New Fintech company launches in Nigeria to rival Opay, PalmPay, others

QorePay, a new financial technology company, has launched in Nigeria, targeting small and medium enterprises (SMEs) and deepening financial inclusion.

Apart from its payment solutions addressing the challenges of small businesses, QorePay wants to ensure that every SME in Nigeria transitions from the traditional payment system to digital payment.

At the launch of the company in Lagos, the co-founder/CEO of QorePay, Joshua Owoseni, said the company would achieve the plan by providing an easy-to-use solution for all business segments in Nigeria.

The Guardian reports that Owoseni said the improved internet access in Nigeria has provided virile grounds for financial technology companies to grow and for Nigerians to be financially included.

He said the company has witnessed many challenges in Nigeria's payment ecosystem, which it wants to solve.

According to him, payment processing in the country could be arduous, time-consuming, and not affordable in most cases.

He said the firm is launching to address the issues seen in the payment ecosystem by providing hassle-free, secure, and simple payment solutions for everyone.

He said: "We also want to unlock the potential of the Nigerian markets. We see the growth of mobile phones and internet access; these provide a field for fintech to explore the market and create solutions for all Nigerians to be financially included."