A new Nigerian fintech startup, OnePurze, is betting that rising demand for fast cross-border payments, reliable virtual dollar cards and access to foreign currencies will help it win a place in one of Africa’s most crowded fintech markets.
The company, which launched earlier this year, said it is building a payments platform for Nigerians and other Africans who need to send money abroad, receive funds from overseas, pay international bills and manage money in multiple currencies.
The push comes at a time when cross-border payments are becoming one of the hottest battlegrounds in Nigeria’s fintech sector. More Nigerians are now working remotely for foreign employers, freelancing for global clients, paying for online subscriptions, shopping on international platforms and doing business with customers outside the country. That has increased demand for simple ways to hold, spend and move money across borders without the delays, failed transactions and unclear charges that often frustrate users.
OnePurze said it has already onboarded more than 750 customers organically since launch, without spending on advertising. While that number is still small compared with bigger fintech rivals, it suggests there is appetite for platforms that solve everyday payment problems, especially for users who struggle with international transactions.
The company’s founders, Ologun Damilola and Bako David, say OnePurze was built to remove some of the biggest pain points Nigerians face in digital payments: slow international transfers, poor exchange rates, unreliable virtual cards and limited access to foreign currency tools.
“One of the biggest problems people face is that making payments outside Nigeria can still be stressful. We want to make cross-border payments fast and seamless, with clear pricing and no hidden charges,” Damilola said.
That focus on trust and transparency is central to the company’s pitch. In a market where users are often hit by failed card transactions, sudden charges or confusing exchange rates, OnePurze says it wants to stand out by showing customers exactly what they are paying for and by giving real-time visibility into transactions.
Its cross-border payments product, launched in May, allows users to send, receive and save money in multiple foreign currencies at what the company describes as low and transparent fees. The service is aimed at a broad group of users, from small businesses paying foreign suppliers to freelancers receiving income from abroad and everyday consumers trying to settle digital subscriptions.
One of OnePurze’s biggest selling points is its virtual USD card. In Nigeria, virtual dollar cards have become an essential tool for paying for services such as Netflix, iCloud, Meta advertising, Google subscriptions and online shopping. But users often complain that one card works for one platform and fails on another, forcing them to keep several cards from different providers.
OnePurze says its card is designed to reduce that friction by working across a wide range of services and merchants including PayPal, Amazon, Google, LinkedIn, Canva and Meta. The company is positioning the product as a more dependable option for users who want one card for several international payments instead of juggling multiple fintech apps.
That strategy could help it tap into a large gap in the market. Nigeria’s fintech boom has already produced strong local payment products, but cross-border finance remains a weak point for many users. Dollar shortages, changing card policies, FX volatility and tighter global compliance rules have made it harder for consumers and businesses to access international payment channels smoothly.
For startups like OnePurze, that challenge is also the opportunity. Rather than compete only on local transfers, the company is targeting a part of the market where demand is growing quickly: borderless banking for Africans who increasingly earn, spend and save across different countries and currencies. This includes remote workers paid in dollars, diaspora-linked families sending money home, digital entrepreneurs running online businesses and small firms that need to pay for software, inventory or marketing services abroad.
The broader bet is that African users no longer want only a local wallet. They want a financial platform that can move with them across borders.
That shift is becoming more important as the global gig economy expands and more African professionals sell services to clients outside the continent. In that environment, fintechs that can combine local payments with foreign currency accounts, dependable cards and low-cost international transfers may have a better chance of holding on to customers for longer.
Still, OnePurze is entering a market that is already highly competitive. Nigerian fintech users have no shortage of apps promising faster transfers, better rates and dollar cards. To break through, the startup will need to prove that its card works consistently, its pricing remains competitive and its customer support can keep up as volumes grow.
Its early traction without advertising may help its case, but scaling will likely depend on how well it handles trust, compliance and liquidity; three areas that can make or break a cross-border payments business.
For now, OnePurze is presenting itself as more than just another payments app. It is pitching a future in which Nigerians and other Africans can send money, receive global payments, pay for digital services and manage foreign currency balances from one platform without the usual friction.
If it can deliver on that promise, the startup may find a profitable opening in a market where the demand for borderless financial access is growing faster than the supply of reliable solutions.
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