South African fintech TurnStay has processed more than R1 billion, approximately $61.5 million, in travel payments during the first six months of 2026, demonstrating growing demand for financial infrastructure designed specifically for Africa’s international tourism industry.
Solving an expensive payment problem
Hotels, safari lodges and tour operators across Africa frequently depend on international customers but face considerably higher payment costs than competitors in Europe or North America.
Foreign card transactions processed through conventional local systems can cost African travel businesses as much as 8% of the booking value, according to TurnStay. Currency conversion charges, international card fees, delayed settlements and fragmented banking infrastructure can further reduce already narrow operating margins.
TurnStay says its transaction fees begin at 1.6%, potentially allowing merchants to retain substantially more revenue from each booking.
Payments collected closer to the customer
The company processes card payments within the traveller’s home market before settling the proceeds to the African merchant in its preferred local currency.
Its infrastructure combines a merchant-of-record model, payment routing technology and stablecoins for selected cross-border transfers. The stablecoin component operates behind the payment process rather than requiring hotels or travellers to hold or manage digital assets directly.
This model is intended to reduce conversion costs, shorten settlement times and limit the complications created when an international traveller pays in one currency while the receiving business operates in another.
Rapid growth across African tourism
Founded three years ago by Alon Stern and James Hedley, TurnStay initially focused on helping African travel companies accept international payments at lower cost.
Its customers now include luxury safari lodges, accommodation providers, villa agencies and tour operators. The company remains headquartered in South Africa but is recording increased activity in Mauritius, Kenya, Tanzania and Botswana.
Processing more than R1 billion in six months represents payment volume rather than company revenue. Nevertheless, the figure provides evidence that the platform is handling meaningful commercial transactions rather than relying solely on registered users or experimental partnerships.
Series A funding planned
TurnStay secured $300,000 in pre-seed financing during 2024 before raising a further $2 million in seed capital in 2025.
The fintech is now preparing for a Series A funding round intended to support expansion into additional African markets. The company has not disclosed the amount it plans to raise or a proposed valuation.
Successful expansion will depend on its ability to manage financial regulations, currency controls, card-network requirements and settlement arrangements across multiple jurisdictions.
A wider opportunity for African fintech
Cross-border payments remain one of the continent’s most persistent financial challenges. Businesses regularly encounter expensive transfers, limited interoperability and dependence on international banking intermediaries.
Tourism makes the problem particularly visible because customers often book from abroad while the businesses delivering the service must pay employees, suppliers and taxes locally.
TurnStay’s progress illustrates how African fintech companies are increasingly moving beyond consumer wallets and mobile money into specialised financial infrastructure for established industries.
If the company can maintain lower costs while expanding safely across borders, its platform could help African tourism businesses protect margins, improve cash flow and compete more effectively for international customers.
The R1 billion milestone therefore represents more than transaction growth for one startup. It signals that purpose-built payment systems are beginning to address structural costs that have restricted African businesses for years.
Newshub Editorial in Africa – 23 August 2026
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