BusinessDay

Nigeria’s Kudi changes name to Nomba to make financial services affordable

Kudi, an African fintech company has changed its name to Nomba as it transitions into an omni channel payment platform.

The company was launched in 2017 as a chatbox designed to simplify payments. In 2018, it developed into a company with a distinct point-of-sale (POS) technology, as well as partnerships with banks and other licensed financial institutions.

“Since our launch in 2017, our technology and insight has enabled businesses to build and transform other businesses. Today’s complimentary regulatory framework and partnership with financial institutions have helped to boost and create an enabling environment for fintech to chart the future of payments, making access to solutions on payments matters,” Yinka Adewale, Chief Executive Officer, Nomba, said.

Nomba is on a mission to make financial services accessible and affordable. “We are one step closer to bringing a lasting change to Africa and Africa commerce,” Adewale said.

The company stated that it currently processes over $16 million in payments daily across more than 500,000 transactions, with a rate of over 10,000 new businesses monthly.

According to the company its range of services has been expanded to provide easy to use business tools for all kinds of businesses to accept, process and manage payment online and offline.

Read also: How embedded finance can drive Nigeria’s financial inclusion

These tools will offer more businesses of all sizes across Africa, a distinct gateway into the digital economy, while enabling them to optimise their operations.

“Over the next five years, we will be leveraging these factors, as well as the experience and expertise of our partners to deepen the penetration of digital payment solutions across the country, making payments easier for everyone, Adewale said.

The company also stated that there are over 150,000 businesses on its platform to carry out cash, card and bank transfer related transactions for its own businesses and on behalf of its customers.

Get real time updates directly on you device, subscribe now.