By Adedapo Adesanya
Nigerian fintech startup, SeamPay, has launched a mobile wallet that provides users with a fast, safe, easy and contact-free way to send and receive money and pay for products and services.
SeamPay aims to provide users with payment experiences that are seamless, inclusive and simple, and delightful.
Speaking on this, Mr Abubakar Mohammed, the startup’s co-founder and chief technology officer (CTO) said the service hopes to build on many faults from payment systems and offer improved solutions.
“As customers ourselves, we have frequently experienced the failures of the current payment system in Africa which brought about the inception of SeamPay.”
For now, the startup is working on its Minimum Viable Product (MVP) and seeking product-market fit, and it is doing so in a busy local market.
“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.
“However, 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,” Mr Mohammed said.
SeamPay believes it is that system saying its mobile wallet platform aims to disrupt the payments space. The bootstrapped startup has begun seeking investment and has already built a waitlist of over 4,000 users ahead of its formal launch in December.
