SeerBit Seeks Unified Payment System To Boost Intra-African Trade

A pan-African payment platform, SeerBit, has advocated the implementation of a Unified Payment System (UPS) throughout Africa to promote financial inclusion, ease economic integration, and foster sustainable growth throughout the region.

The CEO of SeerBit, Omoniyi Kolade, who made the call during a media parley at SeerBit office in Lagos, said Africa’s financial ecosystem is characterised by a plethora of payment systems, each operating in isolation, adding that, this fragmentation hampers cross-border trade, increases transaction costs, and limits the efficiency of financial services.

Kolade disclosed that, SeerBit has, however, come up with payment solutions for the 54 countries in Africa, with 54 different currencies, adding that, “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, optimising transaction management, and delivering actionable insights, SeerBit is poised to become a pivotal player in Africa’s burgeoning fintech sector.

“The payments industry is characterised 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. We have come up with payment options for these markets to ensure that customers are not differentiated. 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 stated.

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On security, Kolade said, SeerBit had put in place robust security features that ensure customers’ funds are safe. We are Payment Card Industry (PCI) compliance certified,”he stated.

Speaking on the goal of SeerBit, Kolade said: “Our goal is to make businesses grow and keep growing. We are not just creating payment solutions; we are also ensuring that your businesses grow as well. We want to build a platform that actually supports everything that has to do with value movement in the market, and we build products to actually meet different stakeholders in different markets.”

In the same vein, the product marketing manager, SeerBit, Uju Akinlolu, disclosed that, SeerBit operates in over 10 African countries, adding that, the payment platform enables the use of all the relevant local payment methods, with collections and payouts in local African currencies, and facilitating cross border settlement in currency of choice.

“With a single API Integration, you seamlessly expand into over 10 African countries allowing you to grow your business operations. With strategic partnerships, zero tolerance for error and stern compliance practices, we work to ensure seamless transactions. Our customers are at the heart of our operations and we work closely with you to ensure the highest level of customer satisfaction. Our solutions are built for flexibility, so they can power any payment process and integrate into any Enterprise resource planning (ERP) systems,” Akinlolu further disclosed.