Electronic Payplus

What Electronic Payplus does

Electronic PayPlus Limited is a Nigerian card manufacturing and personalization company headquartered in Lagos (KM 34, Lekki-Epe Expressway, Lakowe, Ibeju Lekki). Incorporated in 2004 and operational since 2005, the company originally deployed POS terminals before pivoting in 2009 to smart card production. It operates the first and only purpose-built card personalization bureau in Nigeria, with installed capacity of 12 million cards per annum and an estimated ~50% share of in-country EMV cards produced. The company is certified by MasterCard, VISA, and Verve.

The company produces and personalizes EMV payment cards, metal cards targeted at high-net-worth bank customers, the award-winning All About Me (AAM) picture cards, transportation cards, health cards, government identity cards, access and loyalty cards, and biometric enrollment credentials. Its production stack integrates equipment and materials from Thales, HP, KURZ, MATICA, OASYS, JINGUAN, and SCREEN CHEEK, supporting chip embedding, secure personalization, and finished card delivery. Service offerings include chip embedding, card personalization, and end-to-end identity credentialing.

The business model is B2B and project-based: pricing is quote-driven rather than list, sold directly to commercial banks (debit, credit, prepaid), government agencies (national ID, parastatals), insurance providers, educational institutions, and pharmacy chains across Nigeria. The company is privately held with no external funding rounds disclosed and references serving markets beyond Nigeria.

Name

Electronic Payplus

Legal name

Electronic PayPlus Limited

Website

https://epayplusng.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Electronic PayPlus is a Lagos-based card manufacturer and personalization bureau producing EMV payment cards, metal cards, picture cards, and government/identity credentials for Nigerian banks, government agencies, and enterprise clients, with 12 million cards per annum installed capacity.

Ownership category

akta.pro rank

Product category

Smart Card Production and Personalization Services

NAICS

Credit Card Issuing (522210)

akta.pro primary industry

Card Issuing & Program Management Platforms (BPAMAFAH)

akta.pro secondary industry

Card Issuing Platforms (Issuer Processing) (FSAGABAD)

Keywords

• Smart card production
• EMV payment cards
• Card personalization services
• Chip embedding solutions
• Payment card fulfillment

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Technology or R&D, Operations

Revenue model

1. EMV Payment Card Production and Supply: Production and supply of EMV certified payment cards including contact, contactless, and dual interface cards to banks and financial institutions. This is a core revenue stream with high volume production capacity.
2. Card Personalization Services: Indentation printing, embossing, and fulfillment services for payment cards, identity cards, access cards, and loyalty cards
3. Chip Embedding Services: High-volume chip embedding services using state-of-the-art equipment
4. Premium Metal Cards: High-end metal cards for High Net-worth Individuals (HNI) with manual personalization and laser engraving - premium pricing for exclusive market segment
5. Picture Card Design Platform: Customized card design application allowing cardholders to create personal cards with photographs - creates customer loyalty and higher card usage rates

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Electronic Payplus produces and personalizes EMV-certified payment cards (contact, contactless, dual interface) for banks and financial institutions, with an installed capacity of 12 million cards per annum at Nigeria's first purpose-built personalization bureau. The company also delivers premium Metal Cards for high net-worth individuals, the proprietary All About Me (AAM) Picture Cards platform, chip embedding services, card personalization and fulfillment, government identity cards, transportation cards, and access/loyalty cards to banking, government, insurance, pharmaceutical, education, and commercial sectors.

Product overview

Electronic Payplus is a smart card and payment solution provider operating since 2005, with the first purpose-built personalization bureau in Nigeria at an installed capacity of 12 million cards per annum. The company's product portfolio centers on EMV Payment Cards as its core product, supplemented by premium Metal Cards for high-net-worth individuals and the award-winning All About Me (AAM) Picture Cards feature. Supporting offerings include Transportation Cards, Health Cards, Government Identity Cards, Access and Loyalty Cards, plus Chip Embedding and Card Personalization Services. The company serves banking, commercial, government, pharmacy, education, insurance, and travel sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• EMV Payment Cards EMV-compliant payment cards available in contact, contactless, and dual interface formats, produced for the banking and financial industry with biometric enrollment, project management, card fulfillment, and fraud solution services.
• Metal Cards High-end metal cards made from silver nickel, manually personalized with laser engraving and mechanical engraving for prestigious High Net-worth Individuals (HNI), featuring engraved EMV chip pocket, bank logo, and MasterCard/VISA branding.
• All About Me (AAM) Picture Cards Award-winning customized card design application allowing cardholders to create personal cards online using memorable photographs or pre-selected gallery images, seamlessly integrated with bank branding.
• Government Identity Cards National identity cards, resident cards for state governments, and official government-issued identification documents, with biometric enrollment capabilities.
• Transportation Cards Automated fare collection solutions for rail, cable car, and buses, enabling contactless and prepaid payment functionality for transportation operators.
• Health Cards Commercial payment cards designed for the pharmaceutical and healthcare industry for use in pharmacy and health-related transactions.
• Access and Loyalty Cards Co-branded identity cards for organizations, access control cards, and customer loyalty cards produced for commercial enterprises.
• Chip Embedding Services State-of-the-art chip embedding services using advanced machines capable of processing large volumes of cards efficiently for financial institutions and other card issuers.
• Card Personalization and Fulfillment Services Individually customized card issuance including indent printing, embossing, fulfillment, and mail delivery services for banking, commercial, and government clients.

Quantifiable outcome

• Dominates nearly 50% of all EMV cards produced in Nigeria
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Five partnerships are on record, tiered core.

• ThalescoreTechnology or IntegrationThales is listed as a technical partner providing technology components or integration for Electronic Payplus's card production operations.
• HPcoreTechnology or IntegrationHP is listed as a technical partner, likely providing hardware infrastructure for card production and personalization.
• KURZcoreTechnology or IntegrationKURZ is listed as a technical partner, likely providing card materials or security features.
• MATICAcoreTechnology or IntegrationMATICA is listed as a technical partner, providing card personalization equipment and solutions.
• OASYScoreTechnology or IntegrationOASYS is listed as a technical partner for card production technology.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• HID Global: Produces secure identity and payment cards including EMV and contactless credentials, with personalization bureau capabilities. Comparable in card production technology and the institutional/government customer base Electronic Payplus serves.
• Giesecke+Devrient: German-headquartered provider of payment cards, smart cards, and secure identity solutions. Direct comparable in EMV card manufacturing, personalization bureau services, and government ID programs.
• IDEMIA: Global leader in payment cards, EMV chip cards, and identity solutions. Directly comparable to Electronic Payplus's core EMV card production and personalization business, with overlapping certification footprint across Visa, MasterCard, and domestic schemes.
• ABnote (American Banknote Corporation): U.S.-based financial card manufacturer and personalization provider serving banks, government, and commercial clients. Directly comparable in EMV card production, metal/premium cards, and high-volume personalization bureau services.
• Perfect Plastic Printing: U.S.-based card manufacturer producing EMV, metal, and specialty payment cards with personalization services. Directly comparable in high-end metal card production and EMV personalization capability.

Regional players

• Valid: Brazil-headquartered provider of payment cards, SIM cards, and identity solutions. Comparable business model in card manufacturing and personalization, but with a Latin American rather than African footprint.
• Eastcom: Chinese smart card and payment card manufacturer with EMV, contactless, and personalization capabilities. Comparable product portfolio, but operates primarily in Asian markets rather than Africa.

Broad incumbents

• Thales (Gemalto): Major card manufacturer, identity, and digital security player; also listed as a technology partner to Electronic Payplus. Comparable in EMV payment card production and personalization, but operates as a much larger incumbent across many adjacent verticals.

Emerging players

• MK Group: Smart card and personalization solutions provider active in emerging markets including Africa. Comparable in EMV and government ID card production, with overlapping focus on underpenetrated regional markets.

Others

• NXP Semiconductors: Supplier of the secure microcontroller chips embedded in EMV payment cards. Not a direct competitor but the upstream technology provider whose chips power Electronic Payplus's card production; relevant for supply chain and technology roadmap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/epayplusng

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Electronic Payplus