PayZeep expands payment solutions

Nigerian fintech company PayZeep is expanding its digital payment offerings as it seeks to provide financial access and solidify its position in the country’s financial technology sector.

The company said it had spent the past three years working behind the scenes to redefine digital payments in Nigeria and expand financial access.

This effort aligns with ongoing initiatives to bridge the country’s financial inclusion gap, the fintech said in a note shared with The PUNCH.

According to the Central Bank of Nigeria, over 28 million Nigerians still lack access to formal financial products and services as of November 2024.

Internet penetration has played a key role in improving financial inclusion by enabling access to digital services such as mobile banking and online payments.

PayZeep said its suite of solutions, which includes point-of-sale systems, payment gateways, and financial applications, was designed to support businesses, institutions, and government agencies in accelerating cashless transactions.

The company highlighted that its services are backed by key regulatory approvals that reinforce its leadership in Nigeria’s fintech space.

It holds a Payment Solution Service Provider licence, allowing it to facilitate seamless online transactions, and a Payment Terminal Service Provider licence, which enables it to deploy and manage POS terminals nationwide.

Additionally, its agency banking approvals have helped expand financial services, particularly among young people, by providing alternative banking access points beyond traditional bank branches.

Reflecting on PayZeep’s journey, its Chief Executive Officer, Ayodele Adeluka, said, “Our mission at PayZeep has always been clear—to make seamless transactions accessible to all.

“Over the past three years, we have worked tirelessly to build a robust payment ecosystem that empowers businesses and individuals alike. Our strategic partnerships, technology-driven solutions, and regulatory milestones position us as a trusted leader in the fintech space.”

One of its flagship innovations, the mobile point-of-sale device known as ‘Smallie’, has been instrumental in reducing reliance on cash transactions, particularly in the transportation sector.

PayZeep stated that all its POS and mPOS devices are equipped with contactless ‘Tap and Pay’ technology, enabling faster and more secure transactions without physical card swipes or cash handling.

As digital payments continue to reshape Nigeria’s financial landscape, PayZeep reaffirmed its commitment to driving efficiency and financial inclusion through technology.