Xpress Payments says it will deploy AI and IoT to drive its next growth phase in Nigeria, targeting more personalised and seamless digital payments.
Xpress Payments says it will lean on AI and IoT for its next growth phase in Nigeria. The company shared the plan at a Lagos event marking its 10th anniversary.
Xpress Payments outlined a new technology roadmap focused on Artificial Intelligence and the Internet of Things.
AI is software that learns patterns from data, like a smarter autocomplete for decisions. Xpress Payments says it will use AI to understand customer needs, predict next steps, and reduce friction in everyday transactions.
IoT means connected devices that send data over the internet, like smart POS terminals or utility meters. The company says IoT can support more seamless payment experiences across physical and digital touchpoints.
The CEO, Wale Olayisade, said the business has moved from processing zero transactions at inception to handling transaction value in the trillions of naira. He pointed to common use cases like school fees, hospital bills, cable TV subscriptions, and utility payments as areas where digital payments have replaced physical visits.
Olayisade also highlighted the role of the Central Bank of Nigeria in shaping the sector. He said Xpress Payments currently operates under six regulatory licences covering switching and processing, payment solutions, payment terminal services, and agency banking.
For context, Nigeria’s payments market includes infrastructure providers like Interswitch, as well as payment gateways such as Paystack and Flutterwave.
Nigeria’s digital payments space is maturing, and many providers are now competing on reliability, speed, and customer experience, not just access.
If Xpress Payments executes well, AI-driven personalisation could improve approval rates, reduce failed transactions, and make bill payments and collections feel simpler for users and merchants. IoT-enabled payments could also help it expand in offline-heavy sectors, where POS uptime and device monitoring matter.
The bigger test will be compliance and trust. More AI often means more customer data handling, which increases pressure to meet regulatory and security expectations while scaling transaction volumes.
Primary Source: The Sun Nigeria
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