The verdict in three sentences
For a B2B SME, card payment costs about 3.4% + SGD 0.50 per transaction with Stripe in Singapore, and 2.5 to 3.5% through regional gateways (PayDunya, CinetPay) for a company invoicing from Dakar. Bank transfer, PayNow in Singapore or a regional transfer in West Africa, is almost free but only truly efficient with automatic reconciliation of payments against invoices. Full integration into an invoicing portal costs 2 to 6 million FCFA (about USD 3,300 to 10,000) and pays back mainly by cutting payment delays, often from 45 to 25 days.
Gateway comparison in 2026
Singapore SMEs have easy access to Stripe, Adyen and local acquirers, plus PayNow for instant transfers. A Senegalese SME cannot open a Stripe account with a local company yet, so firms invoicing Europe heavily use a subsidiary abroad, while regional aggregators cover cards and mobile money in the WAEMU zone.
| Gateway | Card fees (2026 order of magnitude) | Alternative methods | Payout delay | Watch out |
|---|---|---|---|---|
| Stripe Singapore | 3.4% + SGD 0.50 | PayNow, GrabPay | 2-7 days | Higher on international cards |
| Adyen / local acquirer (SG) | 2.2 - 3% + scheme fees | PayNow | 1-3 days | Volume minimums |
| PayDunya (Senegal) | 2.5 - 3.5% | Wave, Orange Money, Free Money | 2-5 days | Senegalese company accepted |
| CinetPay (West/Central Africa) | 3 - 3.5% | WAEMU and CEMAC mobile money | 2-7 days | Good regional coverage |
| Wave Business (Senegal) | 1% | Wave only | 0-1 day | Per-transaction limits |
| Bank transfer / PayNow | SGD 0 locally; SWIFT 15,000 - 35,000 FCFA | n/a | Instant to 3 days | Manual matching without tooling |
For B2B invoices worth tens of thousands, cards get expensive: 3.4% on a SGD 20,000 invoice is SGD 680. Good practice is to offer card and mobile money for small amounts and deposits, and bank transfer for the balance.
What the integration costs
The table shows Dakar build costs in FCFA. A Singapore agency at SGD 120 to 180 an hour typically quotes SGD 15,000 to 40,000 for the same scope.
| Component | Indicative cost (FCFA, excl. tax) | Timeline |
|---|---|---|
| Pay button on each invoice (unique link) | 400,000 - 900,000 | 1-2 weeks |
| Gateway integration (PayDunya, CinetPay or Stripe) + webhooks | 500,000 - 1,200,000 | 1-2 weeks |
| Second, international gateway | 400,000 - 1,000,000 | 1 week |
| Automatic transfer reconciliation (statements, references) | 600,000 - 1,800,000 | 2-3 weeks |
| Automatic reminders by email and WhatsApp | 300,000 - 700,000 | 1 week |
| Cash dashboard (collected, overdue, forecast) | 300,000 - 800,000 | 1 week |
| Typical total | 2,000,000 - 6,000,000 | 5-9 weeks |
Automatic reconciliation is the most profitable component: the tool reads bank statements, finds the invoice reference in the transfer description and marks the invoice paid. Without it, an accountant spends 3 to 5 minutes per transfer.
Mini case study
Aïssatou is CFO of an IT services SME in Dakar issuing 120 invoices a month for 85 million FCFA of monthly revenue, 30% from European clients. Average payment delay: 48 days.
Selected project: 3.8 million FCFA (about USD 6,300) with PayDunya, Stripe through the French subsidiary, automatic reconciliation and reminders. Estimated effects: average delay falls to 30 days, freeing 18 days of revenue, about 51 million FCFA of cash. At a 10% overdraft cost, that saves about 5.1 million a year, plus 6 hours of reconciliation saved each month. Card fees on 15% of revenue at 3% amount to 380,000 FCFA a month, partly passed on. Payback in 8 to 10 months. A Singapore SME with similar volume using Stripe and PayNow reaches comparable payback, since PayNow transfers carry no fee.
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FAQ
Can a Senegalese company open a Stripe account?
Not in 2026: you need an entity in a supported country, often France or the US. Plan for EUR 1,500 to 3,000 a year to run a light foreign entity. In Singapore, Stripe onboarding takes a few days.
Which gateway for WAEMU clients?
PayDunya or CinetPay, combining card and mobile money at 2.5 to 3.5%. For key accounts, transfer remains cheaper above about 1 million FCFA (USD 1,650).
How long until the money arrives?
Between 2 and 7 days depending on gateway and merchant history, versus same or next day for Wave Business. PayNow transfers in Singapore are instant.
Does automatic reconciliation work with local banks?
Yes, from exported statements (CSV, MT940) or a bank API when available. Automatic matching exceeds 85% when the invoice reference appears in the transfer description.
Can card fees be passed on to the client?
In B2B it is possible if your terms of sale provide for it, and Singapore allows surcharging if disclosed upfront. Many SMEs prefer a 1 to 2% discount for transfer within 8 days.
Let's scope your project. We scope your invoice collection: gateways that fit your clients, transfer reconciliation, an indicative budget of 2 to 6 million FCFA (USD 3,300 to 10,000) and go-live in 5 to 9 weeks. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
