In a bid to revolutionize the way Nigerian businesses conduct transactions, Ercas, a fintech platform, has introduced a new payment platform called ErcasPay. This innovative system allows Nigerian business owners to make payments and conduct business using a variety of currencies, including the Naira, US Dollar, British Pounds Sterling, Euro, Canadian Dollar, Gambian Dalasi, Ghanaian Cedi, and Kenyan Shilling. This move is set to significantly impact the way local companies interact with the global market, as it eliminates long-standing obstacles that have hindered their ability to thrive on an international scale.
Ibukun Eko-Salaudeen, the managing director of ERCAS, emphasized the importance of ErcasPay in bridging the payment gap for businesses of all sizes. He highlighted the fact that this multi-currency payment system removes barriers associated with foreign payments, such as lost sales and cumbersome domiciliary account opening procedures. With ErcasPay, Nigerian entrepreneurs, whether small-scale vendors or large corporations, can now seamlessly accept payments in multiple global currencies, paving the way for them to compete on a global level and elevate their businesses to world-class standards.
The introduction of ErcasPay comes at a time when electronic transfers in Nigeria are on the rise. Recent findings on electronic transfer levy have revealed that microtransactions are driving the country’s e-payment boom, signaling a shift towards digital channels in everyday transactions. This trend was further highlighted by the increased adoption of digital channels when physical cash became scarce in early 2023, following a failed attempt at a cashless policy by the Central Bank of Nigeria.
With ErcasPay offering a simple sign-up process and seamless multi-currency transactions, Nigerian businesses now have a gateway to global prosperity at their fingertips. This payment solution not only facilitates international transactions but also empowers entrepreneurs to expand their reach and compete on a global scale. By embracing ErcasPay, Nigerian businesses can position themselves as key players in the global market, driving growth and success in an increasingly interconnected world.
In conclusion, the launch of ErcasPay by Ercas represents a significant milestone in the evolution of Nigeria’s fintech landscape. By enabling businesses to transact in multiple currencies and facilitating seamless international payments, ErcasPay is poised to revolutionize the way Nigerian businesses operate and interact with the global economy. As electronic transfers continue to gain momentum in the country, ErcasPay offers a timely and innovative solution that empowers Nigerian entrepreneurs to thrive in an increasingly digital and interconnected world.