Nigerian payment company CapiFlex launches its payment platform in Kenya

KENYA – CapiFlex, a Nigerian payment technology company and a subsidiary of CapitalSage Technology Limited has launched its instant payment platform called CapiCollect in Kenya.

The product was launched in partnership with Arronax Systems, a financial technology company based in Kenya.

The CapiCollect payment comes with an escrow feature that allows businesses to receive payment securely but also allows them to build customer trust. Once the escrow is activated, payments are held in trust and are only released once the customer receives goods or services based on the agreed terms.

Speaking on the launch, Manager CapiFlex Payments, Ibukun Eko said this expansion is in line with the company’s goal to provide a flexible payments solution that eliminates wait time, loss of funds, and fraud for vendors and businesses across Africa.

“Our goal is to empower businesses in Africa with flexible payment options. In less than a year, we have on boarded over 1,000 merchants who are receiving payments securely via our platforms,” Ibukun said

“The escrow agreement we introduced with our product in Kenya allows us to hold payments in trust until customers receive the goods and services they have affirmed and desired.

“By acting as a third party, escrow will improve the relationship between businesses and their customers by eliminating the infamous issue of “what I ordered vs. what I got” and the associated dissatisfaction.”

At a time when businesses are seeking access to technological tools, Ibukun highlights that it is important for them to stand out, particularly since they aim to be a leader in wealth creation in Africa. “We see tremendous growth in the technology space in Kenya and are honoured to leverage it,” Ibukun added.

“We started out to build a system that supports businesses of any size or scale and now we want to do more for them. We want to help them build trust and credibility,” The Head of Product, CapiCollect, Olaronke Adegbite, said.

“You earn your customers’ trust when they know that you protect their interests, and that is exactly what we want to help them achieve. Businesses thrive on trust, and we are excited to be doing something with regard to that.”

“Additionally, we are a people’s company. At the heart of all we do, we put people first. What’s a better way to serve people in ways that truly count if not through expansion?”

Since launched CapiFlex has processed over 20 billion volume of transaction for over 10,000 merchants and businesses in Nigeria.

CapitalSage Technology, a fin-tech start-up has launched CapiFlex, an integrated payment and business solution that meets the needs of all businesses regardless of size and scale in May 2021, to meet the increasing demand for seamless digital payments by individuals and businesses.

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