Firm says only 20% enjoying cashless system, launches new solutions, Payedin

A fintech firm, PayedIn Technology, has launched a simple and secure electronic payment solution in Nigeria.
The firm said in a statement on Wednesday that the introduction of the new solution was to improve on the existing system in which only the top 20 per cent of organisations, businesses and entrepreneurs were enjoying cashless payments.
It stated, “In support of digitalisation of the economy, all organisations, businesses, and entrepreneurs should have access to a secure and easy-to-use electronic payment solution.
“The current crop of payment solutions available in the country are complex and often require complicated hardware, payment intermediaries or complex systems integration. What this means is that only the top 20 per cent of organisations, businesses and entrepreneurs with the requisite skills, capabilities and resources are enjoying cashless payments.”
Co-founder and Chief Executive Officer of PayedIn, Debo Shopade, said, “We have developed a payment platform that is easy-to-use and secure without the need for hardware, intermediaries or systems integration. To get started, recipients only need to go through a simple sign-up process.”
Also commenting on the new solution, Co-founder and CTO of Payedin, Aditya Padhi, was quoted as saying, “PayedIn is secure by design with state-of-the-art security features including email and phone number verification, two-factor authentication and biometric security to keep transactions secure.”
The new payment solutions are said to be available for all major sectors of the economy such as utility, services, transportation, education, e-commerce, charity, and religious sectors.
It gives features for payment recipients as payment links for remote payments, integrated transaction reporting dashboard, scan to pay, crowdfunding and instant payment notifications.
For those making payments, the features are given as scan (QR code) to pay, pay by link, location triggered payments, recurring payments, push notifications, transaction receipts and transaction reports.
PayedIn, according to the statement, is available on all platforms including web, iOS and Android mobile apps stores.