A new fintech company, QorePay, has launched in Nigeria with a target of deepening financial inclusion in the country by empowering small and medium enterprises (SMEs).

Besides its payment solutions that address the challenges facing small businesses, QorePay said its mission is to ensure that every small business in Nigeria transitions from the traditional system of payment to digital.

Speaking during the launch in Lagos, Co-Founder and Chief Executive Officer of QorePay, Joshua Owoyemi, said this would be achieved by providing simple and easy-to-use solutions for all business segments in the country.

According to him, the improved Internet penetration in Nigeria has provided a fertile ground for fintechs to grow and for every Nigerian to be financially included. He said the company has seen a lot of challenges in the payment space in Nigeria, which it seeks to address.

“Sometimes payment processing in Nigeria can be cumbersome, it can be time-consuming; sometimes it’s not affordable. QorePay is being launched to address these issues by providing a seamless, secure, simple, affordable payment solution for all.

“We also want to unlock the potential of the Nigerian markets. We see the growth of mobile phones and internet penetration, these provide a field for fintech to be able to explore the market and to create solutions for all Nigerians to be financially included,” Owoseni said.