Technology
Nigerian startup SeamPay launches digital payment wallet
With the vision to provide users with a fast, safe, easy and contact-free way to send and receive money and pay for products and services, Nigerian fintech startup SeamPay has officially launched a mobile wallet that sees to this end.
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The newly launched venture aims to provide users with payment experiences that are seamless, inclusive, simple, and delightful. According to Abubakar Mohammed, co-founder and chief technology officer (CTO), the mobile wallet was inspired by the vacuum created by existing players.
He stated: “As customers ourselves, we have frequently experienced the failures of the current payment system in Africa which brought about the inception of SeamPay .” The startup has, however, stated that it is currently working on its MVP and seeking product-market fit.
He said: “The Nigerian market had quite a number of successful launches in the area of fintechs rising up to create a product or provide an alternative solution, ranging from digital banks to mobile payments solutions and so much more.”
Adding that existing ventures failed as they major in replicating similar industry solutions. “The major gap in the market is that most of the fintechs were actually replicating already existing systems and trying to package it differently, and this allowed us to actually understand that payment systems are still unreliable, unsecured and often-times complicated.
The market still needs a reliable, secure, fast and instant payment system without all the drawbacks current systems are known for,” he submitted.
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