Fusepay, a Payment Service Provider in Seychelles focused on creating a digital finance hub for frontier markets, has officially launched in Seychelles and completed its first live business transaction, marking a major step in replacing paper cheques with fully digital payments.
The company announced this feat via a post on Linkedin stating that the launch comes at a crucial moment, as Seychelles begins phasing out paper cheques.
Part of the post reads,
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“Fusepay is live in Seychelles. Today we made our first transaction. Fusepay was created to solve a long-standing problem in Seychelles. Businesses still rely on outdated payment systems that waste time, increase costs, and create opportunities for fraud and embezzlement. There has been no modern alternative for retailers, wholesalers, and service providers. Over the past eighteen months, we have been working to change this. From fundraising to assembling a committed team to bringing in supportive investors at Pre-seed to securing our license to operate, the journey has been both rewarding and challenging.
“We begin with a critical and urgent problem. Seychelles is sunsetting paper cheques. Fusepay is launching virtual accounts, focusing on post-dated digital payments as a faster, safer, and more transparent alternative. Our mission is simple. Help businesses save time, save money, and prevent fraud. We are committed to building the best payments and finance experience for Seychelles and other frontier markets.”
Also commenting, the company’s co-founder Vidhyasahar Thiyagarajan expressed excitement about the milestone, celebrating the company’s first live transaction as a major leap forward for digital payments in Seychelles.
According to Thiyagarajan, Fusepay was born out of the frustration he and co-founder Francesco Rocchi experienced watching their parents struggle to make even simple payments for their retail and wholesale businesses. The time wasted, the financial losses, and the ease with which payment fraud and embezzlement occurred highlighted a deeply rooted problem in the existing payment system.
Over the past eighteen months, the founders embarked on a demanding but rewarding journey, raising funds, building a strong and committed team, onboarding supportive pre-seed investors, and securing the company’s license to operate.
Led by Vidhyasahar Thiyagarajan and Francesco Rocchi, Fusepay was co-founded in June 2024 and is poised to modernize business payments across Seychelles and potentially the wider Indian Ocean region. Many businesses in Seychelles still rely on cash transactions, manual bookkeeping, and paper cheques, which create significant operational costs, delays, and exposure to fraud. Fusepay aims to digitize these processes, providing businesses with tools to streamline payments, manage invoices, and track cash flows more efficiently.
Earlier this year, the Fintech announced the close of a $350,000 pre-seed funding round to transform payments and financial operations for underserved Indian Ocean islands. The fintech is backed by global early-stage investors, including First Check Ventures, Hustle Fund, and Startup Istanbul.
One of Fusepay’s key products, FuseCheq, is tailored for retail and wholesale businesses that currently rely on post-dated physical cheques. With FuseCheq, companies can schedule secure digital payments while gaining full traceability and reducing operational overhead. This product aligns with broader government efforts in Seychelles to phase out paper cheques and encourage digitised, transparent financial practices.
The company’s mission is to simplify and secure financial transactions in regions traditionally reliant on cheques, manual transfers, and cash-heavy operations.