Mastercard, NetPlusDotCom and Innovectives have announced the launch of Merchant Digital to provide micro, small and medium-sized enterprises in Nigeria with digital payment tools.
The platform enables Nigerian businesses to accept digital payments through optimized solutions such as Mastercard Quick Response (QR), USSD codes, contactless transactions, point-of-sale terminals and web payment gateways to grow ecommerce. Consumers also benefit from added convenience via multi-payment options.
Furthermore, strong performance scoring tools support access to micro-loans and credit, enabling MSMEs to grow and sustain their businesses in Nigeria. Secure digital records for their businesses make it possible for lenders to review income and cashflow history, enabling quick, informed decision making.
“Partnerships remain an important part of Mastercard’s work to effect financial inclusion in Nigeria and the rest of Africa. Alongside NetPlusDotCom and Innovectives, we are delighted to mark this milestone of empowering one million merchants to seamlessly onboard themselves and benefit from opportunities to accept digital payments and avail credit. Bridging the digital divide is key to advancing sustainable growth and given that MSMEs form such a significant, important part of the economy, we are proud to be able to extend our support in this way,” said Ebehijie Momoh, Area Head West Africa, Mastercard.
“Small businesses increasingly realize that their ability to accept secure digital payments is an essential component of their successful digital transformation, especially given the additional challenges of COVID-19. Digital tools help businesses to drive revenue, lower costs and choose focus areas,” said Wole Faroun, Managing Director & Founder at NetPlusDotCom.
“At Innovectives, we have a growth mindset fueled by the abundance of opportunity for wealth creating solutions in Africa. This partnership is a fantastic opportunity to help Nigerian merchants by providing integrated payment solutions that can also pave the road to obtain credit and financing. We are helping small businesses to grow, flourish and scale,” said Emmanuel Agha, Group CEO of Innovectives.
