PayZeep Bolsters Nigeria’s Digital Payment Revolution with Expanded Fintech Solutions

Nigerian fintech innovator PayZeep is ramping up its digital payment offerings, aiming to enhance financial access and cement its standing in the country’s rapidly evolving financial technology sector. The company announced that it has dedicated the past three years to reimagining digital payments, focusing on broadening financial inclusion across Nigeria.

In a statement shared with The PUNCH, PayZeep emphasized that its efforts align with national goals to close the financial inclusion gap. According to the Central Bank of Nigeria, as of November 2024, more than 28 million Nigerians remain excluded from formal financial services. The rise of internet penetration has been a game-changer, fueling the adoption of digital tools like mobile banking and online payments, which PayZeep is leveraging to drive change.

The company’s expanded portfolio includes point-of-sale (POS) systems, payment gateways, and financial applications tailored to streamline cashless transactions for businesses, institutions, and government entities. PayZeep underscored that its solutions are fortified by critical regulatory approvals, reinforcing its prominence in Nigeria’s fintech ecosystem. It holds a Payment Solution Service Provider licence for seamless online transactions and a Payment Terminal Service Provider licence for nationwide POS terminal deployment. Additionally, its agency banking credentials enable it to extend financial services to underserved populations, particularly youth, through alternative access points beyond traditional banks.

Reflecting on the company’s progress, CEO Ayodele Adeluka stated, “At PayZeep, our vision has always been to democratize seamless transactions. Over the last three years, we’ve built a dynamic payment infrastructure that empowers both individuals and businesses. Our partnerships, cutting-edge technology, and regulatory achievements solidify our role as a dependable leader in fintech.”

A key highlight of PayZeep’s offerings is ‘Smallie,’ a mobile POS device making waves in reducing cash dependency, especially in transportation. All of PayZeep’s POS and mPOS devices feature contactless ‘Tap and Pay’ functionality, delivering swift, secure transactions without the need for cash or card swipes.

As Nigeria’s financial landscape increasingly shifts toward digital solutions, PayZeep is doubling down on its mission to enhance efficiency and inclusion through technology, positioning itself as a vital player in the country’s cashless future.