Nigerian small businesses grappling with cash flow issues may have found a solution with OnePipe’s latest offering, PaywithAccount. The fintech infrastructure provider has launched a direct-from-account payment system designed to eliminate delays and streamline collections for businesses.
This new solution allows businesses to receive payments directly from customer bank accounts without relying on cards or manual reminders. By automating the process, PaywithAccount reduces the stress of late payments and gives business owners greater control over their finances.
For many entrepreneurs in Nigeria, cash flow remains one of the biggest challenges. Schools struggle with tuition payments, logistics firms face delays in driver remittances, and cooperatives battle with unpredictable member contributions. A PwC study highlights the issue, revealing that 48% of Nigerian Micro, Small, and Medium Enterprises (MSMEs) have experienced delayed payments, with 33% reporting significant disruptions. Traditional collection methods, often manual and inefficient, drain valuable time and resources that could be better spent growing the business.
Speaking at the launch event in Lagos, OnePipe’s Founder, Ope Adeoye, emphasised the company’s mission to support Nigerian businesses. “Small businesses are the backbone of our economy, yet many struggle simply because getting paid on time is difficult. PaywithAccount removes that obstacle, allowing them to focus on innovation and customer service,” he said.
The launch event featured key industry players, including Ngover Ihyembe-Nwankwo, Executive Director at Nigeria Inter-Bank Settlement Systems PLC (NIBSS), Faith Ojeiku, Head of Embedded Finance at Credit Direct Limited, and Adedeji Olowe, Founder of Lendsqr.
Ihyembe-Nwankwo commended OnePipe’s innovation, stating, “PaywithAccount is a great example of how industry players can leverage financial infrastructure to improve Nigeria’s digital payment ecosystem.” She reiterated NIBSS’s commitment to enabling fintech solutions that promote interoperability and cost-efficiency.
Olowe echoed similar sentiments, highlighting how reliable repayments are crucial for lenders. “Payment delays create major hurdles for lenders. At Lendsqr, we’ve helped many lenders transition from card payments to PaywithAccount, ensuring loan repayments stay on track,” he said.
With PaywithAccount, OnePipe is setting the stage for a smoother, more predictable financial future for Nigerian businesses, reducing their reliance on outdated collection methods and giving them the freedom to focus on growth.
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