Collect ZAR from South African Shoppers, Settle Abroad
How an ecommerce marketplace collects local payments and settles proceeds internationally
Challenge
The situation
An international ecommerce marketplace has South African buyers and sellers on its platform, but no South African banking licence and no local entity built to collect payments directly. Buyers pay in ZAR via EFT, and the marketplace needs those funds collected legitimately, then settled onward to wherever the business operates from, without opening a local entity or navigating a banking relationship.
Without a licensed local partner, this either doesn't work, or runs through informal or under-documented channels that create compliance exposure the moment a regulator or banking partner asks questions.
FiveWest
The solution
Using FiveWest’s ZAR Collections, the marketplace collects buyer payments in ZAR via Open Banking or EFT, under FiveWest's Third-Party Payment Provider (TPPP) licence. This requires no local entity or banking relationship on the marketplace's part. Collected funds settle onward in the marketplace's currency of choice, across more than 30 supported currencies.
A single licensed collection infrastructure standing creates local capability the marketplace doesn't have, and now, doesn't need to build.
