Kaduna-based fintech, Payant mulls in-branch feature


November 2, 2017 | 5:28 pm
  |     |     |   Start Conversation

Payant, a Kaduna-based financial technology (Fintech) company, has disclosed that it is planning to add in-branch feature on its platform.


The company which was launched on 1 January, 2017, provides invoicing and payment software that allows its more than 1000 users – including freelancers and SMEs, to send and receive money online from their websites, mobile apps or directly from Facebook Messenger.


The company’s CEO and founder Aminu Bakori, told BusinessDay in-branch payment would allow merchants to get paid for invoices from over 5,000 bank branches across Nigeria.


“This is in addition to cards, account number and internet banking options we currently have on Payant,” Bakori said.


Since launching in Kaduna, Bakori said the company has seen payment adoption grow.


“Technology does not have a location barrier. Even though a handful of our customers are coming from parts of Lagos, we have customers from Kaduna, Abuja, and Kano who are doing amazingly well.


“Tech awareness is high. Yes, ordinary people use payment services even though it is not as high as Lagos. But we are doing our best to extend payment services to really low tech savvy people,” he said.


Payant services are targeted majorly at freelancers and SMEs.


“This can be non-developer payment services or developer centric SMEs that need more advanced features via our extendable APIs. What we noticed was payment services in Nigeria always target the developers. But not all SMEs sell online, some just need a mobile POS like our Payant Checkout, and some sell directly from Facebook Pages,” Bakori said.


The company has moved from a processing volume of N1 million to near N5 million on a daily basis.


“Customer acquisition cost is high. But our simplicity and easy use is what makes us win customers, in addition to our pricing and also instant settlement for all transactions,” he said.


Tags: ,


November 2, 2017 | 5:28 pm
12893  |   93   |   0  |   Start Conversation

Big Read |  


Making the case for sustainability

The debate about the role of business in society has been ongoing since the 1960s. Over the years,literature and research...