CyberPay
CyberPay is a Nigeria-based, CBN-licensed fintech operating a multi-channel payment processing platform (Cards, Bank Accounts, USSD, eWallet, QR Code) with a Developer API, serving SMB and enterprise merchants through gateways, POS terminals, USSD and pension remittance products.
- Company typePrivate
- Founded2018
- HeadquartersLagos, Nigeria
- Headcount251–500
- GTM typeB2B and B2C
- OfferingSoftware
What CyberPay does
CyberPay is a Nigeria-based fintech operating as CyberPay Limited, founded in 2018 and headquartered in Victoria Island, Lagos with a regional office in Abuja. The company runs a multi-channel payment processing platform that accepts Cards, Bank Accounts, USSD, eWallet, and QR Code transactions through a single Developer API. Its core product is a PCI-DSS compliant online payment gateway supporting MasterCard Secure, Verified by Visa and Verve Safetoken, complemented by a Tokenization system that replaces card numbers with random character strings to reduce exposure of sensitive payment data. CyberPay is licensed by the Central Bank of Nigeria as both a Payment Solution Service Provider (PSSP) and a Payment Terminal Service Provider (PTSP), and is certified to ISO 27001:2022 (ISMS) and ISO 22301:2019 (BCMS) standards.
Beyond the core gateway, CyberPay operates a broad vertical product portfolio: POS terminal deployment with nine NIBSS-certified terminal manufacturers, USSD collection (*5988#) for feature-phone payments, a Payment Link product for merchants without websites, a marketplace sub-brand, PenRemit pension remittance automation, Micro Pension enrollment, Disbursement Solutions for payroll and supplier payouts, Direct Debit/Loan Repayment, and Bulk SMS. Distribution is hybrid — API integration for eCommerce merchants, direct field deployment for POS, self-serve onboarding at merchant.cyberpay.ng, and a consumer-facing mobile app on Google Play and Apple Store. Target customers span SMBs and large enterprises horizontally, plus Pension Fund Administrators, employers, and merchant acquirer banks in secondary segments.
Monetization is multi-stream: per-transaction take rates borne by merchants in line with CBN regulation, POS terminal hardware sales and customization services, API-based integration fees, marketplace commission, and usage-based Bulk SMS. No public pricing tiers, specific transaction rates, funding rounds, revenue figures, or named enterprise customer logos are disclosed. An upcoming CyberPay Virtual Card represents the company's planned move into consumer card issuance.
CyberPay firmographics
Firmographics- Name
- CyberPay
- Legal name
- CyberPay Limited
- Website
- https://cyberpay.net.ng
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- CyberPay is a Nigeria-based, CBN-licensed fintech operating a multi-channel payment processing platform (Cards, Bank Accounts, USSD, eWallet, QR Code) with a Developer API, serving SMB and enterprise merchants through gateways, POS terminals, USSD and pension remittance products.
- Ownership category
- akta.pro rank
CyberPay industry classification
Industry- Product category
- Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Payment Processing & Acquiring Infrastructure (FSAGABAC)
- akta.pro secondary industries
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Tokenization, Network Vaults & Credential Management (FSAGABAF)
Keywords
Where CyberPay is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices3 records
Markets served
CyberPay business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Payment Processing Fees: Transaction fees charged to merchants for processing payments. Charges are borne by merchants in line with CBN regulation and international best practice.
- POS Terminal Sales and Provisioning: Sale, provisioning, deployment, management, and support of POS terminal solutions for retail merchants. Partners with leading terminal manufacturers including HorizonPay, PAX, NewLand, Tianyu, SZZT, Urovo, Trendit, Positivo Android and Linux Terminals certified by NIBSS.
- API Integration Services: Developer API services for eCommerce platform integration with simple API-based integration for merchants
- Bulk SMS: Bulk SMS marketing service for businesses to connect with target audiences in real time
- Marketplace Commission: CyberPay Marketplace aggregates shopping needs in one online location with transaction-based revenue from merchants
- Software Customization: Customized software applications for payment terminals tailored to unique business payment needs
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | CyberPay Consolidated Scheme (Registered Business) |
| Transaction based/ take rate | Pay-as-you-go | CyberPay Beginner Scheme (Unregistered Business) |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
CyberPay product offering
Product offeringCore offering
CyberPay is a CBN-licensed Nigerian fintech that provides a multi-channel digital payment platform enabling merchants to accept and process payments via Cards, Bank Accounts, USSD, eWallet, and QR Code through a unified Developer API. It complements this gateway with POS terminal deployment and customization, USSD-based collection, payment links for small businesses, a consumer-facing mobile app for bill payments and transfers, an online marketplace, pension remittance automation (PenRemit), disbursement APIs, loan repayment direct debit, and bulk SMS services.
Product overview
CyberPay is a CBN-licensed Nigerian fintech payment platform offering a comprehensive suite of payment solutions. The core offering consists of the CyberPay Online Payment Processing gateway (web and mobile) and POS Services for in-store transactions, supplemented by USSD Collection for feature phone users. The product portfolio extends to Payment Link and CyberPay Marketplace for online sales, PenRemit and Micro Pension for pension management, Disbursement Solutions and Loan Repayment (Direct Debit) for business payment automation, and Bulk SMS for communications. All products are accessible through a unified Developer API enabling single-integration access to multiple payment channels including Cards, Bank Accounts, USSD, eWallet, and QR Code. The ecosystem is complemented by a dedicated mobile application.
Differentiator
Problem solved
Functional benefit
Brands
- PenRemit: Cutting-edge web-based remittance schedule management platform for pension contributions, uploading schedules to Pension Fund Administrators and ensuring prompt payments to Pension Fund Custodians.
- CyberPay Marketplace
Products and services
- CyberPay Online (Web and Mobile) Payment Processing Comprehensive online payment gateway enabling businesses to accept payments globally via bank cards, bank accounts, USSD, QR Code, and eWallet through a single integration with PCI-DSS compliance and MasterCard Secure/Verified by Visa/Verve Safetoken support.
- POS Services Point of Sale terminal solutions providing businesses with in-store card acceptance capabilities, including terminal procurement from certified manufacturers (HorizonPay, PAX, NewLand, Tianyu, SZZT, Urovo, Trendit, Positivo), software customization, and consultancy services.
- CyberPay Mobile App
Quantifiable outcome
- Hourly settlement cycle available (upon fulfilling terms of service)
Companies that use CyberPay
Customer profileSegments4 records
Ideal customer profiles5 records
CyberPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
CyberPay partnerships and signals
Strategic signalScale indicators2 records
Recent moves6 records
Expansion highlights6 records
CyberPay competitors and assessment
Company assessmentDirect peers
- Remita: Nigerian payment gateway and bill-collection platform from SystemSpecs offering merchant APIs, payroll, and bulk disbursements. Direct overlap with CyberPay on disbursement, gateway, and SMB merchant onboarding.
- Flutterwave: Pan-African payment processor headquartered in Nigeria offering merchant payment APIs, POS, and disbursement solutions. Directly competes with CyberPay's online payment gateway and payout services across the same Nigerian SMB and enterprise merchant base.
- Moniepoint: Nigerian merchant-acquiring and POS-led fintech serving SMEs with payment acceptance, banking, and working capital. Closely comparable on POS terminal distribution, multi-channel acceptance, and Nigerian SMB focus.
- Paystack: Nigerian payment gateway (Stripe-owned) offering online checkout, APIs, and disbursements to Nigerian merchants. Closely comparable product set to CyberPay Online and serves the same primary SMB and developer customer segments.
- Paga: Nigerian mobile money and payment platform offering consumer wallets, merchant payments, and USSD collection. Comparable to CyberPay on USSD-based collection, mobile app consumer payments, and merchant acquiring.
Emerging players
- Korapay: African payment API and disbursement infrastructure provider offering collections, payouts, and virtual accounts. Comparable to CyberPay on API-first developer positioning and payout/disbursement product surface.
- OPay: Nigeria-focused fintech super-app offering payments, POS, lending, and ride-hailing. Overlaps with CyberPay on POS distribution, mobile wallet, and QR-code payments for consumers and merchants.
- Squad (by Flutterwave): Nigerian POS and business-management fintech for SMEs, including card acceptance and inventory tools. Directly comparable to CyberPay's POS Services and SMB merchant onboarding motion.
Broad incumbents
- Interswitch: Established Nigerian payments incumbent operating Quickteller, Verve card scheme, and a wide payment-infrastructure portfolio. Competes broadly with CyberPay on merchant acquiring, gateway, and POS while serving a much larger enterprise and bank customer base.
- Stripe: Global payment infrastructure leader whose acquisition of Paystack signals direct competition in Nigeria. Broad overlap with CyberPay Online on merchant gateway, API design, and developer-first positioning.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
CyberPay social profiles
Digital presenceCyberPay compliance and trust
Trust signalCompliance5 records
CyberPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
CyberPay leadership team
Management profileNumber of profiles
CyberPay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CyberPay 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 CyberPay
What does CyberPay do?
CyberPay is a CBN-licensed Nigerian fintech that provides a multi-channel digital payment platform enabling merchants to accept and process payments via Cards, Bank Accounts, USSD, eWallet, and QR Code through a unified Developer API. It complements this gateway with POS terminal deployment and customization, USSD-based collection, payment links for small businesses, a consumer-facing mobile app for bill payments and transfers, an online marketplace, pension remittance automation (PenRemit), disbursement APIs, loan repayment direct debit, and bulk SMS services.
Is CyberPay a public or private company?
CyberPay is a private company. It is classified as unknown and is currently operating.
When was CyberPay founded?
CyberPay was founded in 2018. It employs 251 to 500 people.
Where is CyberPay based?
CyberPay is headquartered in Lagos, Nigeria, in the Africa region.
How does CyberPay make money?
Six revenue lines are on record. Payment Processing Fees are the primary driver. The others are POS Terminal Sales and Provisioning, API Integration Services, bulk SMS, marketplace Commission and software Customization.
Who are CyberPay's main competitors?
Direct peers on record are Remita, Flutterwave, Moniepoint, Paystack and Paga. Emerging players are Korapay, OPay and Squad (by Flutterwave). Broad incumbents are Interswitch and Stripe.
Does CyberPay have an API?
Yes. CyberPay offers a Developer API enabling merchants to integrate payment processing capabilities. The API supports payment processing, settlement, error handling, and merchant onboarding. Developers can integrate to process payments via Cards, Bank Accounts, USSD, eWallet, and QR Code through one integration. Transaction charges are borne by merchants per CBN regulation. Developer documentation is at www.cyberpay.net.ng/developer.
What industry is CyberPay in?
CyberPay's product category is Payment Processing. Its primary akta.pro industry code is FSAGABAC, Payment Processing & Acquiring Infrastructure, with a secondary code of FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout). Its NAICS code is 522320 and its SIC code is 6159.