"How Raize is Introducing Nigerians to Seamless Financial Interactions" - Founder, Olumide Abayomi
- Another fintech company has launched in Nigeria to ensure seamless payment transactions and deepen financial inclusion
- Raize says it targets Small and Medium Enterprises and everyday Nigerians in its quest to provide seamless payment solutions
- In an exclusive conversation with the founder, he talks about the future of fintech payment platforms in Nigeria
Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.
Digital payments have seen a significant rise in Nigeria, transforming the country's financial landscape and fostering financial inclusion.
With a population exceeding 200 million, the widespread adoption of digital payment methods has provided a more efficient and accessible way for Nigerians to manage their finances.
Raize, a revolutionary peer-to-peer payment solution built to simplify the world of finance for Nigerians everywhere, is a newcomer set to redefine the payment landscape.
Source: UGC
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From a spark of idea to a payment solution
Raize is a platform that bridges the gap between traditional banking and seamless transactions, empowering individuals, businesses, and SMEs with secure and efficient financial interactions.
Olumide Abayomi, founder of Raize Hq told Legit.ng the journey began with a spark of an idea and a burning passion to create something meaningful that addresses a need.
He said the platform was built on the simple dream of securing instant payments and financial inclusion for all.
He said:
"Thinking back to the hardship we’ve all experienced as an everyday business owner in Nigeria in terms of payment or access to uninterrupted payment solutions is alarming. It was at this final moment, that I decided that the time was now.
"As a result, it has included all the important features a payment gateway should come with, along with a differentiating factor that is the game changer in the payment app space."
More than a peer-to-peer payment solution
According to Abayomi, Raize's vision is to catalyze a transformative shift in payment systems across Africa.
The mission is to empower individuals, corporations, and SMEs to a world of seamless financial interactions, starting with one transaction at a time.
He said:
"Raize's vision is to catalyze a transformative shift in payment systems across Africa. The mission is to enable empowerment by introducing individuals, corporations, and SMEs to a world of seamless financial interactions, starting with one transaction at a time."
In a contemporary landscape where time holds significant value and convenience plays a crucial role, Abayomi asserts that Raize is a reliable ally dedicated to streamlining peer-to-peer transactions.
He said:
"At Raize, our journey started with a singular mission: to eliminate the frustrations caused by failed payments, unreliable bank networks, and the all-too-common dread of delayed transactions. We believe that financial interactions should be secure, instant, and empowering for everyone involved."
Raize empowers businesses
In recent times, many digital payment platforms have emerged in Nigeria, but Abayomi says what makes Raize different from others is its ability to operate seamlessly without reliance on the traditional banking system.
He said:
"Traditional banking systems can be slow, cumbersome, laden with interoperability issues, and hidden fees. But we understand the importance of financial autonomy, especially in a rapidly evolving digital landscape. With our peer-to-peer pay code solution, businesses can experience streamlined transactions that enhance productivity."
Financial inclusion for all
The Central Bank of Nigeria stated that only 61% of Nigeria's population is financially included, but it hopes to raise this to 95% by the end of 2024.
This gap in financial inclusion is what fintech platforms hope to cover up, with a particular focus on unbanked populations in rural areas.
Abayomi said:
"Raize is not just for businesses; it's for everyday Nigerians seeking financial empowerment. With our solution, we factor every user into our solution with our USSD, which will give access to people without internet-enabled devices as we will be bringing the ease of transacting to your doorstep."
The digital payment ecosystem in Nigeria is not only witnessing remarkable growth but also reshaping the way people manage their money.
The journey towards a cashless society is underway, promising greater financial inclusion and economic efficiency for the nation.
As infrastructure improves and awareness spreads, the impact of digital payments on Nigeria's economy is likely to be even more profound in the years to come.
FintechNGR moves to curb fraud in digital banks
In related news, Legit.ng reported that the FinTech Association of Nigeria (FintechNGR) is working on an initiative to combat fraud in the industry.
The association is a self-regulatory body incorporated in Nigeria by the Corporate Affairs Commission CAC and a global body Global Fintech Hubs Federation member.
According to the association, the action aims to preserve the integrity of the country's digital infrastructure, meticulously built over the past two decades.
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Source: Legit.ng
