South African fintech TurnStay has announced a significant operational milestone, processing over R1 billion, approximately $60.5 million, in transactions within the first six months of 2026. This achievement, reached just three years after its founding, highlights the growing demand for more efficient payment solutions within Africa's travel industry. The company specializes in providing payment infrastructure that lowers cross-border transaction costs for hotels, safari lodges, and tour operators across the continent.
Addressing a Costly Gap in Tourism
African travel merchants have historically faced high transaction fees, sometimes reaching up to eight percent for international payments. TurnStay directly addresses this disparity by offering rates that start from as low as 1.6 percent, effectively halving the typical cost. CEO Alon Stern stated that the company was built to close this long-standing financial gap for African businesses competing on a global stage.
Innovative Payment Infrastructure
The company achieves these significant cost savings by combining a merchant-of-record framework with modern payment technologies. This innovative model utilizes stablecoins to facilitate fast and low-cost cross-border fund transfers before settling in local currency. This approach provides smaller African operators with direct access to sophisticated infrastructure previously limited to large global platforms like Airbnb.
Strategic Growth and Expansion
Since its inception, TurnStay has demonstrated impressive growth, attracting high-profile clients such as Singita, Londolozi, and Safari.com. The company has successfully raised $2.3 million in total funding, including a $300,000 pre-seed round in 2024 and a $2 million seed round in 2025. It is now preparing for a Series A funding round to accelerate its pan-African expansion.
TurnStay's operational presence extends from its base in South Africa to growing markets including Mauritius, Kenya, Tanzania, and Botswana. This expansion reflects the widespread demand for more efficient payment solutions within the continent's diverse tourism industry. The upcoming funding will support deeper penetration into these and other key African travel destinations, strengthening its continental footprint.
Navigating the Regulatory Landscape
Operating as a licensed financial services provider in South Africa, TurnStay is actively pursuing further licensing in international markets. This strategy is designed to formalize and de-risk cross-border payments for its merchants while ensuring full compliance. The company's use of stablecoins for settlement is positioned as a tool for efficiency within established and emerging regulatory frameworks.
TurnStay's recent achievement signals a significant shift towards more equitable and efficient payment systems in the African tourism sector. By substantially reducing transactional costs, the company helps ensure more tourism revenue remains within local economies to foster growth. As CEO Alon Stern remarked, despite the rapid progress, the company's mission to revolutionize travel payments in Africa has only just begun.