SeerBit is developing a unified payment ecosystem that streamlines and simplifies the digital payment process in Africa. The startup’s journey began in 2011 when founder Omoniyi Kolade established Centric Gateway, a pan-African fintech company serving enterprise clients such as UBA Bank, FMCB, Ecobank, and Keystone Bank.
While Centric Gateway enjoyed success, the surge in commerce activity across Africa and the increased demand for e-commerce platforms prompted Kolade to recognise the potential for a user-friendly payment solution. He saw the opportunity to create a straightforward plug-and-play model that benefits businesses in both online and offline spaces, catering to the evolving market dynamics.
As a leading pan-African payment solutions provider, SeerBit has introduced “Alpha,” a white-label product designed to facilitate growth for financial institutions, travel and hospitality firms, online marketplaces, and other enterprises. This innovation simplifies the process of launching custom digital financial technology solutions, thus accelerating the adoption of digital payments in Africa.
White-label products are created by a different company, not the one that sells or markets them. The main advantage of white-label branding is that it helps companies save time, effort, and money on production and marketing.
In the case of SeerBit, businesses can easily integrate SeerBit Alpha into their existing platform. This allows them to smoothly provide credit, run their own payment gateway for reliable payment collection, introduce digital banking services like account opening and fund transfers, and even handle international money transfers. This is especially useful for customers who have cross-border payment needs.
Additionally, businesses can use SeerBit Alpha to offer mobile phone credits and billing services. This means their customers can directly buy mobile phone credits through the business’s platform, giving them more services to choose from and creating new ways to generate income.
A recent study by McKinsey & Company focused on the future of payments in Africa has highlighted an interesting observation. Despite the growing use of smartphones and digital payment options across the continent, a mere 5 to 7 percent of all payment transactions are conducted through electronic and digital channels. This implies that the majority of transactions still occur offline, resulting in the inconvenience of traditional cash-based methods for a large portion of consumers.
Furthermore, this situation has led to an unfortunate consequence. Due to the lack of electronic transaction data, many consumers are unable to access credit and other financial services effectively. Financial institutions struggle to gain insights into spending patterns, making it challenging to offer tailored services to consumers.
In response to these challenges, the emergence of SeerBit Alpha as a payment solution is noteworthy. This initiative is actively driving discussions and offering pragmatic solutions to enhance payment methods and infrastructure. By addressing the existing inefficiencies in payment systems, SeerBit Alpha aims to tap into the considerable untapped potential within Africa’s payment landscape.
“Our goal is to build a unified payment ecosystem that simplifies the digital payment process in Africa, allowing businesses to seamlessly accept multiple payment methods and streamline online and offline transactions. By leveraging our cutting-edge technology, businesses can unlock new opportunities, drive growth, and establish themselves as leaders in the evolving fintech landscape.”
Mr. Omoniyi Kolade
SeerBit claims to have made significant strides in the payment gateway industry, serving ten African countries and offering adaptable solutions for businesses of all sizes and sectors. Renowned organisations like The British Council, United Bank for Africa, and WiX have integrated SeerBit’s services to enhance their payment processes.
