Prepay Services Ltd has appointed payments and financial technology veteran Peter Cox as Group Non-Executive Chairman, as the company prepares for its commercial launch in South Africa and plans wider expansion across Southern Africa and the African market.
Cox has also acquired a substantial shareholding in Prepay Services, signalling his confidence in the fintech’s strategy, management team and growth potential.
With more than 40 years of experience across payments and financial technology, Cox brings extensive industry, governance and regulatory expertise to the company.
His career includes launching Club Card with Tesco and contributing to the creation of Nectar under ID Data. In 2008, he founded Contis and served as its Executive Chairman, developing the business into one of Europe’s leading Banking-as-a-Service and payments platforms. Contis was acquired by Solarisbank in 2021.
Since then, Cox has invested in a number of regulated financial services businesses, including Capitalise.com, while continuing to focus on financial technology and payments.
Prepay Services targets African payments opportunity
Cox’s appointment comes as Prepay Services moves towards its initial commercial launch in South Africa and develops plans for broader expansion across Southern Africa and other African markets.
The company says his experience in governance, compliance and operating regulated financial services businesses will support its growth at a time when payments, cryptocurrency and related sectors face increasing regulatory scrutiny.
Prepay Services said the appointment reinforces its focus on strong governance, responsible innovation, regulatory compliance and customer protection as it expands its operations.
Louis Yadgaroff, Founder and CEO of Prepay Services, said Cox’s decision to join the company as Non-Executive Chairman and make a substantial personal investment represents a strong endorsement of its strategy.
“Peter’s decision to become our Non-Executive Chairman and make a substantial personal investment in our business is a tremendous endorsement of what we are building,” Yadgaroff said.
He added that Cox’s knowledge, experience and international payments relationships would be valuable as Prepay Services moves from development to commercial launch and pursues its wider expansion plans.
According to Yadgaroff, Cox will work closely with the board and executive team on strategic direction, governance and the company’s organic growth plans. The company also intends to draw on his industry experience to identify and potentially acquire complementary businesses.
Peter Cox brings payments experience to Prepay Services
Cox said he was pleased to return to the payments sector after focusing on his private office, Paydyn Financial Ltd, and its technology and retail interests following his time at Contis.
“I am delighted to take on the role of Non-Executive Chairman and to deepen my commitment to Prepay Services as a substantial shareholder and the global payments sector as a whole,” Cox said.
He said Prepay Services had identified an opportunity to improve how companies manage customer payouts, with South Africa serving as the company’s first launch market.
“I have been impressed by Louis’ vision, the strength of the team, and the massive progress made to date,” Cox said.
He added that he intends to apply his experience in payments and financial technology to support the company through its initial go-to-market launch and future international expansion.
With its South African launch approaching, the appointment positions Prepay Services to combine payments expertise, regulatory experience and local market expansion as it seeks to establish a presence in Africa’s growing fintech ecosystem.
Source: Prepay Services Ltd
