Kuda has announced a partnership with SeerBit, a payment gateway, to give access and drive safe, quick and easy online cardless payment options for its over 7 million customers.
“Our partnership with SeerBit underscores our commitment to providing secure and user-friendly financial services. With their Kuda Pay ID, our customers can make online payments without the fear of exposing their debit card details, ensuring peace of mind in every transaction,” Musty Mustapha, MD, Kuda Microfinance Bank, said in a statement.
He stated that with the partnership, Nigerian fintech’s retail customers can now look out for the ‘Pay With SeerBit’ option on local websites and apps, which include an option to pay directly from their Kuda account with their secure Kuda Pay ID – a one-time code generated on their Kuda app.
Mustapha disclosed that by authorising online payments with their Kuda Pay ID through SeerBit, Kuda customers can be confident that their financial information is protected, thereby reducing the likelihood of fraud and unauthorised transactions. “The quick and safe payment option removes the need for typing in debit card details when making online payments.”
He stated further that SeerBit is a leading payment infrastructure provider, which offers comprehensive payment solutions that enable businesses to thrive in the digital economy. “Through this partnership, Kuda is reinforcing its commitment to providing secure and innovative financial services that address the evolving needs of its customers.”
According to the 2023 Annual Fraud Landscape report by the Nigerian Inter-Bank Settlement System (NIBSS), N17.67bn was lost to fraud in 2023 which was a 23 percent increase compared to the amount lost in 2022, indicating that online fraud remains a significant concern in the digital payment landscape.
