The $60 million startup tackling Africa’s travel payments problem
TurnStay launched in 2023 to reduce the cost of cross-border payments for African travel businesses.
TurnStay, a South African fintech startup, is addressing the issue of high payment processing fees and foreign exchange charges faced by African tourism operators. By providing payment infrastructure to hotels, safari lodges, tour operators, and villa agencies, TurnStay aims to reduce the cost of accepting international bookings and help more money remain in Africa.
The company's CEO and co-founder, Alon Stern, claims that traditional payment processing can cost African merchants up to 8% of a transaction, and TurnStay's modern payment rails, including stablecoins for cross-border settlement, can reduce fees to as low as 1.6%. With operations expanding across multiple African countries, TurnStay has already processed over $60 million in travel payments and raised $3.3 million in funding since its inception in 2024.
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