BudPay launches BudPay Business for payment solutions

At a recent press launch, BudPay, a payment infrastructure company, presented its business payment solution. to facilitate African businesses’ participation in global markets. The company used the opportunity to highlight its core features and competitive standing in the Nigerian fintech landscape.

BudPay products are intended for businesses in Africa that want to receive and make payments locally and globally. In light of this, BudPay claimed it has secured licences and strategic partnerships with local and international providers to allow African businesses to scale globally.

BudPay‘s payment infrastructure is specifically designed to meet the evolving demands of the African market. The company reports that it has played a critical role in enabling corporations, SMEs, and startups to accept payments across more than 100 countries.

The platform’s key features are crafted to support businesses aiming to expand beyond their local confines.

Key features of BudPay Business

1. Invoicing and Payment Links
It offers invoicing and payment link features, which allow businesses to generate and share digital invoices and secure URLs for customer payments. This eliminates the need for a dedicated e-commerce website, making it easier to manage transactions.

2. Payment Gateway/Checkout Modal
The platform provides a versatile payment gateway and checkout modal that supports various payment methods, including cards, bank transfers, USSD, and mobile money. This variety ensures that businesses can cater to a diverse customer base with different payment preferences.

3. Team Collaboration
Its team collaboration features enable businesses to add team members and delegate payment operations seamlessly. This functionality enhances efficiency and ensures that payment processes are managed effectively.

Regulatory compliance and security

BudPay emphasises regulatory compliance and security and says the company is licensed by the Central Bank of Nigeria and certified by various national and global financial, payment security, and data regulatory bodies.

This, it says, helps the platform earn the trust of its customers who value reliability and security.

Competition in the Nigerian Market?

BudPay operates in a competitive landscape alongside other notable fintech companies:

1. Flutterwave

Flutterwave offers payment links, invoicing, and extensive integration options. It is often chosen for its robust API integrations, which appeal to developers and businesses looking for flexible payment solutions.

2. Paystack

Paystack provides secure payment processing, automated invoicing, and detailed financial reports. Known for its ease of use and strong customer support, Paystack competes closely with BudPay by focusing on user-friendly solutions and reliable service.

So how is this different? 

In a press release, BudPay says it has garnered the trust of over 20,000 businesses across three markets. 

CEO Wale Hassan commented on the company’s progress, stating, “We are humbled and at the same time proud to have earned the trust of over 20,000 businesses across 3 markets in the last 2 years. While the payment industry is already quite robust, we identified a distinctive opportunity to redefine the global payments landscape for African businesses. 

“The astounding feedback from our merchants on the business impact of integrating BudPay into their payment systems has been very validating. Despite these milestones, we remain relentless. Our mission is to power global trade and drive economic growth beyond borders.”

The positive feedback from merchants regarding the business impact of integrating BudPay into their payment systems has been validating for the company. Despite these achievements, BudPay says it remains committed to its mission of powering global trade and driving economic growth beyond borders.

BudPay is a participant in the country’s competitive financial technology landscape, no doubt. The company offers payment processing solutions to businesses, aiming to connect them with both local and international opportunities.

And, emphasises a focus on regulatory compliance, security, and innovative payment solutions. Whether these claims translate into a significant competitive advantage for BudPay remains to be seen.