Kuda has partnered with SeerBit, a payment gateway, to give Kuda’s 7 million plus customers a safe and easy option for making cardless payments online.
The Nigerian fintech’s retail customers can now look out for the ‘Pay With SeerBit’ option on local websites and apps, then pay directly from their Kuda account with their secure Kuda Pay ID - a one-time code generated on their Kuda app.
The quick and safe payment option removes the need for typing in debit card details when making online payments.
Online fraud remains a significant concern in the digital payment landscape. According to the 2023 Annual Fraud Landscape report by the Nigerian Inter-Bank Settlement System (NIBSS), N17.67bn was lost to fraud in 2023 which was a 23% increase compared to the amount lost in 2022. Kuda’s partnership with SeerBit is a proactive step towards mitigating these risks.
By authorising online payments with their Kuda Pay ID through SeerBit, Kuda customers can be confident that their financial information is protected, thereby reducing the likelihood of fraud and unauthorised transactions.
Regarding the partnership, Musty Mustapha, Managing Director of Kuda Microfinance Bank, said, "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 fearing exposing their debit card details, ensuring peace of mind in every transaction."
With over 7 million customers, Kuda Microfinance Bank is the Nigerian subsidiary of Kuda Technologies, a fintech company on a mission to make financial services accessible, affordable and rewarding for all Africans.
SeerBit is a leading payment infrastructure provider, offering comprehensive payment 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.
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