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Nigerian fintech innovator PayZeep is reinforcing its commitment to advancing digital payments and expanding financial access as part of Nigeria’s evolving fintech landscape. Over the past three years, the company has focused on reshaping digital transactions, aligning its initiatives with national financial inclusion objectives.
According to the Central Bank of Nigeria (CBN), as of November 2024, over 28 million Nigerians remain outside the formal financial system. With increasing internet penetration driving mobile banking and online payments, PayZeep is leveraging cutting-edge technology to accelerate financial inclusion and enhance cashless transactions.
Expanding Payment Solutions with Regulatory Backing
PayZeep’s growing portfolio includes point-of-sale (POS) systems, payment gateways, and digital financial applications, designed to simplify transactions for businesses, institutions, and government agencies. The company’s operations are strengthened by key regulatory approvals, ensuring compliance and trust within the fintech ecosystem. These include:
- Payment Solution Service Provider (PSSP) License – Enabling seamless online transactions.
- Payment Terminal Service Provider (PTSP) License – Supporting nationwide POS terminal deployment.
- Agency Banking Authorization – Extending financial services to underserved communities, particularly young Nigerians, through non-traditional banking access points.
Innovative Solutions for a Cashless Economy
One of PayZeep’s standout innovations is ‘Smallie,’ a compact mobile POS device designed to reduce reliance on cash, particularly in Nigeria’s transportation sector. In addition, all PayZeep POS and mPOS devices are equipped with contactless ‘Tap and Pay’ technology, enabling faster and more secure transactions without the need for physical cash or card swipes.
Driving Digital Finance Forward
Reflecting on PayZeep’s growth, CEO Ayodele Adeluka stated:
“At PayZeep, our vision has always been to democratize seamless transactions. Over the last three years, we’ve built a robust payment infrastructure that empowers individuals and businesses alike. Through strategic partnerships, technological innovation, and regulatory compliance, we are solidifying our position as a trusted leader in Nigeria’s fintech sector.”
As Nigeria continues its transition toward a digital financial ecosystem, PayZeep remains focused on enhancing efficiency, accessibility, and financial inclusion. By integrating innovative solutions into everyday transactions, the company is positioning itself as a key player in Nigeria’s cashless future.
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