Guaranty Trust Holding (GTCO) Plc fintech subsidiary, HabariPay, has just launched Squad, a digital payments platform to provide customers with the tools to do business digitally.
According to the company, “At Squad, we provide business owners with the tools they need to thrive in a digital economy while also promoting their business and introducing them to a market beyond their current reach. We have built a reliable, secure, and affordable payment platform that will make receiving in-person and online payments simpler.”
Squad’s products and services include the following:
- Payment Gateway: Customers can start accepting payments in 15 minutes with Squad’s easy and seamless integration. They can choose their preferred payment method and increase your conversion rate.
- Payment Links: Create a dynamic payment experience and start accepting payments easily, quickly and securely
- SquadPOS: Turn your mobile device into a card machine and start accepting card payments anytime, anywhere and on-the-go.
- E-Commerce: Set your on-line store with no coding or design skills and sell your products or services to your customers wherever they are
- Virtual accounts: Create a virtual business to accept payments
GTCo in the same breadth announced that it has received final approval from the Central Bank of Nigeria (CBN) for its wholly-owned payment subsidiary, HabariPay Limited.
Commenting on the new subsidiary, Mr. Segun Agbaje, Group Chief Executive Officer of GTCO Plc said: “Payments are central to the development of financial services globally and represent a key growth area for the Group.
“GTCO Plc has been at the forefront of delivering cutting-edge innovative solutions with its banking franchise and would leverage this capacity to transform the evolving payment space. with HabariPay, we have successfully created more value for our stakeholders.“
He stated further that, “Our vision is an Africa where every payment is digital, and we hope to achieve this by increasingly leveraging technology to improve access to financial devices for individuals and empower businesses across Africa with the right digital tools to thrive”
Guaranty Trust Bank plc, initially launched Habari, a platform for music, shopping, lifestyle content and more in 2018
Squad will be competing with the likes of Interswitch, Paystack, Flutterwave in the same arena. Though it has recruited top executives to run the Squad business, they will have to contend with the fact that it is seen as an bank-led company and this might adversely affect it in the marketplace.
