News from the Wire

Emergent Payments enters Nigeria

Friday, December 09, 2016 — 12:16:28 (EST)

Palo Alto, Calif., Dec. 9, 2016 -- Emergent Payments, today announced its launch into Nigeria, unveiling a leading local payments solution for the growing African market.

The move paves the way for digital merchants around the world to broaden their business into the rapidly expanding region.

"We have established a presence on the ground, allowing our merchants to reach new and highly-coveted consumers," said Emergent Payments' Chief Payment Officer Rossini Zumwalt.

"Our solution offers a comprehensive set of local methods, as well as the ability for our merchants to accept transactions in the local currency."

WHY NIGERIA?

• KEY GATEWAY FOR EXPANSION INTO AFRICAN MARKET

• LARGEST COUNTRY IN AFRICA WITH A POPULATION OF OVER 173 MILLION (47% OF WEST AFRICA'S POPULATION)

• ECONOMY HAS QUICKLY GROWN INTO ONE OF THE WORLD'S LARGEST

• PUSHING TOWARDS BECOMING A CASH-LIGHT ECONOMY – BETWEEN 2010 AND 2014 MOBILE MONEY INCREASED BY 4,934%

The dramatic rise of mobile money in Nigeria has seen the country move into the global spotlight, showing significant potential and development of its payment landscape.

With more than 51% of the country now online, it presents a huge opportunity for digital merchants to capture the attention of this ever-growing audience.

Emergent Payments is offering merchants a completely local solution with a set of value-added services to simplify payments.

These include support for the preferred payment channels – Verve bank card and Quickteller for instant P2P transfers to all Nigerian banks – as well as full tax compliance, remittance in major currencies and an extensive understanding of regulatory requirements.

"We know the Nigerian market, we understand its complexities and we are able to help our merchants reach the consumer in a way that the consumer feels like they are purchasing from a local company using their preferred payment methods," said Ms. Zumwalt.

About Emergent Payments Emergent Payments is a value added payments provider whose flagship product Pay+ delivers over 300 payment methods in a single, scalable platform. The company specializes in high-growth, complex markets like India, LATAM, China, South East Asia, and MENA. Emergent Payments adds value by managing all aspects of payments including tax, fraud, chargebacks and FX.

For more information, please visit www.emergentpayments.net .

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Source: Company press release.