In a strategic move to further its mission to empower African traders with the necessary payment solutions in the digital era, Squad, a fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), has entered a partnership with OmniPay, a subsidiary of OmniRetail Inc.
The collaboration between Squad, which offers comprehensive payment and e-commerce solutions for businesses, and OmniPay has currently benefited more than 65,000 stakeholders, including retailers, distributors, and manufacturers through improved payment and collection methods using Squad’s Virtual Bank Account without incurring any charges. Additionally, they have gained more accessible and affordable working capital to procure goods on credit for their businesses, contributing to the daily transaction volume exceeding N3 billion, and this figure continues to grow.
Adeyemi Atanda, the Chief Marketing Officer of Squad stated, “At Squad, our mission revolves around providing African businesses with the right solutions for effortless payment processes, available at their convenience. We understand the pivotal role small businesses play in our economy. Through strategic alliances like this, we aim to empower even more merchants by granting them access to rapid, user-friendly, and dependable payment solutions that optimize their business operations and, in turn, boost their revenue.”
Deepankar Rustagi, CEO of OmniRetail stated, “As we join forces with Squad, we are driven by our shared vision of transforming the digital payment landscape for African businesses. With OmniPay, businesses will gain improved payment methods with zero transfer fees, while retailers and distributors will have easier access to OmniPay’s BNPL (Buy Now Pay Later) solution. This partnership aims to empower businesses, streamline payment processes, and enhance record-keeping accuracy through automated reconciliation for orders. This partnership reinforces OmniRetail’s commitment to innovation and financial inclusion.”
Squad is a complete payment solution that is reliable, secure, and affordable, making receiving in-person and online payments simple and convenient.
Its goal is to support SMEs, micro-merchants, large corporations, and other fintechs (Tech Stars) with the tools they need to thrive in an evolving digital economy and expand beyond their current market reach.
Squad’s current products and service offerings include SquadPOS, Squad Payment Links, Squad Virtual Accounts, USSD, and E-Commerce Storefront.
OmniPay, a subsidiary of OmniRetail Inc., is a company with a mission to simplify payments in Nigeria and provide working capital to trade businesses. OmniPay provides an API-based wallet built to simplify trade payments.
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