Xpress Payment Solutions Limited has revealed plans to deepen the deployment of Artificial Intelligence (AI) and the Internet of Things (IoT) as it charts the next phase of growth, having processed transactions worth trillions of naira over the past decade.

The Managing Director and Chief Executive Officer of Xpress Payment Solutions, Wale Olayisade, disclosed this during a public lecture held in Lagos to commemorate the company’s 10th anniversary.

Speaking on the theme, “A Decade of Innovation, A Future of Possibilities,” Olayisade said the company’s growth mirrors the rapid evolution of Nigeria’s digital payments ecosystem and the increasing adoption of technology-driven financial services.

He noted that the fintech firm has played a key role in advancing financial inclusion by extending access to financial services to underserved communities while supporting Nigeria’s cashless economy drive.

According to him, the company has grown from processing no transactions at inception to handling transaction volumes valued in trillions of naira.

“From processing zero transactions at inception, we have grown to process trillions of naira in transaction value. Whether it is paying school fees, settling hospital bills, renewing cable television subscriptions or paying utility bills, we have simplified processes that once required physical visits and long waiting times,” he said.

Olayisade explained that future investments in AI and IoT technologies would make digital payments more seamless, personalised and predictive.

“AI will enable us to better understand customers’ needs and anticipate the next steps in their financial journeys, reducing friction and enhancing convenience. The future is filled with possibilities,” he stated.

He reaffirmed the company’s commitment to innovation and the development of next-generation payment solutions, noting that digital transformation has significantly improved how Nigerians access financial services.

“Over the last decade, innovation has fundamentally transformed the payments landscape in Nigeria. A few years ago, paying utility bills or accessing financial services often required physically visiting the service provider or relying on a relationship with a bank manager. Today, people can conveniently carry out these transactions from the comfort of their homes,” he said.

The CEO also praised the regulatory role of the Central Bank of Nigeria (CBN), saying its policies have helped create a stable and secure financial ecosystem.

While acknowledging that some industry players occasionally view regulations as restrictive, he maintained that such measures are necessary to protect consumers and sustain confidence in the financial system.

Olayisade further disclosed that Xpress Payment Solutions now operates across multiple segments of the fintech value chain through six regulatory licences covering switching and processing, payment solutions, payment terminal services and agency banking.

Also speaking, the Executive Director, Finance, Temitope Ajanaku, described the anniversary as a major milestone that reflects the company’s resilience despite economic headwinds, including the COVID-19 pandemic and foreign exchange volatility.

“I feel extremely happy and elated. It is gratifying to see that all the hard work we have put in over the years is paying off. Most importantly, I am proud that we have remained resilient and sustained our operations over the past decade,” she said.

Ajanaku attributed the company’s sustained growth and credibility to its strong compliance culture, noting that Xpress Payment Solutions has consistently adhered to guidelines issued by the CBN and other regulators.
“We have always ensured that we comply with every guideline and regulation issued by the CBN and other relevant authorities. We take pride in our strong compliance culture because it has helped us maintain our reputation and credibility in the industry,” she said.

She added that customer feedback has remained central to the company’s product development strategy, stressing that the organisation remains focused on innovation, customer satisfaction and continuous improvement.
“We are not just focused on products; we are focused on people. Our goal is to provide solutions that are easy, fast and secure while ensuring that they positively impact the lives of our customers,” she said.

Founder of Xpress Payment Solutions and Chairman of Xpress Holdings Limited, Awa Ibraheem, described the company’s 10-year journey as a significant achievement, given the challenges of operating in Nigeria’s business environment.
He said resilience, adaptability and constructive engagement with regulators have been critical to the company’s success.

“This is Nigeria; we report to many regulatory agencies, but the chief of them all is the CBN. We have never had any problem with them. We have been coping very well,” he said.
Ibraheem identified the COVID-19 pandemic as one of the company’s earliest and most significant challenges, noting that recovery required time and strategic adjustments.

“The first major challenge we encountered was the COVID-19 pandemic. We had just started operations when it hit, and it took us time to recover fully from its impact,” he said.
Despite economic and regulatory challenges, he said the company has remained focused on strengthening its operations and sustaining growth, adding that its decade-long journey demonstrates its ability to navigate uncertainties while maintaining stability in Nigeria’s competitive fintech industry.