Technology
Fliqpay Eases Global Multi-Currencies Transactions
By Adedapo Adesanya
In order to scale up the kind of cross-border payment services that financial institutions and businesses need, Fliqpay’s vision is simply to create a world where the transfer of value is immediate and simple.
The fintech company is building a suite of payment infrastructure that allows global businesses operating in Africa and around the world to transact internationally in multi-currencies.
The service provides a safe and secure way for businesses to make payments while offering multiple digital currency-fiat conversions at the best exchange rate possible.
Fliqpay leverages blockchain technology to significantly reduce the transaction cost by up to 80 per cent while settling transactions in seconds. Tapping into this liquidity through open automated application programming interface (APIs) of exchanges, decentralised protocols, multi-currency payment gateways and wallet providers.
It currently allows businesses receive payments across the globe in different digital currencies such as Bitcoin (BTC), US Dollar Tether (USDT), Ethereum (ETH), Litecoin (LTC), and to be settled in local currencies such as, Nigerian Naira (NGN), South African Rand (ZAR), Kenyan Shilling (KES) and Ghanaian Cedis.
Through Fliqpay’s dashboard, businesses can create payment links, share via email, SMS, social networks or any medium of choice and get paid instantly and securely. For businesses who choose to accept payments directly from their website, Fliqpay’s easy-to-integrate payment button is embedded on their website, enabling them to receive payments in digital currencies safely.
With Fliqpay’s suite of cross-border payments infrastructure, global businesses and financial institutions will be able to seamlessly connect with their regular local payment channels, initiate transactions and make payments to suppliers.
It also aims to offer its API products to a wide range of customers including Neobanks, Traditional banks, Payment companies, Remittance platforms, Money Transfer platforms and other Fintechs.
The service has been touted for African businesses that are paying suppliers and other vendors, foreign businesses operating/exploring operations in Africa and other emerging markets and emerging market operators planning to expand across Africa and globally, financial institutions and fintechs. It is safe, secure and licensed by the Financial Transactions and Reports Analysis Centre of Canada.
Fliqpay is a cross-border payments infrastructure that enables financial institutions, fintechs and global businesses to make and accept global payments in multiple currencies securely. It supports payments and payouts in multiple currencies in different countries, including the US, UK, EU & China and African countries, including Nigeria, South Africa, Kenya & Ghana.
Technology
Nigeria to Launch NIGCOMSAT Satellites in 2028, 2029
By Adedapo Adesanya
Nigeria has set 2028 and 2029 as the timeline for the deployment of its new satellites, NIGCOMSAT-2A and 2B, respectively.
The Managing Director of NIGCOMSAT, which is Nigerian Communications Satellite Limited and the premier satellite operator in Nigeria, Mrs Jane Nkechi Egerton-Idehen, disclosed this at the second Nigerian Satellite Week in Abuja on Monday. She noted that the development is expected to boost military intelligence, surveillance, and regional connectivity.
“For 2A and 2B, we have started the process. We have closed the tender and are now back into the financing and implementation stage. 2A is built to come up in 2028, and 2B for 2029.
“When they are up and running, they are expected to provide security within the borders and neighbouring countries. They will support the security agencies because data collection and intelligence in real time is important. Satellites like communication satellites allow that, irrespective of where they are,” she said.
In his remarks, the Minister of Communications and Digital Economy, Mr Bosun Tijani, said the satellites form part of the nation’s strategy to strengthen digital infrastructure.
Mr Tijani explained that the satellites will complement ongoing investments in 90,000 kilometres of fibre-optic cable and nearly 4,000 telecom towers, which are being rolled out nationwide and extended to neighbouring countries, including Cameroon, Niger, Chad, Burkina Faso, and the Republic of Benin.
He stressed that satellite technology is critical for national development, affecting education, agriculture, business, and emergency response.
“The president’s approval of NIGCOMSAT-2A and 2B demonstrates a clear commitment to building the future. These satellites will enhance security, connect remote communities, and extend our fibre-optic network into neighbouring countries,” he said.
“Some of these neighbouring countries pay up to ten times more for internet capacity than Lagos. Extending our fibre network will not only improve connectivity but also enhance border security and regional collaboration.
“Satellite technology affects everything, from how a child in a rural community accesses the internet to how farmers make critical decisions and how businesses operate across distance,” the Minister said.
Also speaking, the Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, welcomed the development, saying the military will leverage the satellites for operational efficiency.
“The Nigerian Army will continue to use space assets to improve intelligence gathering, surveillance, and operational coordination across all theatres of operation,” he said at the event, represented by Major General Kennedy Osemwegie, Commander of the Nigerian Army Cyber Warfare Command (NACWC).
Technology
Interswitch, KCB Group to Deliver Innovative Financial Solutions in East Africa
By Modupe Gbadeyanka
A partnership to advance digital payments and financial inclusion across East Africa has been strengthened between Interswitch and KCB Group.
Both parties have agreed to expand digital payment infrastructure and deliver innovative financial solutions that meet the evolving needs of individuals, businesses, and institutions across the region.
The aim is to accelerate seamless, secure, and inclusive digital payments in East Africa, where the leading Africa-focused integrated payments and digital commerce enabler, Interswitch, recently announced an expansion of Verve card acceptance footprint, leveraging its consolidated partnership with KCB Group, Kenya’s largest financial services group by assets, following a similar move in Uganda through the local KCB Franchise in February 2022.
During a recent executive engagement at KCB Group headquarters in Nairobi, the chief executive of Interswitch, Mr Mitchell Elegbe, held high-level discussions with KCB leadership, including its chief executive, Paul Russo.
At the core of the strengthened collaboration is the integration of Interswitch’s robust payment rails, card scheme, and emerging digital token solutions with KCB Group’s expansive regional footprint and trusted banking franchise.
This integration enables the acceptance of Verve cards and tokenised payment solutions across KCB’s extensive merchant point-of-sale network in Kenya and Uganda, significantly enhancing everyday usability for customers while strengthening KCB’s digitally driven retail payments offering.
The consolidated partnership is expected to drive increased merchant acquisition, improve interoperability across payment ecosystems, and expand access to secure, cashless transactions. It also reinforces both organisations’ shared objective of deepening financial inclusion and accelerating digital commerce across East Africa.
“Our collaboration with KCB Group represents a powerful alignment of vision and capability. By combining our technology-driven payment solutions with KCB’s strong regional presence, we are unlocking new opportunities to scale access, drive innovation, and deliver greater value to customers across East Africa,” Mr Elegbe stated.
Technology
Telcos to Compensate Customers for Service Disruptions—NCC
By Adedapo Adesanya
The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to provide compensation to subscribers whose network quality of service experience is below specified targets within specific locations.
In a Sunday statement, the commission noted that its position is that customers should not be made to bear the full burden of service disruptions where operators fail to meet prescribed standards of service delivery.
Under this directive, NCC said erring operators would compensate affected users directly for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs).
Mobile Network Operators (MNOs) will be required to pay these compensations for instances of poor quality of service recorded within specified time frames.
“The compensation will be provided in the form of airtime credits, calculated based on subscribers’ average spending patterns and their presence within Local Government Areas where service failures occur”, according to the statement.
The directive is rooted in the agency’s broader regulatory philosophy that places the consumer at the centre of Nigeria’s telecommunications ecosystem.
“Telecommunications services today underpin economic activity, social interaction, and access to digital opportunities. When service quality is poor, the consequences affect productivity, commercial activities, and even public confidence in our communications system.
“While regulatory fines have traditionally served as a deterrent against poor service delivery, the Commission is adopting a more consumer-focused approach that strengthens accountability within the industry”.
The commission explained that it has designed this measure to complement existing and ongoing efforts to strengthen service quality monitoring and enforce performance standards.
Further to this directive by the commission to MNOs on compensation to consumers, the regulator has mandated Tower Companies that own the critical infrastructure, such as masts, for Quality of Service delivery, to invest in infrastructure with measurable outcomes using sums that it has fined these companies, in addition to other financial fines the Commission will deem appropriate.
“The commission will continue to reinforce the obligation of operators to invest consistently in network resilience, capacity expansion, and infrastructure upgrades to meet the growing demand for telecommunications services.
“At the same time, it will deploy regulatory tools that promote fairness, transparency, and accountability across the sector, ensuring that every subscriber receives the quality of service they deserve while sustaining a telecommunications industry capable of powering Nigeria’s digital future”, the statement added.
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