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SeerBit unveils Alpha to simplify FinTech solutions in Africa

By Delisha Fernandes

August 09, 2023

  • account opening
  • Alpha
  • cash-based transactions
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SeerBitSeerbit, a Pan-African payment solutions provider, has unveiled Alpha, a white-label product that makes it easier for financial institutions and other businesses to drive growth and expedite the penetration of digital payments in Africa.

Despite the growing trend of digital commerce in the continent, only 5 to 7 % of all payment transactions are made via electronic and digital channels. Most transactions are still offline, meaning most consumers are burdened with the inefficiencies of cash-based transactions.

This also means a significant amount of untapped value as consumers cannot effectively access credit and other financial services because their cash-based transactions do not give financial institutions enough insight into their spending behaviours to provide the services they deserve.

Omoniyi Kolade, CEO and Founder of Seerbit, said, “Our mission at SeerBit is to make it as easy as possible for businesses to leverage digital payments to drive growth, and SeerBit Alpha is one of the products that helps us to achieve this. We are taking away the complexity of having to build your own solutions and allowing businesses to take advantage of our tried and tested innovation.”

At the same time, across multiple industries, there are already countless businesses that regularly interface with consumers across the continent and have visibility into these spending behaviours but either have limited access to digital payment solutions or do not have the capacity to build what they need for themselves. Most end up transacting with cash because it is what they are used to, or they settle for off-the-shelf digital payment solutions that only offer generic services.

Businesses need to plug SeerBit Alpha into their existing platform. They will be enabled to seamlessly offer credit, operate their payment gateway to facilitate reliable collection of payments from customers, launch digital banking services such as account opening, fund transfers and other banking services, as well as international money transfers, catering to the needs of customers that offer cross-border payment needs.

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