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Nigerian fintech startup Vepay is expanding its services beyond virtual dollar cards as it positions itself in Africa’s fast-changing digital payments sector.
“We started with virtual cards to help people make seamless international payments,” said Oluwagbenga Agunbiade, Vepay’s Founder and Chief Executive Officer. “But Africa’s payment needs go far beyond that. This next step is about helping users handle everything – from sending money to family to paying everyday bills – all in one place.”
Vepay began operations earlier this year with a goal to make international payments easier for Africans. Its virtual card gained quick adoption among users seeking a reliable way to pay for global subscriptions, online tools, and services.
Vepay has now entered a new growth phase. Its latest rollout includes cross-border money transfers, bill and airtime payments, cable TV subscriptions, and a local POS model for merchants and small businesses across Nigeria.
With the expansion, Vepay is evolving from a single-product platform into a comprehensive financial service provider. The company’s aim is to link Africa’s fragmented payment systems and give users more control and flexibility in how they manage their money.
The local POS model is a major part of this plan, targeting Nigeria’s informal economy, where small businesses remain a major driver of daily trade. By introducing a system that supports merchants directly, Vepay hopes to simplify how payments are accepted and processed at the grassroots level.
Vepay’s strategy centres on usability over complexity, reflecting how people transact across different channels. The company’s platform brings multiple financial functions into one environment, allowing users to pay, send, and receive funds without switching between apps.
As Vepay prepares to expand into new regions and strengthen partnerships, its founder says the company remains guided by a single idea – building a payment system that works for everyone, not just the digital elite.
