Woven Finance said it is expanding its footprint in Nigeria’s financial technology sector with a digital payment platform designed to simplify transactions and automate financial operations for businesses of all sizes.

Led by Frank Ugwulali, Head of Product and Partnerships, the company is targeting a long-standing challenge in Nigerian commerce—delayed settlements and complex payment reconciliations—through a backend infrastructure that enables real-time transaction tracking and reduces manual errors.

The platform integrates multiple payment options, including virtual accounts, QR codes, card payments, and secure payment links. These features are aimed at supporting a broad range of businesses, from small retailers to logistics firms, clinics, and schools.

“Our focus is on building the infrastructure that supports digital money movement for Nigerian businesses,” Ugwulali said. “While many platforms emphasize user experience, we are solving what happens after the payment is made.”

Woven Finance recently underwent a platform upgrade in 2024 to improve speed and functionality. A mobile app is also in development to serve both business-to-business (B2B) and business-to-consumer (B2C) users, allowing financial management on the go.

To ensure secure and efficient transaction processing, Woven has formed partnerships with financial institutions including Interswitch, Access Bank, Wema Bank, and Globus Bank. These alliances support its aim to create a stable and interoperable payment infrastructure.

The company is also advancing financial inclusion by offering virtual accounts and automated reconciliation tools to underserved small and medium enterprises (SMEs). These tools allow users to track payments, manage cash flow, and engage more fully in Nigeria’s digital economy.

Currently in use across several sectors, including education, healthcare, and logistics, the platform has been deployed to handle various payment types such as school fees, medical billing, and supplier settlements.

With plans to introduce features such as fraud detection, analytics, and sector-specific tools, Woven Finance aims to play a central role in Nigeria’s shift toward a digital-first business environment.