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In Nigeria’s fast-evolving fintech space—one of the most competitive on the continent—Seyi Ebenezer, founder and CEO of Payaza, is carving out a distinctive path. With a background shaped by years in traditional banking under the mentorship of the late Herbert Wigwe, Ebenezer has brought both discipline and innovation into the digital payments world.
After senior roles at Keystone Bank and Access Bank, where he facilitated over $450 million in capital and debt transactions, Ebenezer ventured into fintech in 2021 to launch Payaza, a Lagos-based online payment gateway designed to simplify cross-border transactions.
The startup’s early days were rough. “It was very tough in the beginning—we struggled,” Ebenezer admits. “We had to invest heavily in technology before we could even start selling. But within one year and nine months, we broke even.”
Today, Payaza employs over 210 staff and operates in 21 countries, including the UAE, Canada, the UK, and the US. Its mission: to make payments work seamlessly across markets by adapting to local realities—whether through cards, bank transfers, mobile money, or open banking.
Ebenezer emphasizes strong governance and long-term thinking. “We’re one of the few African fintechs audited by a Big Four firm. We’re not chasing speed—we’re building something that lasts,” he said.
He sees Africa’s payments future being shaped by open banking, e-commerce growth, and mobile money, particularly in Francophone regions. But for Nigeria, he notes that trust remains the biggest challenge. “People still fear digital transactions, but that’s changing as innovation deepens,” he added.
Looking ahead, Payaza plans to bridge African businesses across borders, enabling easier trade and partnerships. The company also aims to expand beyond payments by offering working capital solutions for SMEs—using payment data to unlock financing opportunities.
“For us,” Ebenezer concludes, “growth isn’t just about transaction volume—it’s about connection, empowerment, and building the digital bridges that Africa’s future depends on.”
