Kuda has announced a partnership with SeerBit, a payment gateway, to provide secure, quick, and easy online cardless payment options for its over 7 million customers.
“Our partnership with SeerBit underscores our commitment to providing secure and user-friendly financial services. With their Kuda Pay ID, our customers can make online payments without the fear of exposing their debit card details, ensuring peace of mind in every transaction,” stated Musty Mustapha, Managing Director of Kuda Microfinance Bank.
Through this partnership, Nigerian fintech’s retail customers can now use the ‘Pay With SeerBit’ option on local websites and apps. This feature allows direct payments from their Kuda account using a secure Kuda Pay ID, a one-time code generated on the Kuda app.
Mustapha highlighted that authorizing online payments with the Kuda Pay ID through SeerBit ensures that customers’ financial information remains protected, significantly reducing the risk of fraud and unauthorized transactions. “This quick and safe payment option eliminates the need to enter debit card details for online payments,” he added.
SeerBit is recognized as a leading payment infrastructure provider, offering comprehensive solutions that enable businesses to thrive in the digital economy. “Through this partnership, Kuda is reinforcing its commitment to providing secure and innovative financial services that address the evolving needs of its customers,” Mustapha stated further.
According to the 2023 Annual Fraud Landscape report by the Nigerian Inter-Bank Settlement System (NIBSS), N17.67 billion was lost to fraud in 2023, marking a 23 percent increase compared to the previous year. This statistic highlights the significant concern of online fraud in the digital payment landscape.
