On Thursday (May 4), Vesicash, a Nigerian escrow payment system, announced the launch of its new Merchant of Record (MoR) product, as well as its expansion into new African markets. The MoR product aims to simplify the process for companies to enter new markets, and the startup is utilizing it to facilitate its expansion.

"We are thrilled to launch our Merchant of Record technology in multiple African markets. Thus, expanding our reach to businesses in Ghana, Rwanda, Zambia, and Egypt," stated Vesicash co-founder, Tomisin Adeshiyan.