Banking
Introducing Squad: The Complete Payments Solution for your Business
Payments: They are the core of every business. And so, in an era where digital has won over brick and mortar, it became imperative to create requisite payment solutions that can offer businesses of today speed, reliability, and convenience, so that they never miss a sale.
Meet Squad: an all-in-one payments tool to help your business grow.
Driven by our in-depth knowledge of digital payments in Africa and the collective years of expertise of our Parent Company, GTCO, in the payments landscape, we are proud to launch Squad, a framework of payment solutions to enable merchants to make and receive payments from anywhere in the world. At Squad, our vision and mission are rooted in empowering African merchants through payments — to create an Africa where every payment is digital.
What is Squad?
Squad is a complete payments solution for businesses in Africa, made to support business owners with the tools required to thrive in the digital economy. The goal is to ensure that businesses never miss a sale and grow and expand beyond their current reach.
Squad was created to transform payment processing, accounting and reconciliation, financial management and e-commerce. Think of it as an integrated suite of payment technologies that merge different facets of your business into one centralized function!
Why Squad?
- Complete payments solution: With Squad, you get all the tools you need to receive, track, and manage payments for your business. From the convenience of just one dashboard, you can accumulate and reconcile all your transactions, receive instant settlements, and set up an e-commerce storefront where your products and services are visible to your customers.
Squad also offers an innovative soft POS feature called SquadPOS, which allows you to turn your mobile phone into a personal point-of-sale terminal to evolve and speed up your customers’ payment experiences in-store. With this tool, you can reduce hardware costs and customer wait times with the perfect contactless payment solution through any Android device that suits your needs.
- Super easy to use: With our seamless interface, you can set up quickly and start accepting payments in 15 minutes. Squad’s APIs are uncomplicated to integrate into your website and are currently optimizable with WordPress, Shopify, Wix and Drupal.
- Affordable, yet best-in-class: We keep fees at the minimum and are honest about our pricing. Set-up costs are free, with the fees per transaction capped at N1,500 irrespective of the value. Local transactions via payment links attract a 1% charge only, and international transactions, 3.5% — some of the lowest rates in the market today. By reducing our prices, we trust that businesses can allocate more of their finances towards other facets of their operations.
- Keeps your funds secure: We are deeply committed to safeguarding the funds of our customers from malicious actors, and we achieve this through the activation layers of security measures such as KYC verification, real-time monitoring, and advanced data privacy tools.
- Offers your customers a choice: With payments today, it is safe to say that one size does not fit all. Customers now have more ways to pay than ever before. With an all-in-one payment solution like Squad, your business is well-positioned to offer customers the right payment mix that suits their various needs and preferences. In so doing, you elevate your customers’ payment experience and prevent them from moving to a competitor that offers flexibility.
- Never miss a sale ever again: That’s right! From our e-commerce storefront feature to accessible payment links, virtual accounts, USSD, and SquadPOS — every product under our suite was created to ensure that you meet your customers’ payment needs at every channel — online, in-store, anytime and anywhere.
Get to know about our different products:
Ready to get started with Squad?
Say less! Visit our website at https://squadco.com/ to create a free account. Fill in your details and get started immediately. You do not need to be a registered business to sign up or receive payments.
Interested in finding out more about these products? Contact us via email — at he**@*****co.com and stay glued to @OfficialSquadCo on all platforms for more information.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
