11 October 2026 6:26 pm WAT
A fintech entrepreneur, Success Ilevbareose, has said delayed transactions and payment verification problems can affect sales and customer relationships among small businesses in Nigeria.
Ilevbareose, who co-founded FalconPay with software engineer Abijah Johnnie, said his experience in commercial operations at Bills Construction and Enterprise and running his own business exposed him to some of the challenges businesses face when processing payments.
“Every delayed transaction isn’t just a technical glitch; it’s a lost sale or a damaged relationship for a small vendor,” he said.
The experience informed the development of FalconPay, a financial technology platform that began customer-facing operations in May 2025.
Johnnie, who has experience developing payment application programming interfaces (APIs), virtual card systems and USSD infrastructure for platforms including PayPaddi and Yaada, said payment systems must address the technical and operational demands of the Nigerian market.
“Building for Nigeria’s market requires infrastructure that prioritises speed while ensuring security and regulatory compliance,” he said.
The platform provides digital payment services for individuals and businesses, including money transfers, bill payments, virtual accounts and payment infrastructure for collections and disbursements.
Its business services include APIs that companies can integrate into their systems to process transactions. The company also provides virtual accounts and over-the-counter banking solutions for businesses.
Abdulrasheed Muhsin, the company’s chief product designer, is involved in developing its user interface and simplifying how customers interact with its services.
The founders’ initiative comes amid the growing use of digital payment systems by Nigerian individuals and businesses, many of whom rely on electronic transactions for daily commercial activities.
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