Nigeria’s digital payment landscape bustling with potentials- Expert

…As Woven Finance reshapes future of digital finance

Nigeria’s digital payment landscape is bustling with potentials, Aremo Adeleke, Group Managing Director, Plural Group has said.

It is seen that with rapidly growing population, increasing smartphone penetration and high internet usage among Nigerians, the nation is becoming a big player in digital economy.

Speaking recently at the unveiling of a refreshed brand identity and re-launched platform by Woven Finance Limited, a foremost innovator in the Nigerian fintech sector, Adeleke said “this growth comes with a share responsibility to ensure that innovations are sustainable, accessible, and transformative.”

He believed that Woven Finance is positioned as a key driver to this growth; “its investment in cutting-edge IT infrastructure that makes service delivery superfast and seamless, its partnership with local businesses, and its commitment to roll out payment services products for different categories of consumers all underscore the company’s dedication to empowering Nigerians to thrive in a digital economy.”

Adeleke, said that Woven Finance has come to fill a gap in the financial services sector. “Since inception Woven Finance has held a bold vision to become a trusted partner for businesses and individuals, helping them to navigate the complexities of digital payments with security, ease and transparency.”

Addressing attendees, according to a statement, Collins Obafemi, CEO, Woven Finance, emphasized that the brand refresh is “not merely a new logo or design, but a renewed commitment to our mission.” He expressed his heartfelt gratitude to partners, regulators, clients, employees, and collaborators for their continuous support, stating that their presence and participation were invaluable to Woven’s journey and aspirations.

“Over the past four years, Woven Finance has become a prominent player in Nigeria’s financial sector, delivering secure, seamless financial services across Technology, Education, Fashion, Gaming, Logistics, Healthcare, Social Work, and Lending. Milestones include the pioneering introduction of Virtual Accounts in Nigeria in 2020 and an impressive customer base of over 5.2 million, with daily transaction volumes averaging over N1.2 billion across more than 105,000 transactions”. Obafemi attributed this growth to the company’s commitment to innovation and adaptability. “Our journey has been fuelled by a desire to stay ahead of trends and meet the evolving needs of our customers,” he added.

Obafemi further explained that , Woven’s re-launched platform offers a range of features designed to enhance customer experience and meet the highest standards of security and functionality. These, he said, include: to enhance user experience, and a seamless, intuitive interface designed for ease of use. Others are streamlined payment processes that makes for faster and more efficient transactions. He also included advanced security measures such as cutting-edge technology to safeguard users’ financial data; and expanded range of services like broader financial solutions tailored to meet diverse customer needs.

At the event, Obafemi spoke about the transformative potential of digital technologies like AI, blockchain, and cloud computing in revolutionizing financial services. He noted that Woven Finance is committed to harnessing these advancements to stay at the forefront of the fintech revolution, envisioning a future where financial services are more integrated with everyday life, enhancing both lifestyle and financial well-being.