PawaPay, a Pan-African payments company, has partnered with Deriv, an online trading platform, to enable mobile money deposits across multiple African countries, as both firms accelerate their expansion across the continent.
The integration, which went live in 2025, currently supports mobile money deposits in eight African markets and is expected to expand further. Through a single connection to major mobile network operators, Deriv users can now access local payment methods via PawaPay’s compliant infrastructure.
“Mobile money is already deeply embedded in how people transact across Africa,” said Nikolai Barnwell, CEO of PawaPay. “The real challenge for companies expanding across multiple markets is running it reliably once volumes grow. Our role is to make sure payments remain predictable, so platforms like Deriv can focus on their customers rather than managing operational detail.”
Under the arrangement, Deriv customers can fund their accounts using the same mobile money wallets they use for everyday transactions. For many African consumers, mobile money remains the dominant payment method, making reliable operator connectivity and regulatory alignment critical for digital platforms seeking to scale.
Deriv said it selected PawaPay to support its African growth strategy, citing the need to deliver localised payment options without compromising reliability as transaction volumes increase.
Derek Swift, head of client funding facilities at Deriv, described the partnership as central to the company’s African expansion. He noted that PawaPay’s platform performs reliably in markets where payment infrastructure requires strong local expertise and responsiveness across multiple jurisdictions.
The collaboration reflects a broader trend among global fintech and trading platforms to invest in localised payment rails to unlock growth across Africa’s mobile-first economies.
Since launching the integration, the trading platform reports a measurable rise in mobile money deposits across the live markets. Joint launch and user education campaigns helped accelerate adoption, while improvements in transaction reliability reduced failed payments and improved settlement predictability, which are key factors in driving user trust and repeat usage.
PawaPay operates in 20 African markets, connecting businesses to local payment methods, including mobile money services. The company manages payment processing, settlement, foreign exchange, and reconciliation for global platforms operating at scale.
As part of the partnership, PawaPay provides Deriv with operator connectivity, compliance support, and coordinated settlement across the active markets.
The company also offers hands-on technical support during periods of network instability to minimise service disruptions. The infrastructure is designed to handle high-volume payment flows as demand grows.
