New payment platform launches to pay in dollar, pound, euro, others

• Nigerians can now use a range of currencies to conduct business and make payments
• This is as Ercas, a fintech platform announced it is launching a new payment platform
• ErcasPay helps Nigerian business owners overcome challenges related to making international payments

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

Nigerians may now transact business and make payments using a variety of currencies thanks to the launch of a new payment platform by the fintech company Ercas.

ErcasPay helps Nigerian business owners overcome the challenges posed by international payments. Photo Credit: Contributor
Source: Getty Images

The company announced the launch of ErcasPay, a new digital payment system designed to close the payment gap for companies of all sizes.

Speaking at the unveiling, Ibukun Eko-Salaudeen, managing director of ERCAS, stated that the multi-currency payment system has removed long-standing obstacles preventing local companies from taking advantage of the thriving global market.

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Ibukun stated in a The Nation report that Naira, US Dollar, British Pounds Sterling, Euro, Canadian Dollar, Gambian Dalasi, Ghanaian Cedi, and Kenyan Shilling could all be paid for via ErcasPay.

He claims that ErcasPay removes obstacles associated with foreign payments for Nigerian business owners. Furthermore, there are no longer any lost sales or laborious domiciliary account opening procedures.

“Whether you’re a budding Instagram vendor or a corporate entity, ErcasPay empowers you to effortlessly accept payments in eight global currencies: Naira, US Dollar, British Pound, Euro, Canadian Dollar, Gambian Dalasi, Ghanaian Cedi, and Kenyan Shilling. “ErcasPay is more than just a payment solution; it’s a gateway to global prosperity for Nigerian businesses through a simple sign-up process. “By offering easy and seamless multi-currency transactions, we empower entrepreneurs to compete globally and make their businesses world-class.”

Electronic transfers up

Legit.ng reported that a recent finding on electronic transfer levy has shown that microtransactions drive Nigeria's e-payment boom, underscoring the growing use of digital channels in daily life.

BusinessDay reported that the failed attempt at a cashless policy by then CBN governor Godwin Emefiele brought attention to these microtransactions.

Several people switched to digital channels when physical naira became scarce by January 2023.

Source: Legit.ng