Netapps Technologies Limited, a fintech company that provides financial solutions to individuals, businesses, institutions, and government organisations, has just launched its suite of financial service products. The launch event which took place on Wednesday, the 21st of August at Abuja was graced by political dignitaries including Senator Anyim Pius Anyim, Godknows Igali, the Permanent Secretary of the Federal Ministry of Power, Livinus Makwe, member of the Federal House of Representatives, and other financial industry players and tech enthusiasts.
Opening the event with a speech was Richard Omoniyi, director at Netapps represented by James Ojodale. He thanked the attendees for supporting the company and extolled the work Netapps has done so far to improve the financial services industry. “Today’s event marks a significant milestone in our journey to redefine and elevate the payment landscape in Nigeria. At Netapps we’re committed to meeting the need for secure and efficient solutions by providing innovative payment services that will not only cater to the current demands of the market but also anticipate future needs of businesses and consumers alike. Our vision at Netapps goes beyond providing payment solutions. We aim to build a payment ecosystem that is inclusive, accessible, and reliable. With Netapps, you are not just adopting a payment solution but also partnering with a team committed to your success, growth, and security.” he said.
The Netapps journey
Founded by Edwin Okoro M. (CEO), Netapps started in 2015 as a software development company. The company specialised in IT Services including software development, website, mobile application, digital marketing, domain registration and hosting, and more.
After operating for years and successfully completing several local and international projects, the company set out to solve the financial inclusion problem in Nigeria. This foray into financial services was inspired by studying customer needs and behaviours regarding payments and witnessing the gaps in the African and global fintech markets. Netapps today has moved beyond just software development to becoming a payment infrastructure provider. The company was licensed by the Central Bank of Nigeria as a Payment Service Solution Provider (PSSP) in 2022 and is now a digital payment system (DPS) provider. The company is also licensed by the Nigerian Communications Commission (NCC) to provide Unstructured Supplementary Service Data (USSD) services to businesses and customers.
Netapps has set out to be a global leader in the mobile financial services ecosystem by providing efficient and reliable digital payment solutions. Since getting its PSSP licence the company has been testing and refining its products and services in order to launch as a fully reliable, user-friendly, and secure payment platform.
Netapps solutions
Netapps offers a range of payment products and services:
- Marketplace: Netapps marketplace is a one-stop-shop for all bill payments. Its services include wallet-to-wallet transfers, inter-bank transfers, airtime and data purchases, cable TV subscriptions, utility payments, fast finger gamification, betting, ticket and event bookings, loans, insurance, and other bill payment products.
- NetappsPay: This is a payment gateway that allows individuals and businesses to integrate APIs and receive funds through various gateways. The gateways include cards, mobile, bank transfer, USSD, QR codes, and more.
- SwiftPay: SwiftPay is an enterprise resource planning workflow system that enables businesses to distribute salaries, grants, giveaways, and other bulk transfers swiftly with a single click. This product empowers businesses to automate workflows and efficiently streamline their services.
- KYCInsights: This is an ID verification service that validates all KYC data. It addresses the challenges businesses face when verifying the identity of customers during onboarding.
- Debt Recovery: this is an API-based service for credit/loan companies looking to recover bad debt or mitigate the challenges of overdue loans. This API enables direct debit from the customer’s account(s) from any bank in Nigeria. This can be used for repayment, recurring loan payment, or bad credit repayment through the eMandate and Global Standing Instruction (GSI).
Netapps also provides other add-on digital services such as USSD, money switches, and pushpay notifications.
Companies who want to offer payment services can integrate with Netapps’ API and leverage the platform to offer those services.
A promising road ahead
“At Netapps, we are committed to staying ahead of the curve and setting new benchmarks in the industry. To remain competitive we need to be innovative ensuring that customer interest is put on the front burner of our products. We have factored in customer needs making sure our platform is accessible, convenient to use, and affordable,” said Netapps CEO Edwin Okoro at the launch event.
To improve performance and provide a reliable and secure payment infrastructure, Netapps has initiated strategic partnerships with local and international financial services providers. Some of these partners include; payment processors Mastercard, Visa, UnionPay, and American Express; payment terminal aggregators Universal Payments Inc and Nigeria Inter-Bank Settlement System (NIBSS); payment switching companies eTranzact, Remita, and Interswitch; payment service providers PAX, CoralPay, NetPOS, Paga, and iRecharge; banks including Zenith Bank, Keystone Bank, MoMoPSB, Wema Bank, and Providus Bank; and 13 insurance companies.
In the future, the fintech company is looking forward to launching its virtual and physical debit cards, tokenising cards for easier transactions, and incorporating artificial intelligence and machine learning into its marketplace. Netapps hopes to integrate with more partners and get regulatory approvals to usher in more compliant financial services. The company is also looking forward to expanding to other African countries and becoming the go-to financial solutions provider for all individuals and businesses.
Visit Netapps here today to access its secure and affordable financial services.
