Payant, a platform that is aimed at making Invoicing, sending and receiving money easy in Nigeria/Africa has reached a milestone. So far in 2018, the FinTech company have processed over N1,000,000,000 (One Billion Naira) in total transaction volume with over 1,600 registered merchants.
African merchants are better for using Payant, as it helps them make invoices, send money, receive money very easily. So, it isn’t too surprising that the platform has processed such amount of money at this time.
Right from their first payment which was for N500, and occurred on 1st Jan, 2017. They have facilitated their lowest payment which was for N1 and their highest value processed at a single time is N400,000. By the end of last year, they have processed over N100,000,000 (One Hundred Million Naira) in total transaction volume with just a little over 1,000 registered merchants.
Why volume of transactions is important in this case is that it goes to show how much trust the merchants put in their platform. That allows them to move funds from one account to another in payment for goods and products.
Payant will, over the next couple of months, make several updates to their platform. They’ll be “adding USSD payments, opening up our school collections portal and much more amazing stuffs.”