mitrobe The numbers of Fintech Companies in Nigeria is quite encouraging. Managing payment and other money-related activities online has been a problem in Nigeria, most people find it difficult to handle payments online, but thanks to technology, fintech companies have emerged whose mission is to ensure safe, fast, secure and reliable means to manage finances online.
There are a lot of fintech companies in the country but we’ll be looking at the top 10 Fintech companies in Nigeria.
Fintech companies provide an easy API for website owners to manage payments on their platform. It also provides an avenue for users to buy and make payments online from the comfort of their homes without having to go to the bank.
Although fintech companies are good, there are also some downsides to it. Some people use it as a means of conducting cyber crimes, and it also poses the threat of users’ card details being hacked in the case of a server-bridge.
It’s true that there are a lot of companies in other countries that offer payment gateway but some are restricted and not available to Nigerians, which is why fintech startups have tried to bridge the gap in Nigeria by providing a platform to manage finances online.
Top 10 Fintech companies in Nigeria
- Flutterwave
- Paystack
- Abitnetwork
- Paga
- Jumia one
- Quick teller
- Remita
- VoguePay
- InterSwitch
- Paylater
Flutterwave
Flutterwave is an online payment gateway for managing financial transactions online. Flutterwave provides the simplest and most reliable payment solution for businesses anywhere within the world. The brand was founded in 2016 by a team of ex-bankers, entrepreneurs and engineers. Flutterwave provides the technology needed to provide businesses worldwide with a powerful, reliable and intelligent payment gateway.
Paystack
Paystack
Paystack is a Fintech company focusing on building technology that helps Africa’s best businesses grow from new startups to market leaders launching new business models. They make it easy for businesses to simply accept secure payments from multiple local and global payment channels, then we offer tools to assist you to keep existing customers, and acquire new ones.
Abitnetwork
ABiT Network
Abitnetwork may be a Fintech company whose main goal is to empower Africans with the proper knowledge of Blockchain technology and cryptocurrency. The future benefit is that the rise of smart 21st Century investors and traders who are going to be at the forefront of blockchain innovation. Abitnetwork recently launched a cryptocurrency (Tatcoin) that will be used to make payments online and perform online transactions similar to Bitcoin.
Paga
myPaga.com
Paga started with the aim of allowing its users to transfer money without charge, regardless if it is a major piece of the business, an ever-increasing number of features are executed in the application. Presently, you’ll pay bills, make bank deposits and even pay in certain stores. Pagatech launched in Nigeria to take advantage of the buildup of money within the financial industry and to execute financial services for all residents in Africa.
Jumia one
one.jumia.com.ng
Jumia one is a Fintech company owned by Jumia online shopping mall. They allow users to recharge their phones, pay utility bills, make hotel reservations, book a ride, order food from your favorite restaurants and more all in Jumia ONE. Jumia One is the ”All-in-One” lifestyle App, where you’ll get access to different services in one click.
Quickteller
Quickteller.com
Quickteller is a Fintech solution offering an extensive range of services. You can transfer money to friends, family, or businesses via Quickteller. Also included in the list of services on Quickteller are Western Union receive money, recurring payment, transaction dashboard, eCash funding and payments
Remita
Remita.net
Remita has been regarded severally as Nigeria’s Software of the Year. Remita is a pacesetter for Fintech companies in Nigeria. They help associations (SMEs, Multinationals, State Governments, Government Agencies, NGOs, Schools and academic Institutions and Individuals to Receive and Make payments electronically. The solution was developed by SystemSpecs. Remita is actually a hit story and pride in Africa. SystemSpecs was established in 1991 by John Obaro.
Vogue Pay
VoguePay.com
VoguePay is a web payments processor that has on its own transformed the payments landscape. It was established in 2012. The startup is accessible to lots of local customers, with a simple and minimal effort platform as its principal selling point.
During its launch, VoguePay acquired 17,000 users, the greater part of whom were from its homeland of Nigeria. One of its greatest selling points was free integration for the merchants.
InterSwitch
InterSwitch.com
Interswitch is an integrated digital payments and commerce company that focuses mainly on African startups. They encourage the electronic circulation of money just as the exchange of value among individuals and associations on a convenient and steady basis.
Paylater
Paylater (mycarbon.co)
Paylater, now known as Carbon is one of the loan apps in Nigeria that gives short loans through its mobile app, making the process paperless and quick as could be. Their services are now accessible in Nigeria. The excellence of the Paylater app is that it’s really simple to utilize, quick, neat and works properly. PayLater may be a Nigerian lending platform owned by One Finance Limited. Carbon started operations in 2016.
Conclusion
Although some people are still skeptical about uploading their credit card details online, which is understandable considering the number of frauds that occur online. The technology is still in its early stages in Nigeria and is growing each day. What is your take on Nigeria’s Fintech companies so far? How would you rate their services?
mitrobe
