Businesses Go For Platnova To End High-volume Transaction Hiccups

African businesses scaling rapidly have found a new ally in managing payments efficiently in Platnova Business, a platform that handles high-volume transactions and offers a unified, scalable alternative to fragmented systems.

The chief executive officer of Platnova, Benjamin Oyemonlan, said the platform was developed in response to growing frustrations among companies.

He said, “Finance teams were drowning in manual reconciliation while developers wasted time patching broken APIs. We built Platnova Business to remove those barriers entirely. Processing billions in transactions is routine for us,” he said.

In a press statement issued by the Lagos-based fintech company, Oyemonlan said Platnova also offers a human-centric support model, assigning dedicated integration specialists and account managers to high-volume clients to ensure smooth onboarding and continued operations.

He said that for businesses processing thousands of transactions daily, even brief system downtime can disrupt operations and erode customer trust, stressing that traditional payment providers, built for average usage, often struggle to handle peak periods, forcing companies to rely on multiple tools for collections, payouts and reconciliation.

According to him, Platnova Business addresses these challenges through its NGN Virtual Account system, which automates reconciliation at scale. “Businesses can create up to five virtual accounts per customer, enabling smooth management of transactions ranging from thousands to billions of Naira.

“The platform also allows flexible settlement schedules, letting companies choose daily, multiple daily, or bespoke timing to manage liquidity efficiently. Its API supports fast and reliable bulk payouts, catering to payroll systems, gaming platforms and other high-volume use cases,” Oyemonlan said.

He explained that standard collection transactions are charged at 1% plus N100, capped at N5,000, while payouts cost N107.50 inclusive of VAT. Businesses processing over 2,000 transactions daily benefit from a high-volume tier, with a flat fee of N500 per collection transaction, designed to reduce operational costs.

The firm’s chief added that, with its combination of advanced infrastructure and personalised support, Platnova is positioning itself as a key partner for ambitious African enterprises seeking reliable and high-volume payment solutions.