London — The African online and mobile payment processing space is becoming extremely crowded. The winners will be those that can deliver high volumes of transactions. So whatever the problems of the Nigerian economy has now, it would be sensible to be looking for long-term winners in that market. Russell Southwood spoke to one of the runners, Michael Simeon, Co-Founder and CEO, VoguePay.
VoguePay is a payment processing company that can send and collect money from Africa: 95% of its business is B2C and 5% B2B. It has over 100,000 registered users and 50,000 active users. 80% of them are in Nigeria but the rest are international customers in places like the USA, China and the Philippines:"Our business is trying to tap into Africa and Nigeria predominantly (at the moment)".
...