Payments News

On The Web

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Deals

Nigerian Fintech Okra Raises $3.5M Backed by Accenture Ventures and Susa Ventures

“Since 2019, Plaid-esque companies, but with different twists to their offerings, have emerged to solve these issues. Today, Nigeria’s Okra , arguably the first to gain mainstream attention, is announcing that it has closed a seed round of $3.5 million…Okra likes to describe itself as an API “super-connector” that creates a secure portal and process to […]
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Global

Nigeria’s $155b E-transactions

“Nigeria continued to witness steady growth in electronic transactions in the first quarter of 2021. According to the Nigeria Inter-Bank Settlement System (NIBSS) , Nigeria processed ₦58.8 trillion ($155 billion) worth of electronic transactions between January and March 2021. Launched in 2011, the NIBSS is a consortium of all Nigeria’s licensed banks and the Central […]
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Global

Backed by YC, Vendease Is Building Amazon Prime for Restaurants in Africa

“For small and mid-sized restaurants in Nigeria and most of Africa, food procurement can be a complex process to manage. The system is such that a business can easily run out of money or have considerable savings. Most restaurants don’t have access to deal directly with farms to get better deals because they lack the staffing to chase them. Besides, they […]
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Global

Open Banking Is Coming to Nigeria

“Last week, the Central Bank of Nigeria (CBN) released draft regulations for the open banking framework in Nigeria. It’s in line with the prediction by Stears Business that conversations around open banking regulations would move forward in Nigeria in 2021. What’s all the fuss about? Open banking, often described as the future of banking, is the idea […]
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Global

Aella, Amazon Partner on Underbanked Empowerment

Single point financial service and payment solutions firm, Aella App, said it is working with Amazon Web Services, Inc. (AWS) to empower underbanked individuals to have quicker access to credit and other financial services using Amazon Rekognition for identity verification.
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Global

Nigeria Fintech Sparkle Announces Partnership with Visa

“Nigeria’s digital banking platform Sparkle partnered with Visa in a collaboration aimed at entrepreneurs, consumers, and SMEs throughout Nigeria. Sparkle is a digital financial services platform supporting Nigerians across the globe. The new partnership will equip Sparkle with greater flexibility and freedom on how in-app payments are made. Users of the Sparkle app can make […]

On The Wires

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Domains

Epos Now Launches Major Push Into Nigeria

“Epos Now, a global software and payments technology company, supporting over 35,000 retail and hospitality locations across 71 countries, has launched its cloud point of sale (POS) solution in Nigeria , making its first entry into the African market…Nigeria has been chosen as the launchpad for Epos Now’s entry into Africa due to its status as a rapidly expanding market […]