SeerBit has launched SeerBit Alpha, an Embedded Finance solution that enables businesses to expand their operations with their own branded payment solutions. With SeerBit Alpha, the company seeks to democratise fintech adoption by giving African business owners the opportunity to incorporate fintech solutions into their operations and provide more value to their customers.

Serving as a comprehensive Embedded Finance suite, SeerBit Alpha focuses on providing a diverse range of payment solutions, allowing businesses to digitise their payment processes with a tested technological infrastructure, which can also be customised according to their distinct needs and preferences. SeerBit Alpha caters to a wide spectrum of businesses across various industries, such as travel, hospitality, financial institutions, and online marketplaces. By leveraging SeerBit’s solution, businesses can craft fully branded digital banking services, international remittance platforms, airtime disbursement platforms, and virtual account infrastructure. Moreover, this can allow them to generate new revenue streams while delivering a smooth branded digital experience to their customer base. Despite the increase in smartphone usage and digital payment solutions in Africa, only a mere 5-7% of all current payment transactions are made through electronic or digital channels.

This could be an indication of an untapped potential due to existing inefficiencies within the payment infrastructure. Therefore, SeerBit aims to help these companies by providing practical solutions to these challenges. More about SeerBit A Pan-African payment solutions provider, SeerBit aims to enable businesses to collect and manage online and offline payments through a technology adaptable to any industry, store, or shopper journey.

The company's mission is to build a unified payment ecosystem that simplifies digital payments across Africa, enabling businesses to accept multiple payment methods smoothly. SeerBit currently operates in ten African countries and seeks to drive the adoption of digital payments all over the continent. Some organisations that have integrated SeerBit's services include The British Council, United Bank for Africa, as well as WiX.

The future of payments in Africa Cash is still a major player in Africa; however, McKinsey research suggests that the continent’s domestic electronic payments market is expected to see revenues grow by approximately 20% each year, reaching to about USD 40 billion by 2025. This shows that electronic payments are a major growth opportunity in Africa, especially as the convenience and scalability of payment methods continue to improve and the supporting infrastructure develops. Various countries in Africa have seen growth in e-payments during the pandemic.

However, based on the research, it is likely to be an uneven growth as it will depend on infrastructure readiness and regulation, amid other factors, in every market. .