Xpress Payment Solutions Limited is preparing to deepen its investment in artificial intelligence and the Internet of Things as it looks toward the next stage of growth in Nigeria’s fast-evolving digital payments sector.
The fintech company revealed the plan after marking 10 years of operations, during which it said it processed transactions worth trillions of naira. The announcement signals a stronger push into smart, predictive and more personalised payment services as Nigerian consumers and businesses continue to shift toward digital financial solutions.
A Decade of Digital Payments Growth
Speaking during a public lecture in Lagos to celebrate the company’s 10th anniversary, Managing Director and Chief Executive Officer Wale Olayisade said Xpress Payment’s journey reflects the wider transformation of Nigeria’s payments ecosystem.
According to Olayisade, the company moved from processing no transactions at inception to handling transaction volumes valued in trillions of naira. He said the company has helped simplify everyday financial activities such as school fee payments, hospital bill settlements, cable television renewals and utility payments.
These services, he noted, have reduced the need for physical visits and long waiting times, making financial transactions more accessible and convenient for users.
AI to Make Payments More Personalised and Predictive
Xpress Payment’s planned AI expansion is expected to improve how the company understands customer needs and delivers financial services.
Olayisade said artificial intelligence would help the company anticipate the next steps in customers’ financial journeys, reduce friction and improve convenience. This could support more personalised payment experiences, faster service delivery and smarter financial tools for individuals and businesses.
The company also plans to explore IoT-driven solutions as part of its broader innovation strategy. In the fintech space, IoT can support connected payment devices, smarter transaction points and more seamless digital interactions across different service channels.
Supporting Financial Inclusion in Nigeria
Xpress Payment said its growth has been closely tied to its role in expanding access to financial services, especially in underserved communities.
As Nigeria continues to promote cashless transactions and digital financial inclusion, fintech companies are playing a key role in bridging service gaps. Xpress Payment said it remains committed to providing solutions that are easy, fast and secure while improving the daily lives of customers.
The company currently operates across several areas of the fintech value chain, supported by six regulatory licences covering switching and processing, payment solutions, payment terminal services and agency banking.
Regulation and Compliance Remain Central
Olayisade also acknowledged the role of the Central Bank of Nigeria in shaping a stable and secure digital payments environment. He said while some players may view regulation as restrictive, strong oversight remains important for protecting consumers and maintaining trust in the financial system.
Executive Director of Finance, Temitope Ajanaku, also emphasized the company’s compliance culture. She said Xpress Payment has consistently followed guidelines issued by the CBN and other regulators, helping the company maintain credibility in Nigeria’s competitive fintech market.
Resilience Through Economic Challenges
The company’s leadership also reflected on the challenges faced over the past decade, including the COVID-19 pandemic and foreign exchange volatility.
Founder of Xpress Payment Solutions and Chairman of Xpress Holdings Limited, Awa Ibraheem, described the 10-year milestone as a major achievement, especially given Nigeria’s complex business environment. He said resilience, adaptability and constructive engagement with regulators have helped the company sustain operations and growth.
What This Means for Nigeria’s Fintech Sector
Xpress Payment’s AI and IoT expansion highlights a broader shift in Nigeria’s fintech industry. Payment companies are no longer focused only on transaction processing. They are increasingly investing in intelligent, connected and customer-focused technologies that can make financial services faster, safer and more predictive.
As digital payments continue to grow across Nigeria, the next phase of competition may be shaped by how well fintech companies use AI, data and connected infrastructure to improve user experience and financial inclusion.
For Xpress Payment, its next decade appears focused on building smarter payment solutions while strengthening its role in Nigeria’s digital economy.