Top 6 Fintech Companies Growing Commercial Landscape In Nigeria
Technology is taking the order of the day with the emerging innovations it brings to fields like the financial landscape. This wide adoption by people has given rise to financial technology (fintech) companies committed to bringing simplicity and convenience to individuals and business entities: “Top 5 Fintech Companies Growing Commercial Landscape In Nigeria.”
It is common knowledge that businesses are now going digital to keep up with the growing interests of people seeking to make online transactions for products and services. This is a result of this digital age that has made the world a global village – thereby improving local and cross-border payments.
Nigeria is one major African country where online business thrives to attract customers from within and outside the continent. As such, the commercial landscape of Nigeria continues to expand as these businesses are largely small and medium scale, contributing a significant quota to the country’s economic growth.
Therefore, there is a place for fintech companies to help these businesses grow, especially in cross-border payments. This is because of the innovation they offer compared to their traditional competitors.
This article explores the best fintech companies helping the commercial landscape in Nigeria.
Peppa
Peppa is a payment platform that enables buyers and sellers on social media to transact safely, even when they’re unfamiliar with each other. The purpose is to eliminate the issue of distrust in the Nigerian social commerce space, which prevents seamless transactions among parties who don’t know themselves beyond social media.
With Peppa, people can see products they like on Facebook, Instagram, Twitter, Jiji, and other social media platforms, negotiate with the sellers, and complete payment on the Peppa platform. Peppa holds the funds in escrow until the seller delivers and the buyer confirms satisfactory receipt of the goods. At this point, the money will be released to the seller.
Peppa is significantly impacting Nigeria’s social commerce industry, presenting many benefits to sellers and buyers.
Peppa is a reliable escrow service platform for buyers and sellers who want to conduct safe and secure online transactions in Nigeria. Creating an account on Peppa is quite straightforward and simple. Follow the steps in this article, and you won’t have to sweat about the process.
Kora
Kora is a fintech company established to bolster local and cross-border payments for businesses. It provides a platform that offers an excellent payment infrastructure for businesses to receive payments from customers across Africa and beyond.
Businesses can use the multicurrency account on Kora to receive payments in different currencies without foreign exchange concerns. They can also use the Kora Payment Links that can be easily shared with customers via social media platforms and other messaging tools. Businesses can also use the mobile money feature on Kora to start receiving customer payments.
In addition, Kora offers instant and scheduled settlements for businesses to get the best value for every transaction on the platform. Merchants can also integrate the Kora APIs into their platforms to enable checkout and other payout features for customers.
Fincra
Fincra is deemed an all-in-one fintech platform that enables cross-border payments. It is ideal for businesses of all sizes across different industries. Like Kora, Fincra also provides a multicurrency account for users to receive payment of different currencies in a single account.
While businesses can use Fincra for identity verification of their customers, it provides APIs for developers to integrate Fincra Pay-ins and Pay-outs in their platform.
Flutterwave
Flutterwave is a payment technology company that enables individuals and businesses to make and receive transfers. It provides a cross-border payment structure that enables you to make local and international transactions. Flutterwave allows businesses to receive payments through customized payment links or card payments.
Businesses can also leverage the Flutterwave marketplace to sell their products across Africa. This promotes online business while encouraging people to make online transactions anytime and from anywhere rather than going to the bank.
Paystack
Paystack provides offline and online payment systems for African businesses, such that they can receive payments from anywhere across the world. Businesses can integrate the Paystack API that enables them to receive payments via bank transfer, cards, and USSD.
Startups and international brands can use this fintech company as it provides high transaction success rates.
Interswitch
Interswitch is a popular fintech company focusing on digital payments, infrastructure solutions, and e-commerce. Quickteller is the offshoot of this company that enables a wide range of transactions for individuals and businesses.
Therefore, Interswitch allows businesses to accept online payments seamlessly from anywhere to keep their operations afloat.
Conclusion
Fintech companies continue to gain traction in Nigeria as they revolutionize the financial landscape with innovative solutions. They, in turn, help in the commercial growth of the country. This is because a good payment infrastructure portends the sustainable development of businesses.
In light of this, Kora remains the best platform for businesses to receive local and cross-border payments without any hassle, as it boasts advanced security systems to protect all transactions on the platform.
Create the Peppa account now to start having seamless transactions within and outside Nigeria.
