South African retailer Pepkor is facing complaints from directors and investors over a deal to merge its fintech arm with a rival company.
South African retailer Pepkor is facing complaints from directors and investors over a deal to merge its fintech arm with a rival company.
In context
- Topic: Banca y Fintech — Banca digital, pagos, open banking y regulación financiera.
- Source: Finextra
- Published: 12/10/2026
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Why it matters
Financial services has one characteristic that makes it unlike every other sector: it can fail on experience and survive, but it cannot fail on trust. That is why moves that look slow from the outside are usually prudent from the inside.
My view here is shaped by the Panamanian market: regulation changes, standards arrive with a deadline, and the operation has to keep invoicing while it adapts. The useful question is not whether it suits you, it is how much time there is to comply.
What usually goes wrong
What I see fail most is underestimated compliance load. The product gets designed around the customer and legal comes in late, once it is already built. That is when requirements appear that force whole flows to be redone, and what was going to ship in one quarter ships in three.
What to watch
- What happens to cost per transaction at real volume, which is where the business is decided.
- How daily reconciliation is left, which is where the cases nobody modelled show up.
- What the local regulator requires and by when, because the deadline is usually the real constraint.
How I read this entry
I would treat it as a conversation about partnerships rather than product. In this sector fewer and fewer institutions build everything, and the relevant decision is who you partner with and which part of the customer relationship you hand over. That handover is hard to reverse later.
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Comments
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Living through this in your own team?
Open the chat and tell me how you're handling it. I'm interested in comparing notes.
