Parkway Projects
Parkway Projects is a CBN-licensed Nigerian payment infrastructure provider operating the ReadyCash agency banking network, Parkway Wallet consumer app, and Central Billing System, serving individuals, agents, fintechs, and government MDAs across Nigeria.
- Company typePrivate
- Founded2004
- HeadquartersLagos, Nigeria
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What Parkway Projects does
Parkway Projects Limited, founded in 2004 and headquartered in Yaba, Lagos, is a Central Bank of Nigeria-licensed Payment Solution Service Provider and Mobile Money Operator. The company operates a unified payments infrastructure spanning three core products: ReadyCash, an agency banking and bill-payment platform that recruits and equips agents to deliver cash-in/cash-out, BVN registration, airtime/data top-ups, electricity, pay-TV, and WAEC/JAMB payments via mobile app, POS, and USSD; Parkway Wallet, a consumer mobile application offering free transfers to any Nigerian bank, physical and virtual debit cards across Mastercard, VISA, and Verve, and bill payments; and the Central Billing System, an enterprise billing and settlement infrastructure used for state revenue and federal MDA collections, e-invoicing, and multi-institution settlement.
The underlying platform is BVN-integrated for KYC (with Tier 1, Tier 2, and Tier 3 daily limits of ₦50,000, ₦200,000, and ₦5,000,000 respectively) and is certified to PCI DSS, ISO 27001, ISO 22301, and ISO 20000, with deposits NDIC-insured. Distribution spans a self-serve digital channel (mobile and web apps plus USSD), a physical ReadyCash agent network across Nigeria, and direct enterprise sales to government MDAs and fintech partners. White-label infrastructure (e.g., the Little partnership for child-focused e-wallets and cards) extends the platform beyond the Parkway consumer brand.
Revenue is generated through transaction fees on money transfers and bill payments, agency banking commissions (shared between Parkway and ReadyCash agents), card issuance and usage fees (Mastercard, VISA, Verve), and subscription-style wallet service fees. Customer segments are diversified across individual consumers, the ReadyCash agent network, fintechs and businesses building on Parkway infrastructure, government MDAs and state revenue bodies, and merchants. The company has no disclosed external funding rounds, is privately held, and operates exclusively within Nigeria despite positioning itself for broader African expansion.
Parkway Projects firmographics
Firmographics- Name
- Parkway Projects
- Legal name
- Parkway Projects Limited
- Website
- https://parkwayprojects.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Parkway Projects is a CBN-licensed Nigerian payment infrastructure provider operating the ReadyCash agency banking network, Parkway Wallet consumer app, and Central Billing System, serving individuals, agents, fintechs, and government MDAs across Nigeria.
- Ownership category
- akta.pro rank
Parkway Projects industry classification
Industry- Product category
- Digital Payments Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Depository Credit Intermediation (5221)
- SIC
- Finance Services (6199), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)
- akta.pro secondary industries
- Utility & Municipal Billing Platforms (FSAMAJAG), Payment Gateways & Orchestration (BPAMAFAA), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)
Keywords
Where Parkway Projects is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
Parkway Projects business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Transaction Fees: Agents and customers pay transaction fees for money transfers, bill payments, and other financial transactions processed through the Parkway platform.
- Agency Banking Commission: ReadyCash agents earn commission by providing value-added services such as electricity bill payment, airtime and data recharge, WAEC and JAMB registration, pay-TV subscriptions, and other utility bills. Parkway earns a share of transaction revenue.
- Card Services: Revenue from issuing physical and virtual debit cards (Mastercard, VISA, Verve) for Parkway Wallet users.
- E-Wallet Services: Fees associated with digital wallet services including send money, receive money, and linked bank account transactions. Tiered KYC levels (Tier 1, Tier 2, Tier 3) with varying daily limits drive adoption and transaction volume.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Tier 1 Customer - Basic KYC with BVN, passport photograph, phone number and full name |
| Transaction based/ take rate | Pay-as-you-go | Tier 2 Customer - Enhanced KYC with verified ID |
| Transaction based/ take rate | Pay-as-you-go | Tier 3 Customer - Full bank-level KYC with linked bank account |
| Transaction based/ take rate | Pay-as-you-go | ReadyCash Agent - Agency Banking Commission Model |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
Parkway Projects product offering
Product offeringCore offering
Parkway Projects operates a CBN-licensed payment infrastructure platform offering three core products: ReadyCash (agency banking network enabling cash-in/cash-out, BVN registration, and bill payments through agents and POS devices), Parkway Wallet (consumer-facing mobile wallet with free bank-to-bank transfers and Mastercard/VISA/Verve debit card issuance), and Central Billing System (enterprise e-invoicing and multi-institution settlement for government revenue collections). The platform combines USSD, mobile app, web, and POS channels to extend financial services across Nigeria.
Product overview
Parkway Projects operates as a Central Bank of Nigeria licensed Payment Solution Service Provider and Mobile Money Operator, offering a unified payment infrastructure platform comprising three core products: ReadyCash (agency banking network and bill payment services), Parkway Wallet (consumer-facing mobile wallet with card issuance), and Central Billing System (enterprise e-invoicing and settlement platform). The portfolio is complemented by POS devices, USSD channels, and mobile/web applications that enable financial inclusion through agent distribution networks across Nigeria.
Differentiator
Problem solved
Functional benefit
Brands
- Parkway Wallet: A mobile application providing access to bank accounts, free transfers, debit cards, and bill payments.
- ReadyCash
- Central Billing System
Products and services
- ReadyCash Agency Banking Agency banking platform enabling agents to offer account opening, BVN registration, cash-in/cash-out, hospital collections, airtime/data recharge, pay-TV, WAEC and JAMB payments, and other value-added services via mobile app, POS devices, and USSD channels across Nigeria.
- Parkway Wallet Consumer mobile application providing a digital wallet with free transfers to any Nigerian bank, money receive capabilities, and physical or virtual debit cards (Mastercard, VISA, Verve) for personal and business payments and bill settlements.
- Central Billing System Secure billing infrastructure for generating and processing payments for State revenue and Federal MDAs collections, providing automated e-invoicing and seamless multi-institution settlement using preconfigured rules.
- Bill Payment Services Value-added service available across Parkway Wallet and ReadyCash channels for paying electricity bills, airtime and data recharge, pay-TV subscriptions, WAEC and JAMB registration, and other recurring expenses through a single reliable application.
- Payment Collection Infrastructure
- Fintech White-Label Infrastructure API-based e-wallet, payment processing, and card issuance infrastructure licensed to fintech companies seeking to embed digital wallet and payment capabilities into their own products under their own brand.
Companies that use Parkway Projects
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles4 records
Parkway Projects technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Parkway Projects partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- LittlecoreLittle partnered with Parkway to provide e-wallet infrastructure and debit card issuance services for Little's fintech innovation targeting parents and school children in Nigeria. Parkway provides the underlying e-wallet technology, card services, and settlement infrastructure that powers Little's digital wallet and debit card offering for students.
Scale indicators4 records
Recent moves7 records
Expansion highlights3 records
Parkway Projects competitors and assessment
Company assessmentBroad incumbents
- Interswitch: Interswitch is Nigeria's largest payments infrastructure provider operating Verve card scheme, payment gateway, and switching services. As a broad incumbent, it competes with Parkway's Central Billing System and infrastructure layer at enterprise scale.
- Flutterwave: Flutterwave is a pan-African payment gateway serving businesses with collection and disbursement APIs. Its payment infrastructure overlaps Parkway's Central Billing System and payment collection capabilities at larger enterprise scale.
- Paystack: Paystack is a Nigerian payment gateway (now Stripe-owned) serving online businesses with collections and billing APIs. Its billing and invoicing infrastructure overlaps with Parkway's Central Billing System and payment collection products.
Emerging players
- FairMoney: FairMoney is a Nigerian digital lender and payments app serving mass-market consumers. While its core is lending, its wallet and bill payment features overlap with Parkway's consumer services and represent an emerging competitor in the same customer segment.
Direct peers
- Moniepoint: Moniepoint (formerly TeamApt) is one of Nigeria's largest agent banking and POS platforms serving SMEs and individuals. Its agent distribution model and bill-payment offering are directly comparable to Parkway's ReadyCash.
- Paga: Paga is a CBN-licensed mobile money operator and payments platform in Nigeria offering agent banking, bill payments, and merchant collections. Comparable in regulatory standing and product breadth to Parkway.
- Kuda Bank: Kuda is a Nigerian digital-only bank licensed by the CBN offering free transfers, cards, and bill payments through a mobile app — directly comparable to Parkway Wallet's consumer-facing wallet and card product.
- PalmPay: PalmPay is a Nigerian mobile wallet and payment platform targeting unbanked and underbanked users with bill payments, transfers, and merchant services — directly overlapping Parkway Wallet's consumer proposition and ReadyCash's bill-pay offering.
- OPay: OPay is a Nigerian mobile money and agent banking operator offering wallet, transfers, bill payments, and card services. It competes head-to-head with Parkway's ReadyCash agent network and Parkway Wallet consumer proposition across Nigeria.
- Carbon (formerly Paylater): Carbon is a Nigerian digital financial services platform offering payments, cards, and lending via mobile app. Its consumer wallet and card-issuance model parallels Parkway Wallet's proposition for underbanked Nigerians.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Parkway Projects social profiles
Digital presenceParkway Projects compliance and trust
Trust signalCompliance5 records
Parkway Projects financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parkway Projects leadership team
Management profileNumber of profiles
Profiles9 records
Parkway Projects funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parkway Projects M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parkway Projects
What does Parkway Projects do?
Parkway Projects operates a CBN-licensed payment infrastructure platform offering three core products: ReadyCash (agency banking network enabling cash-in/cash-out, BVN registration, and bill payments through agents and POS devices), Parkway Wallet (consumer-facing mobile wallet with free bank-to-bank transfers and Mastercard/VISA/Verve debit card issuance), and Central Billing System (enterprise e-invoicing and multi-institution settlement for government revenue collections). The platform combines USSD, mobile app, web, and POS channels to extend financial services across Nigeria.
Is Parkway Projects a public or private company?
Parkway Projects is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Parkway Projects founded?
Parkway Projects was founded in 2004. It employs 1 to 10 people.
Where is Parkway Projects based?
Parkway Projects is headquartered in Lagos, Nigeria, in the Africa region.
How does Parkway Projects make money?
Four revenue lines are on record. Transaction Fees are the primary driver. The others are agency Banking Commission, card Services and E-Wallet Services.
Who are Parkway Projects's main competitors?
Broad incumbents on record are Interswitch, Flutterwave and Paystack. FairMoney is listed as an emerging player. Direct peers are Moniepoint, Paga, Kuda Bank, PalmPay, OPay and Carbon (formerly Paylater).
Does Parkway Projects have an API?
No public API is recorded for Parkway Projects.
What industry is Parkway Projects in?
Parkway Projects's product category is Digital Payments Infrastructure. Its primary akta.pro industry code is BPAMAFAF, Bill Pay, Invoicing & Payables Platforms, with a secondary code of FSAMAJAG, Utility & Municipal Billing Platforms. Its NAICS code is 522320 and its SIC code is 6199.