Fintech – Financial Technology – invokes the use of mobile phones for banking and other investment services. This involves the use of technology and other innovations, though it has been around for a long time, it was majorly introduced in Nigeria in 2015.
There are various Fintech companies in Nigeria and in this article, we will be looking at some of the top ones.
Alat by Wema Bank
This is a mobile application for saving money created by Wema Bank. It is known as the first digital bank in Nigeria and Nigerians can also request for loans via the platform.
Founded in 2002, Interswitch is a digital payments and commerce company operating in Africa. The platform facilitates money circulation and money exchange between organizations and individuals. Interswitch provides a secure means for easy money management and the platform is connected directly to top commercial banks in Nigeria.
This is an online payment processor operating in Nigeria, Kenya, Ghana, Zimbabwe, and Cote d’Ivoire. eTranzact also operates in the UK and aside from payment processing, they also provide Terminal Testing and Training services. This platform was founded in 2011 and with it, you can pay your bills, top-up airtime and transfer money to others.
Flutterwave is an online payment platform for small and large businesses. The platform was founded in 2016 with a headquarters in San Francisco and offices in Lagos and a few other African cities. With flutterwave, you can accept payments, make payments and manage your funds. You can easily integrate flutterwave payment if you use Shopify, WooCommerce or QuickBooks.
The Amplify platform is used for processing recurring payments and subscriptions. It is connected with major banks in Nigeria and through the platform, one can receive payment in about 40 different currencies. Amplify accepts VISA, Verve, American Express, and MasterCard cards. Payments are processed in less than 24 hours.
Appzone provides payment and integrated banking software for small and medium Nigerian businesses. The AppZone software processes banking payments and it was used in creating BankOne.
Cassava Fintech is an integrated digital ecosystem that manages payments and other digital banking transactions. The platform has helped create business and job opportunities for Nigerian entrepreneurs and it functions as a mobile micro-insurance platform.
With ChatPay, you can carry out various transactions such as airtime purchase, bill payment, and others on social media platforms at your convenient. The platform uses an advanced A.I that is very engaging and it is available on multiple social media platforms.
This is a payment gateway for businesses to use in receiving payments from their customers. Individuals can also create accounts and send and receive money to others.
This is an e-wallet application available on social media. With it, you can purchase airtime, pay your bills, buy events and movie tickets, donate charity and others from anywhere you are.
Fintech platforms have been a major improvement in the Nigerian financial industry so people are advised to make use of them.