PayedIn Technology, a FinTech startup, has launched what it calls a simple-to-use payment solution in Nigeria to support the digital economy. With the added feature, merchants can register to receive their payment within minutes. This solution promises to accelerate the country toward a cashless culture. PayedIn is secure by design with state-of-the-art security features including email and phone number verification, two-factor authentication, and biometric security to keep transactions secure. As part of its strategy, PayedIn has partnered with McHenrich Technologies, the Nigerian information and communications technology company.
PayedIn said in keeping with the digitalization of Nigeria’s economy, businesses and entrepreneurs are expected to have a secure and simple ePayment solution. But the ones out there are complex and typically require complicated hardware or complex systems integration. Nigeria is one of many African nations that is adopting digital banking tools. A network went live with 12 banks in Africa to enable payment transactions and alleviate trade issues across the continent, which deals in more than 40 currencies.