Nigerian startup Startbutton is a “merchant of record” that enables businesses to accept payments in local currencies and manage local compliance without needing to establish local offices. In fact, with a single API from Startbutton, merchants can accept payments in five local African currencies and receive settlements in USD. “A primary reason why companies expand to other countries is because they want to sell more and unlock new revenue streams. “We’ve partnered with payment companies like Paystack and Cellulant to start merchant expansion programmes,” said Bolake. Startbutton takes commission from collections and settlements made by its customers, and also charges a recurring fee for other services such as compliance and taxes.
