Emmanuel Ojukwu
Nigerian fintech company Kuda has announced a strategic partnership with SeerBit, a payment gateway, to provide customers with a secure and convenient cardless payment option for online transactions, thereby reducing the risk of fraud.
According to a statement from Kuda, retail customers can now look for the ‘Pay With SeerBit’ option on local websites and apps, allowing them to pay directly from their Kuda account using a secure Kuda Pay ID. This ID is a one-time code generated within the Kuda app, eliminating the need to enter debit card details for online payments.
This new payment method aims to address the rising concern of online fraud in the digital payment space. The 2023 Annual Fraud Landscape report by the Nigerian Inter-Bank Settlement System revealed that N17.67 billion was lost to fraud in 2023, marking a 23 percent increase from 2022. By providing a safer payment alternative, Kuda and SeerBit seek to mitigate these risks and offer a more secure experience for their users.
Speaking about the partnership, the Managing Director of Kuda Microfinance Bank, Musty Mustapha, said,
“Our partnership with SeerBit underscores our commitment to providing secure and user-friendly financial services. With their Kuda Pay ID, our customers can make online payments without the fear of exposing their debit card details, ensuring peace of mind in every transaction.”
Through this partnership, Kuda is reinforcing its commitment to providing secure and innovative financial services that address the evolving needs of its customers.
