• Monday, March 04, 2024
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How Daniyan turned cash crunch pains into gains

How Daniyan turned cash crunch pains into gains

Victor Daniyan, the CEO of Nearpays, is leading the charge in Nigeria’s fintech landscape, where financial inclusion meets cutting-edge technology. At the heart of Nearpays’ mission is the development of a revolutionary soft PoS system.

This software-based solution transforms mobile devices into point-of-sale terminals, effectively bridging the gaps in Nigeria’s financial landscape. Moreover, fintech innovated an offline soft POS, providing a lifeline to areas grappling with limited internet connectivity.

Nearpays’ journey can be traced to a personal logistical challenge that Daniyan faced while collaborating with e-commerce merchants and partners.

A cash crunch earlier this year resulted in payment difficulties and remittance issues. To address this, the need for a simpler, more cost-effective card payment solution than traditional point-of-sale terminals became evident.

“Our journey began with a personal logistics challenge,” recalls Daniyan. “Working closely with E-commerce merchants and partners, I faced difficulties in receiving payments during a cash scarcity earlier this year, which led to remittance issues.”

“We recognized the need for a solution that would make card payments easier and more cost-effective than traditional point-of-sale terminals,” he adds.

Through research and development, Nearpays birthed the soft PoS, an innovation that revolutionises payment receipt processes. Before being unveiled to users, the soft PoS underwent rigorous refinement.

Nearpays brings simplicity to transactions by offering a seamless payment experience that renders physical terminals obsolete, even for micropayments.

The rural virtual PoS system is the hallmark of the firm’s innovation, enabling payments with or without internet connectivity, all at no cost.

In addition, accessing this eco-friendly solution requires users to download the software or register via USSD, eliminating the need for paper receipts and making significant strides in reducing carbon footprint.

Empowering the unbanked and SMEs

In Nigeria, a huge chunk of the population remains unbanked, especially in areas with limited internet connectivity.

To change this narrative, Nearpays partnered with Providus Bank, offering these unbanked their first account number while adhering to all KYC requirements. “Financial inclusion is not just a buzzword for us; it’s our commitment,” asserts Daniyan.

Additionally, Nearpays simplifies payment processing for social commerce sellers, removing the necessity for physical terminals.

The company has established strategic partnerships with various institutions, catalyzing the adoption of its virtual PoS in both Nigeria and Ghana, particularly benefiting SMEs.

Nearpays believes that innovation is most impactful when accessible to everyone, according to the CEO.

“The company has launched a method for accepting payments without the need for additional devices, catering to anyone with a mobile phone, whether it’s a smartphone or a basic 2G device.”

“Security is paramount to Nearpays. Stringent measures are in place to safeguard user data during transactions, with ongoing security protocols that deter potential risks.” Danitan says.

“Crucially, Nearpays does not retain users’ card information, minimizing the risk of card hacks. The company’s PCI DSS certification underscores its commitment to user security.”

Customer-centric approach and collaborative growth

Customers are at the heart of Nearpays’ mission, often referred to as ‘Kings.’ This focus ensures that the user experience remains unparalleled.

Awards and future ahead

Furthermore, Nearpays’ relentless pursuit of excellence has not gone unnoticed. The company proudly clinched the GITEX Supernova Award for Best Fintech in West Africa, emerging victorious among over 200 nominated startups.

Additionally, Nearpays received a nomination from the Dubai World Trade Center to represent Nigeria at the prestigious GITEX Global event in Dubai.

“Our journey is far from over,” declares Daniyan. “We’ve introduced a rewarding system on our platform to ensure that our users enjoy substantial ongoing rewards through active application use and referrals. This reflects our commitment to appreciating our users and contributing to the community.”

As part of its commitment to empowering individuals and businesses through innovative fintech solutions, Nearpays is currently collaborating with a mobile phone company (yet to be revealed) to equip SMEs across Nigeria with free smartphones pre-installed with the soft POS. This propels its mission of fostering financial inclusion through technology.