SecurePay
SecurePay is a CBN-licensed Nigerian payment gateway that enables businesses to accept payments online and in-store, process disbursements, manage settlements, and handle billing via cards, bank transfers, USSD, and QR, serving Nigerian SMBs, freelancers, and enterprises.
- Company typePrivate
- Founded2020
- HeadquartersLagos, Nigeria
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What SecurePay does
SecurePay, operated by SID Digital Limited, is a Nigerian payment gateway platform licensed by the Central Bank of Nigeria and headquartered in Lagos. The company provides an integrated payment infrastructure enabling businesses to accept payments online and in-store via cards, bank transfers, USSD, QR codes, and PoS terminals, while also offering billing and invoicing, settlement configuration, direct debit, payment links, and a digital storefront module. Its underlying technology consists of a payment processing engine marketed as a fail-safe architecture for high-volume collections, disbursements, and settlements, exposed to developers through a documented REST API at docs.getsecurepay.ai, with PCI DSS, ISO 27001, and ISO 27701 compliance and SSL-encrypted transaction handling.
The platform supports flexible settlement flows including One-to-Many, Many-to-One, and Many-to-Many configurations, dynamic virtual accounts for transfer-based payments, and real-time fraud detection. SecurePay's go-to-market is product-led, with self-serve onboarding through dashboard.getsecurepay.ai and a free account tier, supplemented by a sales team for enterprise implementations. Distribution is concentrated in Nigeria, with the merchant agreement restricting account eligibility to businesses located in Nigeria.
Monetization is primarily transaction-based: 1.5% plus NGN 100 for local card transactions (capped at NGN 2,000 per transaction, with the NGN 100 waived under NGN 2,500), 3.9% plus NGN 100 for international cards, NGN 10 per bank transfer under NGN 5,000, and optional PoS hardware purchase or lease. The company claims 10,000 customers and 100 million processed transactions, targeting Nigerian small businesses, freelancers, online merchants, and enterprise clients across e-commerce, financial services, logistics, and technology verticals.
SecurePay firmographics
Firmographics- Name
- SecurePay
- Legal name
- SID Digital Limited
- Website
- https://getsecurepay.ai
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- SecurePay is a CBN-licensed Nigerian payment gateway that enables businesses to accept payments online and in-store, process disbursements, manage settlements, and handle billing via cards, bank transfers, USSD, and QR, serving Nigerian SMBs, freelancers, and enterprises.
- Ownership category
- akta.pro rank
SecurePay industry classification
Industry- Product category
- Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), 3D Secure, Authentication & Access Control (FSAMALAD)
Keywords
Where SecurePay is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
SecurePay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Card Transaction Fees: Transaction-based fees charged on card payments. Local card transactions: 1.5% + NGN 100 (waived for transactions under NGN 2,500, capped at NGN 2,000). International card transactions: 3.9% + NGN 100, settled in Naira by default or USD optionally.
- Transfer Fees: Fees charged on bank transfer payments. Transfers of NGN 5,000 and below: NGN 10 per transfer. Settlement is free by default.
- PoS Terminal: PoS Terminal purchase fee or lease option for fixed period. Ownership passes upon completion of purchase fee.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Local Card Transactions - 1.5% + NGN 100 |
| Transaction based/ take rate | Pay-as-you-go | International Card Transactions - 3.9% + NGN 100 |
| Unit Pricing | Pay-as-you-go | Bank Transfers (NGN 5,000 and below) - NGN 10 |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
SecurePay product offering
Product offeringCore offering
SecurePay provides a unified payment gateway platform that enables Nigerian businesses to accept online and in-store payments via cards, bank transfers, USSD, QR codes, and PoS terminals. The platform bundles core payment processing with billing and invoicing, multi-party settlement, payment links, direct debit, and a digital storefront. It is delivered through a self-serve merchant dashboard and a developer-first API, regulated by the Central Bank of Nigeria.
Product overview
SecurePay is an all-in-one payment and business management platform that combines a core payment gateway with multiple integrated modules including Billing and Invoicing, Settlement, Pay with Transfer, Payment Links, Direct Debit, and Storefront capabilities. The platform enables businesses to accept payments via card, bank transfer, USSD, and QR code; create and send professional invoices; manage one-to-many, many-to-one, and many-to-many settlement flows; and present products online through built-in storefronts—all accessible from a single dashboard.
Differentiator
Problem solved
Functional benefit
Products and services
- SecurePay Payment Gateway Platform A comprehensive payment gateway platform enabling businesses in Nigeria to accept online and in-store payments, process bank transfers, manage settlements, and create invoices from a unified dashboard. Accepts cards, bank transfers, USSD, and QR code payments; serves SMBs, freelancers, and enterprises.
- Billing and Invoicing Invoice creation and management product for businesses to create professional invoices with logos and itemized items, send via email or payment links, and track payment status including automated reminders for overdue invoices. Targeted at freelancers, service providers, and small businesses in Nigeria.
- Smart Settlement Multi-party settlement service supporting One-to-Many (splitting payments across recipients), Many-to-One (consolidating collections), and Many-to-Many transfer configurations with split percentages, fixed amounts, or conditional logic. Designed for complex business payouts and collections.
- Pay with Transfer Direct bank transfer payment product offering dynamic one-time virtual accounts for individual transactions and static fixed accounts for regular customers, with automated reconciliation and real-time payment notifications.
- SecurePay PoS Terminal Physical point-of-sale terminal hardware offered for outright purchase or fixed-period lease, enabling in-store card payment acceptance. Ownership transfers to the merchant upon completion of the purchase fee.
Quantifiable outcome
- Trusted by over 100+ companies globally
- +4 more outcomes
Companies that use SecurePay
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles3 records
SecurePay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature8 records
SecurePay partnerships and signals
Strategic signalScale indicators6 records
Recent moves6 records
Expansion highlights5 records
SecurePay competitors and assessment
Company assessmentDirect peers
- Paystack: Nigerian payment gateway offering cards, bank transfers, and USSD via API for online businesses. Acquired by Stripe in 2020, it is SecurePay's most direct competitor in serving Nigerian SMBs and developers with developer-first onboarding.
- Remita: Nigerian payment gateway and collections platform processing cards, bank transfers, and bulk disbursements for businesses and government. Comparable gateway and disbursement capabilities with a focus on enterprise and institutional clients.
- Flutterwave: Pan-African payment gateway providing card processing, bank transfers, and settlement APIs across Nigeria and beyond. Competes head-on with SecurePay in the Nigerian market and operates at meaningfully greater scale with significant VC backing.
- Moniepoint: Nigerian merchant acquirer and payment service provider focused on SMBs with PoS terminals and digital banking. Directly comparable to SecurePay's SMB merchant acquiring and PoS offering, with significant scale and VC backing.
- OPay: Nigeria-based mobile payment platform offering merchant payments, PoS, and consumer wallets. Competes with SecurePay in merchant acquiring and digital storefront categories, with strong consumer brand and capital.
- VoguePay: Earlier-stage Nigerian payment gateway offering online card acceptance and API integration for merchants. A direct competitor in the developer-led gateway category with a longer operating history.
Regional players
- Chipper Cash: Pan-African digital payments app with consumer and merchant services across multiple African countries. Comparable on cross-border and merchant acquiring themes, though not Nigeria-domiciled and primarily consumer-led.
Broad incumbents
- Stripe: Global payment platform whose acquisition of Paystack makes it a strategic incumbent relevant to any Nigerian gateway. Defines developer experience benchmarks that SecurePay's API must match for SMB and enterprise appeal.
- Interswitch: Nigerian payments incumbent operating Quickteller, WebPAY, and Verve card network. A broad incumbent that overlaps SecurePay's gateway and PoS business while serving a much wider financial services portfolio.
Emerging players
- Squad (by Prospa): Nigerian business banking and payments platform offering POS, cards, and invoicing for SMBs. An emerging player with similar SMB-focused product bundling including payment acceptance and business management.
Market position
Strengths3 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
SecurePay social profiles
Digital presenceSecurePay compliance and trust
Trust signalCompliance5 records
SecurePay financial estimates
Financial estimateRevenue estimate
Valuation estimate
SecurePay leadership team
Management profileNumber of profiles
SecurePay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SecurePay 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 SecurePay
What does SecurePay do?
SecurePay provides a unified payment gateway platform that enables Nigerian businesses to accept online and in-store payments via cards, bank transfers, USSD, QR codes, and PoS terminals. The platform bundles core payment processing with billing and invoicing, multi-party settlement, payment links, direct debit, and a digital storefront. It is delivered through a self-serve merchant dashboard and a developer-first API, regulated by the Central Bank of Nigeria.
Is SecurePay a public or private company?
SecurePay is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was SecurePay founded?
SecurePay was founded in 2020. It employs 11 to 50 people.
Where is SecurePay based?
SecurePay is headquartered in Lagos, Nigeria, in the Africa region.
How does SecurePay make money?
Three revenue lines are on record. Card Transaction Fees are the primary driver. The others are transfer Fees and poS Terminal.
Who are SecurePay's main competitors?
Direct peers on record are Paystack, Remita, Flutterwave, Moniepoint, OPay and VoguePay. Chipper Cash is listed as a regional player. Broad incumbents are Stripe and Interswitch. Squad (by Prospa) is listed as an emerging player.
Does SecurePay have an API?
Yes. SecurePay provides APIs that allow merchants to access payment services including collections, disbursements, and settlements. The API enables developers to integrate payment processing into applications, manage SecurePay accounts, and access transaction data through publishable and secret API keys. Developer documentation is at docs.getsecurepay.ai.
What industry is SecurePay in?
SecurePay's product category is Payment Processing. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAMAFAF, A2A Checkout & Merchant Acceptance Solutions. Its NAICS code is 522320 and its SIC code is 6099.