With over 200million smartphones
in the hands of subscribers, Nigeria’s vibrant potential is locked out by the
lack of inclusive financial solutions to galvanise the industry, an indigenous
fintech, Zojapay, said on Thursday in Lagos.
Its CEO/Founder, Olusegun Dada, who spoke during the unveiling of the ZojaPay application, said the rising penetration of smartphones in the country should be leveraged to empower individuals to venture into business with minimal capital, adding that it breaks down barriers.
He said the search for a seamless
solution to the payment challenges in the country had made him to dream of
creating a platform that would do for Nigeria what Revolut, Wise and other
products did for the United Kingdom (UK), Europe, and the United States (US)
which was transforming and disrupting the market.
He said: “The payment industry is
fast-paced and advanced as current players have done great work creating a
space to serve the growing Nigerian market better. However, we still have a lot
to do in this space. Some areas are still not touched, heights still not
reached, and Zojapay has come to serve Nigerian customers by promising other
unique payment ways to deliver efficiency in a secured process.
“With the rising penetration of
smartphones in Nigeria, ZojaPay emerges as a crucial tool, empowering
individuals to venture into business with minimal capital. It breaks down
barriers, allowing entrepreneurs to thrive without the traditional constraints
of hardware PoS systems and complicated business registration processes.
“Imagine a Nigeria where
financial inclusion is not a distant dream but a tangible reality. ZojaPay aims
to build; a nation where every transaction, regardless of size or location, is
seamless, secure, and accessible; a Nigeria where financial barriers are
dismantled; where digital payments are a part of everyone’s life, not a
privilege. This is the Nigeria that ZojaPay envisions; a place where financial
inclusion isn’t just a goal but a daily reality.”
Reminiscing on how the app was
developed, he said the story began a few years ago when he took a walk through
the bustling streets of Lagos, witnessing first-hand the challenges everyday
Nigerians face. From market traders to small business owners, the complexities
of digital payments were more than just inconveniences; they were barriers. “In
their eyes, I saw the need for a tool that could harness the power of the
abundant smartphone to empower their financial pursuits,” Dada recalled.
According to him, it was during
these walks that the vision for ZojaPay began to take shape, adding that there
were also immense challenges faced in accessing basic financial services as a
nation, saying during these formative years, the seeds for ZojaPay were
inspired and sown.
“With over 200 million people,
Nigeria’s vibrant potential was often hindered by the lack of inclusive
financial solutions. I dreamed of a platform that would do for Nigeria what
Revolut, Wise and other products did for the UK, Europe, and the US—transform
and disrupt the market; a platform that was not just a payment service but a
beacon of financial inclusion.
“The road to creating ZojaPay was
filled with challenges. There were days of doubt but also days of
breakthroughs. We delved deep into the needs of our people, integrating payment
modes like QR codes, NFC, and phone-to-phone transactions. Each feature was
carefully crafted, considering the young professional, Gen Z, trader in the
market and the entrepreneur in the city.
“These innovations ensure that
payments are not just transactions but are seamless, secure, and conveniently
integrated into the daily lives of Nigerians.
“And now, after countless hours
of dedication and collaboration, ZojaPay is no longer just a dream. It’s a
reality—a tool that empowers, simplifies, and secures. It represents not just a
leap in Fintech but a leap towards a future where financial services are
accessible to all. These innovations ensure that payments are not just
transactions but are seamless, secure, and conveniently integrated into the
daily lives of Nigerians.
“As we introduce ZojaPay to the
world, we stand not just as a company but as pioneers in the Fintech industry.
Our vision extends beyond the Nigerian market – we aim to revolutionize the way
financial services operate, opening new opportunities for our clients and
partners across the globe,” Dada, who is the founder of IT Horizons Group with
a presence in Ghana and the UK, said.
Also speaking, Chairman of the
occasion, Mr Babatunde Fajemirokun, said in the dynamic world of finance,
innovation is the key to progress, stressing that any company that is not innovating
would be left behind.
Fajemirokun said: “We all know
the Blackberry story and many others. Our journey towards this launch has been
fuelled by a deep understanding of the evolving needs of our society. We live
in an era where time is of the essence, where convenience is no longer a luxury
but a necessity.
“ZojaPay is a testament to our
commitment to addressing these needs. This app is designed to bring financial
inclusion to the forefront of our mission. Zojapay is more than just a fintech
product; it is an embodiment of innovation, security, and user-centric design.
This application is poised to transform the way we interact with financial
services, making them more accessible, efficient, and secure for every user. We
have meticulously crafted this app to provide you with seamless, secure, and
convenient transactions. You can choose to transact through QR codes, NFC, phone-to-phone,
or the Soft PoS functionalities, ZojaPay ensures payments are possible—however,
wherever.
“The journey to this launch has
been a collaborative effort, involving the dedication and expertise of the
brilliant team at IT Horizons Group, Zojatech and ZojaPay, along with the
invaluable support of our partners and collaborators. Together, we have created
a product that stands as a beacon of innovation in the Fintech industry.
“As we unveil ZojaPay today, we
are not just launching a product; we are inviting you to join us in a movement;
a movement towards a future where financial technology empowers individuals and
businesses alike, creating opportunities and enhancing lives.
“Let us celebrate the launch of
ZojaPay, a beacon of innovation and a symbol of the bright future that lies
ahead in the world of Fintech. Let’s embark on this journey together and
redefine the future of finance in Nigeria.”
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