Fintech Firm Launches Online Payment, e-Commerce Platform

Fintech Firm Launches Online Payment, e-Commerce Platform

Sunday Okobi

A Nigerian Fintech startup, Shago Payments Limited has finally launched its bill payment and e-commerce platform, Shago, into the Nigerian financial sector to serve the banked, unbanked as well as the underserved in the country and internationally.

The Chief Executive Officer of the tech firm, Sabastine Enechi, during the launch which took place in Lagos recently, noted that Shago promotes e-commerce and online bill payment in an all-in-one solution, adding that that’s what the launching is all about.

He said in the future, the firm shall collaborate with more fintech companies and banks to help in driving financial inclusion services in the Nigerian economy.

According to him, “Today event is to launch out into the market fully our app Shago and prove our concept in the market too, which has been in operation for one year now, and once it is proven and the end users give their feedbacks, we will look at them and improve on the areas noted.

“Everything is in place. We have a seamless application, as well as seamless integration with different banks and service providers. We are also in collaboration with other e-commerce merchants.”

On how Shago would roll out its unique online bill payment and electronic commerce programme, Enechi said the road map is in three segments-the bill payment, e-commerce and financial inclusion.

“So today, we have rolled out the bill payment, which is up and running to carry out the payment of different bills, including electricity, pay TV subscription, airtime vending among others.

“Subsequently, we be launching the e-commerce fully, and on this platform, our vendors, merchants and our customers can expose their product to our consumers. So anyone that has our app (Shago) would have access to these products on the platform. In 2021, with our collaboration with the banks, we will try to work with the Central Bank of Nigeria (CBN) to get financial inclusion services to the underserved and the unbanked in Nigeria. Today, the app is an all-inclusive project. We are taking it as a milestone, and once we prove our concept, we build on it.

“Shago payment system is a platform built to support the underserved, unbanked, and merchants in order to create a valued hub for the exposure of their goods and services as well as allowing them to earn commission on bill payment transactions,” he told journalists.

While adding that the Fintech firm now provides the channel for various business transactions for its clients, mostly for those in the rural areas, he said Shago has a great future, with focus on other areas like Artificial Intelligence (AI), e-health, agric-tech, robotics, e-commerce among others.

The CEO of Shago said presently, Shago has over 3,000 clients on its platform in one year, and is also focused on having 10,000 clients more, and 200 e-businesses in the nearest future.

Enechi said: “Shago in Hausa language means kiosk or shop front where people go to buy, sell, and make payments for services. So we are launching this easy-to-use app to create a better awareness for the brand and also to educate the populace about our values and solutions.

“The fintech firm began operations on January 1, 2020. This is one year in operation, and we have had so many positive feedbacks, reviews and updates, therefore it is time to launch it to the public.”

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