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Seamless Cross-Border Payments for Africans
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Published August 25, 2025
Nigeria’s fintech sector is booming. In the past year alone, electronic payments crossed ₦600 trillion, according to the Central Bank of Nigeria (CBN). This shows how fast people and businesses are moving towards digital finance. But behind the big numbers, one problem still remains: cross-border payments are difficult, expensive, and often unclear. Hidden fees, unstable exchange rates, and long delays continue to frustrate users.
Vepay was built to make payments simple, clear, and affordable - when paying locally or internationally. With Vepay, you can top up your wallet easily, see real-time exchange rates for over 150 currencies, and use instant virtual dollar cards for global payments. This means you can shop online, pay for subscriptions, or send money abroad without worrying about hidden charges or confusing rates. And coming soon, we’ll be rolling out cross-border payments within Africa, making it just as easy to send and receive money across the continent as it is at home.
For businesses, the value is even greater. Many SMEs in Nigeria and Africa still struggle with inconsistent rates, limited payment access, and long settlement times when dealing with global suppliers or partners. Vepay removes this friction by giving them a reliable, cost-effective, and secure way to transact across borders.
Our growth so far shows the demand is real. Since launching in July 2025, we’ve processed over $7,000 in transactions and built a growing community of 400+ early adopters and counting. These are individuals and businesses who want better tools for a more connected financial world.
And this is only the beginning. In the coming months, we are expanding into a B2B model, giving companies the same transparent pricing, live FX access, and enterprise-grade security that individuals already enjoy. This expansion will help SMEs unlock growth - whether in e-commerce, tech, or services - by giving them payments that work as easily across borders as they do at home.
This shift is happening at the same time as Africa’s trade landscape is transforming. Systems like the Pan-African Payments and Settlement System (PAPSS) are reducing cross-border transaction costs from as high as 20–30% to as low as 1%. Under the AfCFTA framework, Nigeria’s intra-African trade reached $18.4 billion in 2024, more than double the year before. These trends show a continent that is ready for smarter payment systems - and Vepay is building to meet that need.
We don’t see ourselves as just another fintech app. We are building a financial bridge - one that connects individuals and businesses in Africa to each other, and to the global economy.
We know the challenges because we’ve faced them too. That’s why our focus is on solutions that feel intuitive and practical, not overengineered. By solving real problems for users, we’re helping shape a financial future where payments are no longer barriers but enablers of opportunity.
For years, the global payments industry has been guided by assumptions that have gone largely unchallenged. Fees are seen as inevitable, settlement delays as unavoidable, and strong security as something that must come at the expense of convenience. These beliefs have shaped how money moves across borders and within markets, quietly dictating the customer experience.
In a region where the movement of funds between countries has long been slowed by complex systems and high costs, Vepay is driving a new era of seamless cross-border payments.
Africa’s cross-border payment landscape has evolved meaningfully over the past few years. Digital financial services have improved access, reduced dependency on cash, and enabled broader participation in global commerce. Individuals now transact beyond borders with greater ease, and businesses increasingly rely on digital payment rails to operate across markets.
At Vepay, we have rolled out a major platform update that marks a meaningful step forward in our long-term mission to build reliable, borderless payment infrastructure for Africa.
Payment collection remains one of the most critical aspects of running a business today. Across Nigeria, many businesses still operate with multiple disconnected payment channels. Transactions come in from different sources, reconciliation is often manual, and visibility across operations is limited. As businesses grow, this complexity only increases - especially for those managing multiple outlets, locations, or service channels.