Winning in emerging markets requires multi-rail infrastructure
Oana Ifrim
31 Jul 2026 / 25 Min Read
Manpreet Haer explains how businesses can rethink their payment architecture, optimise approval rates, streamline cross-border settlements, and prepare for the stablecoin revolution.
Cross-border payments are evolving at a breakneck pace, and businesses expanding into high-growth emerging markets face a daunting web of challenges, from fragmented local payment systems to capital controls and regulatory hurdles. In a recent episode of Leadership Insights by The Paypers, Lead Writer Oana Ifrim sat down with Manpreet Haer, CEO and Co-Founder of Payfuture, to discuss how businesses can rethink their payment architecture, optimise approval rates, tackle cross-border settlement, and prepare for the stablecoin revolution.
The conversation offered a masterclass in what it truly takes to succeed in markets where digital payment adoption is leapfrogging traditional infrastructure. It highlighted several important themes:
Prioritise quality over quantity in payment methods: Focus on the most popular and effective payment methods in each market rather than offering an overwhelming number of options. Strategic selection paired with smart routing drives higher approval rates.
Approval rates are the north star: Every routing decision, page design choice, and infrastructure investment should ultimately serve the goal of maximising the percentage of customers who successfully complete transactions.
Cross-border settlement is the hardest problem to solve: Accepting local payments is only half the battle. Moving funds across borders in compliance with capital controls, licensing requirements, and local regulations is the true operational challenge and a major competitive differentiator for payment providers.
Stablecoin adoption hinges on regulation: Where regulatory frameworks exist, stablecoins offer transformative advantages over legacy systems like SWIFT. But inconsistent regulation across markets remains the primary barrier to widespread adoption.
Emerging markets are leapfrogging traditional payment infrastructure: Countries like India, Brazil, and Egypt have rapidly transitioned from cash-based systems to sophisticated digital payment networks in just a few years, with blockchain-based methods expected to be the next frontier.
Demand comprehensive capabilities from payment partners: Businesses should evaluate partners on approval rate optimisation, redundancy, pay-in and payout functionality, cross-border settlement, and the ability to handle both fiat and stablecoin transactions.
The conversation underscored a fundamental truth about global payments: expanding into emerging markets is far more complex than simply plugging into local payment rails. Success requires a sophisticated blend of technology, regulatory expertise, and strategic thinking – from intelligent routing algorithms that maximise approval rates to navigating the intricate web of cross-border settlement regulations. As stablecoins gain regulatory clarity and digital payment adoption continues to accelerate across the developing world, businesses that partner with providers capable of solving these multifaceted challenges will be best positioned to capture growth in the world's most dynamic markets.
Payfuture's approach – embracing complexity, prioritising merchant outcomes, and staying ahead of the fiat-to-stablecoin evolution – offers a compelling blueprint for what modern payment infrastructure should look like.
If you would like to learn more about Payfuture solutions, visit www.payfuture.net
About the interviewee
Manpreet Haer is the Co-Founder and CEO of Payfuture, a high-growth fintech specialising in emerging-market payment solutions. With over 15 years in the global payments ecosystem, he has a proven track record of scaling fintechs and driving international expansion. Since co-founding Payfuture in 2019, Manpreet has driven its rapid growth and led the team to secure an EMI licence in Malta for EU/EEA operations. Previously, he held senior roles at SafeCharge (now Nuvei), Optimal Payments (now Paysafe), and CashFlows, and founded Pro-Opp, establishing deep commercial and entrepreneurial expertise.
About the company
London-based Payfuture is a global payments technology provider helping businesses operate and expand in the world’s fastest-growing emerging markets. Payfuture enables merchants and payment providers to seamlessly manage local payment acceptance and cross-border fund movement across complex regions. With a strong presence across Africa, Asia, and the Middle East, Payfuture combines deep local market expertise with compliant settlement infrastructure to support international growth.
The Paypers is a global hub for market insights, real-time news, expert interviews, and in-depth analyses and resources across payments, fintech, and the digital economy. We deliver reports, webinars, and commentary on key topics, including regulation, real-time payments, cross-border payments and ecommerce, digital identity, payment innovation and infrastructure, Open Banking, Embedded Finance, crypto, fraud and financial crime prevention, and more – all developed in collaboration with industry experts and leaders.
