Emerging markets represent a huge share of the world’s population and some of its fastest-growing digital economies. But for many online businesses, actually reaching customers in these regions isn’t straightforward.
Local payment systems differ widely, and infrastructure often lacks cohesion – what works in one country might fail just across the border. PayFuture launched to address this challenge, helping global merchants connect directly with local payment methods in regions frequently overlooked by mainstream providers.
In this Behind the Idea, we speak to Zaki Farooq, co-founder and CTO, about how it started, what’s driving the next phase of growth and why the company has stayed focused on execution from day one.
Tell us more about your company and its offering
At PayFuture, our mission is to open emerging markets to international
e-commerce. These regions account for 85 per cent of the world’s population, many of whom are underbanked and face fragmented payment technologies. We bridge the gap between local payment methods and global e-commerce merchants. The size of these markets presents an incredible opportunity, and by harnessing it, we aim to drive economic transformation.
What problem was your company set up to solve?
Our company was created to unlock the massive potential of emerging markets. While these regions represent a significant portion of the global population, they are often underserved in terms of access to modern payment solutions. We aim to solve this problem by connecting local payment methods with global e-commerce merchants, enabling businesses to expand their reach and offer inclusive, seamless payment experiences. Through this, we empower local consumers and drive economic growth by overcoming the barriers in payments and financial infrastructure.
Since launch, how has your company evolved?
We launched PayFuture with just hardly any money invested, and in a relatively short time, we’ve scaled to become market leaders. We identified a critical gap in the payment space – emerging markets that were underserved – and moved quickly to address it. Throughout our growth, our agility has been a key differentiator, allowing us to innovate faster, adapt to changing needs, and build strong local partnerships. This strategic focus on execution has enabled us to scale rapidly and outpace many established names in the industry.
What has been the biggest challenge or most ‘tricky moment’ to overcome?
Scaling globally has presented numerous challenges, particularly in managing the complexities of diverse markets. One of our toughest moments was navigating these challenges while staying true to our vision. However, our resilience has been key. We’ve learned to turn every setback into a lesson and every challenge into an opportunity to move forward.
What are your biggest achievements or ‘proudest moment’ so far?
It makes me proud knowing that building PayFuture would make my father proud. He moved to the UK in 1959, overcoming significant challenges, and his resilience has always inspired me to create something meaningful. Seeing PayFuture grow from the ground up and witnessing its positive impact on businesses and consumers fills me with a sense of satisfaction especially being able to help underserved countries.
Right now, we’re in the process of expanding into India, a move that opens incredible opportunities for global businesses to tap into one of the fastest-growing markets in the world. We’ll be able to unlock access to India’s 1.4 billion consumers, including a young, tech-savvy demographic eager to embrace digital-first industries like gaming, streaming, and e-commerce.
It’s a significant milestone not just for payments, but for empowering businesses to thrive in one of the world’s most dynamic economies. Contributing to such positive change is a constant source of satisfaction for me.
How would you describe the culture of your company?
I would say our culture is rooted in innovation, execution, collaboration and continuous improvement. We challenge each other to be the best we can be, encouraging creative thinking, open communication, and a relentless drive for growth.
Everyone is empowered to take ownership, contribute ideas, and work together to achieve shared goals. It’s this environment that allows us to stay agile, adapt to challenges, and keep pushing the boundaries of what we can accomplish.
What’s in store for the future?
Looking ahead, PayFuture will be the leading payment gateway for emerging markets, focusing on expanding our presence in Sub Saharan Africa, North Africa, Indian subcontinent, LATAM, and Southeast Asia. We’ll accomplish this by forging strong local partnerships, ensuring that our merchant’s consumers have the most popular local payment methods, enhancing our AI-driven fraud prevention capabilities, and integrating more local alternative payment methods to meet the diverse needs of customers.
The fintech payments sector is evolving rapidly, and we plan to stay ahead by adopting innovations in faster cross-border transactions, real-time payment processing, and embedded finance solutions. Our strategy is built on agility; quickly adapting to regulatory changes, shifting consumer behaviours, and advancements in financial infrastructure. Above all, we will remain committed to providing seamless, inclusive, and accessible payment solutions that empower businesses and consumers globally.
