PayedIn Launches Its Pay Solution App in Nigeria

PayedIn Technology, a fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firm, announced that it has launched what it describes as a ‘simple-to-use payment solution’ in Nigeria in order to support the digital economy. The initiative is based on the company’s entry strategy in the country and has formed a partnership with McHenrich Technologies, a Nigerian information and communications technology firm, to reach Nigerian merchants.

Aditya Padhi, Co-founder and Chief Technology Officer at PayedIn, talked about the development and said: “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.”

Henry Igbo, Managing Director at McHenrich Technologies, also commented on the development and stated: “We are confident that the synergy between our technology distribution expertise and network combined with PayedIn’s technology will result in the transformation of the merchants’ financial transaction ecosystem for good.”

PayedIn is a digital marketplace that aims to power the offline to the online transition of customers and merchants through technology. The company, formed in 2021, helps businesses in Africa with online transition solutions.

Nigeria Is Becoming Africa Most Viable Investment Destination

The move by PayedIn to launch its financial product in Nigeria comes at a time when the country has become the leading economy in Africa with a high potential of its economic powerhouse. The nation’s economy demonstrates diversity in terms of available opportunities including agriculture, telecommunications, transportation, power, oil and gas. Nigeria boasts several new and uncharted opportunities for investors and the popularity of forex trading has increased immensely in the commodity-rich African nation.