NALA is a fintech company building payments infrastructure for emerging markets, with a focus on Africa. NALA offers two core products: a consumer app for cross-border payments to emerging markets, and a payment rails platform for African businesses and financial institutions.
What technology powers NALA's payments solutions?
NALA's primary technology enables fast, secure cross-border money transfers from the United States and other countries to several African nations. Their consumer app allows users—especially the African diaspora—to send money home efficiently, addressing common pain points like high fees, slow transfers, and lack of transparency found in traditional remittance services. NALA's second product, Rafiki (rafiki.com), provides payment rails—APIs and infrastructure—for businesses aiming to move money within and into Africa, supporting the continent's growing digital economy.
By focusing on interoperability and regulatory compliance, NALA simplifies the process of sending and receiving payments across different African countries, leveraging local partnerships and integrations to improve speed and reliability.
Who uses NALA?
NALA primarily serves individuals in the African diaspora who need to send money to family and friends in emerging markets, as well as businesses looking to facilitate payments in Africa. Its payment rails are designed for fintechs, banks, and other organizations that require reliable, scalable access to African payment networks. With operations based in New York and a remote team, NALA addresses both consumer and B2B needs in the fintech and banking sectors.
Who are NALA's competitors in cross-border African payments?
NALA operates in the competitive fintech and payments landscape, particularly focused on cross-border transfers to and within Africa. Notable competitors include:
- PAPSS: The Pan-African Payment and Settlement System, enabling instant and secure cross-border payments across Africa's financial markets.
- MFS Africa: Offers a network for sending and receiving money across borders, supporting mobile wallets, cards, and agents.
- Thunes: Partners with banks and digital platforms to provide cross-border payment solutions throughout Africa.
- Payall: A cross-border processor offering correspondent banking as a service, focusing on instant, 24/7 cross-border payments.
While these companies all facilitate cross-border payments, NALA differentiates itself with its dual focus on both consumer remittances and infrastructure for other fintech players, aiming to make payments accessible to the next billion users in Africa.
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