Nigerian Fintech Nomba Cuts Global Payment Fees for Merchants

Getting paid shouldn't cost a fortune, but for African businesses selling globally, payment processing fees have long eaten into their profits at rates up to 7%. Nomba, a Nigerian fintech company, just changed that equation.

The company started in 2016 as a simple chatbot helping people pay bills and send money. Founders Yinka Adewale and Pelumi Aboluwarin quickly realized businesses needed better tools, so they pivoted to building payment infrastructure for merchants across Africa.

Today, Nomba serves hundreds of thousands of merchants and processes billions of dollars annually. The company provides payment terminals, business accounts, payroll services, and financial software that lets businesses manage everything in one place.

Their latest breakthrough tackles a massive problem. African businesses accepting international payments typically lose 6% to 7% in card processing fees every single transaction. Nomba partnered with UK financial services company Volume to let Nigerian merchants receive payments directly into their bank accounts, bypassing expensive card networks entirely.

The impact shows up fast. Nigerian beauty brand BeautyByDaz received over £5,000 from UK customers within just two months of using the new system. That money went directly to the business instead of disappearing in fees.

The timing makes sense. Over 270,000 Nigerians live in the United Kingdom, and trade between the countries hit £95.7 million in December 2025 alone. More African businesses are selling products and services internationally, but outdated financial systems haven't kept pace with their ambitions.

The Ripple Effect

Nomba isn't stopping with Nigeria. The company recently expanded into the Democratic Republic of Congo, Africa's fourth most populous country, starting with remittance services before adding more financial tools. They also acquired a licensed Canadian payment provider to build payment rails connecting African markets directly to North America.

"The goal is simple: if you're an African business selling globally, getting paid should feel no different from a local transaction," Adewale explains. His team is building that future using open banking technology, stablecoins, and other modern infrastructure that puts African merchants on equal footing with businesses anywhere else.

Nomba's transformation from chatbot to continental payment infrastructure shows what happens when entrepreneurs listen to real business needs and build solutions that actually work.