one in every of XTransfer’s fastest-growing areas.
Ni mentioned the corporate recorded greater than 300 per cent development throughout the continent final yr, reflecting growing commerce flows between African markets and international manufacturing hubs, notably China.
Nigeria and South Africa at present generate the best transaction volumes on the platform because of their bigger economies and robust import exercise. Nonetheless, the corporate is increasing its focus to “second-tier markets,” together with Kenya, Tanzania, francophone African nations and Rwanda.
Ni mentioned Rwanda’s position as a regional monetary hub and host of the Inclusive FinTech Discussion board makes it a beautiful vacation spot for fintech growth.
“We’re right here to grasp the regulatory atmosphere and discover how we will work with central banks to supply options tailor-made for SMEs,” he famous.
Simplifying commerce funds
A key characteristic of XTransfer’s method is its mobile-first platform.
Ni defined that the corporate has developed an software that permits companies to add invoices, logistics documentation and customs kinds instantly into the system. Automated compliance checks confirm transactions, enabling funds to be accomplished inside hours moderately than days.
“Our imaginative and prescient is that even an organization with fewer than 10 workers or a small family-run enterprise can entry treasury providers just like these utilized by Fortune 500 firms like Apple or Google.”
Increasing providers and commerce corridors
XTransfer’s long-term technique extends past cost processing. The corporate is creating further providers aimed toward strengthening SMEs’ monetary resilience, together with wealth administration merchandise and dealing capital lending.
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Entry to credit score stays a serious constraint throughout many African economies, the place SMEs typically battle to safe financing because of restricted credit score histories. Ni mentioned information generated by means of the platform might finally assist establish certified retailers and assist working capital lending.
The corporate can be working to strengthen international commerce corridors linking Africa with different financial areas. Whereas the Africa-China hall stays a precedence, XTransfer can be exploring cost channels connecting Africa with the Gulf area, Asia and Europe over the subsequent 24 to 36 months.
Ni famous that geopolitical tensions have decreased the share of transactions linked to the US from 26 per cent of XTransfer’s complete quantity up to now to lower than 10 per cent in the present day.
Because of this, the corporate is more and more specializing in rising markets throughout what he described because the “international south.”
“These markets are the place many of the development is coming from,” he mentioned.
One other initiative beneath improvement is the XNet settlement community, which Ni described as a next-generation infrastructure designed to streamline B2B funds globally.
He in contrast the platform to “a B2B model of Visa or Mastercard,” enabling banks and monetary establishments to hook up with a shared settlement community that improves transaction effectivity and compliance.
“We now have constructed a really giant database of retailers and transactions, which allows us to confirm counterparties and scale back danger,” he mentioned.
Ni mentioned engagement with African regulators and monetary establishments will stay central to the corporate’s growth technique.
“By working collectively, we will present extra environment friendly providers for SMEs and assist them take part extra actively in international commerce.”
“Our aim is to assist SMEs wherever on this planet handle their cash extra effectively and take part in international commerce,” Ni mentioned.
