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By Chinenye Anuforo
Recognising the challenges posed by fragmented payment systems to intra-African trade, SeerBit is spearheading the push for a unified payment system as a strategic solution to accelerate economic growth across the continent.
The company’s Chief Executive Officer, Omoniyi Kolade, who disclosed this during a media engagement at the company’s headquarters in Lagos recently emphasized the need for a harmonised payment ecosystem to facilitate seamless cross-border transactions and stimulate intra-African trade.
Kolade highlighted the fragmented nature of Africa’s financial landscape, characterized by multiple payment systems operating in isolation. This, he argued, hinders cross-border trade, inflates transaction costs, and hampers the efficiency of financial services across the continent.
“With 54 countries and diverse currencies, the complexities involved in cross-border financial transactions often deter businesses and individuals,” Kolade said. “A UPS would streamline these processes, making transactions seamless and more cost-effective.”
While advocating for a unified payment system, SeerBit has not shied away from addressing the current realities of the African market. The company has developed payment solutions compatible with the 54 currencies used across the continent, ensuring that businesses and individuals have a wide range of options.
“We have developed payment options for these markets to ensure that customers are not differentiated and that they have several payment options,” Kolade affirmed.
“Our company has been at the forefront of addressing the pain points associated with payments,” The payments industry is characterized by fragmentation, which presents significant hurdles for businesses of all sizes. SeerBit is dedicated to streamlining this process and enabling enterprises to concentrate on growth.”
SeerBit’s platform is designed to bridge the gaps within the payments ecosystem by providing a comprehensive solution that seamlessly integrates various components of the value chain. By facilitating the acceptance of diverse payment methods, optimizing transaction management, and delivering actionable insights, SeerBit is poised to become a pivotal player in Africa’s burgeoning fintech sector.
“Our ultimate goal is to create a frictionless payment experience for both businesses and consumers. By simplifying payments, we contribute to the overall economic growth of the continent”, Kolade added.
Security remains a paramount concern for SeerBit. The company has implemented robust security measures and is PCI compliant to safeguard customer funds.
“Our goal is to empower businesses to grow and thrive,” Kolade emphasized. “We are building a platform that supports the movement of value within the market and developing products tailored to the needs of different stakeholders.”
Uju Akinlolu, SeerBit’s Product Marketing Manager, added that the company operates in over 10 African countries, offering local payment options, cross-border settlements, and seamless integration with ERP systems.
“Our customers are at the heart of our operations,” Akinlolu said. “We are committed to delivering exceptional customer satisfaction through our flexible and reliable solutions.”
SeerBit’s push for a unified payment system aligns with broader efforts to enhance Africa’s economic integration and create a more prosperous future for its citizens.
