South African retail group Pepkor Holdings plans to combine its financial-technology subsidiary Flash with payments platform Shop2Shop, forming a larger merchant-services and fintech business focused on the country’s informal economy.
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JOHANNESBURG – South African retailer Pepkor Holdings said on Wednesday it will combine its fintech subsidiary Flash with payments platform Shop2Shop, creating a merchant commerce and financial technology company that it plans to list separately in future. The deal highlights intensifying competition among South African retailers, banks and fintech firms to capture the country’s vast…