Xpress Payment Pursues AI and IoT Expansion

At a public lecture in Lagos marking its 10th anniversary, Xpress Payment Solutions Limited announced plans to deepen investment in Artificial Intelligence (AI) and the Internet of Things (IoT) as its next growth phase. Multiple Nigerian outlets - BusinessDay, The Sun, Leadership, Guardian Nigeria, and Vanguard - covered the event. Managing director and CEO Wale Olayisade said AI would enable the firm to "better understand customers' needs and anticipate the next steps in their financial journeys, reducing friction and enhancing convenience," per BusinessDay and The Sun. Olayisade also stated the company had grown from zero transactions at inception to handling volumes valued in trillions of naira over the decade, per his remarks quoted by the outlets. Leadership additionally reported comments from executive director of Finance Temitope Ajanaku emphasising regulatory compliance and resilience through recent economic shocks.

Xpress Payment did not disclose specific AI products, technical architecture, or deployment timelines. The announcement is strategic intent - the firm framing AI and IoT as levers for more personalised, predictive, and seamless payments, which aligns with common fintech applications: fraud detection, risk scoring, customer segmentation, and connected point-of-sale devices. Compliance with Central Bank of Nigeria (CBN) guidance remains a stated priority, Ajanaku said.

Xpress Payment is a CBN-licensed fintech processor. Its 10-year transaction volume claim - "trillions of naira" - is unaudited but consistent with the scale of Nigeria's digital payments market, which has grown sharply alongside mobile money and instant payment infrastructure (NIBSS). The company operates alongside larger Nigerian processors and pan-African fintechs.