In a significant development for Nigeria’s fintech landscape, QorePay, a dynamic financial technology company, has recently unveiled its operations, setting the stage for direct competition with established players like Opay and PalmPay. The company’s strategic focus is on small and medium enterprises (SMEs), aiming to play a pivotal role in advancing financial inclusion across the country.
During the official launch held in Lagos, Joshua Owoseni, the Co-founder and CEO of QorePay, outlined the company’s mission to address the unique payment challenges faced by SMEs. The overarching goal is to facilitate a smooth transition for Nigerian businesses from traditional payment systems to more efficient and secure digital payment methods.
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Owoseni emphasized the crucial role of improved internet access in Nigeria, providing a conducive environment for the growth of fintech companies. QorePay aims to capitalize on this technological advancement to offer user-friendly solutions tailored to diverse business segments.
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The company acknowledges the prevalent challenges within Nigeria’s payment ecosystem, including issues such as arduous processing, time-consuming transactions, and affordability concerns. QorePay enters the market with a commitment to providing hassle-free, secure, and straightforward payment solutions to address these issues comprehensively.
“We also want to unlock the potential of the Nigerian markets. We see the growth of mobile phones and internet access; these provide a field for fintech to explore the market and create solutions for all Nigerians to be financially included,” explained Owoseni.
QorePay’s foray into the market reflects the broader trend of expanding financial technology in Nigeria. Leveraging the increasing ubiquity of mobile phones and internet connectivity, the company aims to contribute to the growth of the fintech sector while ensuring financial inclusivity for businesses and individuals across Nigeria.
As QorePay positions itself as a formidable contender in the fintech arena, industry observers anticipate increased competition and innovation, ultimately benefiting consumers and fostering the evolution of Nigeria’s digital payment landscape.
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