What Teamapt Limited does

Teamapt Limited is a Nigerian CBN-licensed Switching and Processing Company headquartered in Lekki Phase 1, Lagos. It builds payment infrastructure that enables commercial banks, microfinance banks, payment facilitators, and merchants in Nigeria to process card and account-based transactions, including POS, web, and inter-bank payments, as well as direct-debit collections.

The company's product portfolio spans four interlocking offerings: Direct-to-Bank Solutions (anchored by the AptPay Transaction Switch, which lets issuing banks process their customers' POS and web payments directly), Switching Solutions (powered by the proprietary Juliana Switch, which routes transactions between acquirers and issuers with reduced downtime and failure points), Third Party Processing (end-to-end acquirer and issuer processing with authentication and tokenization), and Aptpay Direct Debit (a digital payment system comprising an Issuer Module and a Router Module for mandate and transaction routing). The stack is integrated with the NIBSS inter-bank settlement system and the Verve domestic card network, and the company maintains an Integrated Management System certified to ISO 27001, 20000, 22301, 9001, and 45001.

TeamApt operates a B2B enterprise go-to-market, selling directly to financial institutions and fintechs on multi-year, quote-based agreements. Revenue is generated through transaction-based processing fees on payment volumes and recurring license/subscription fees for software products such as Aptpay Direct Debit. Disclosed customers include major Nigerian commercial banks (Access Bank, UBA, Fidelity Bank, Union Bank, Sterling Bank, FCMB, Wema Bank, Afrigo Bank) and high-growth fintechs (Moniepoint, PalmPay, Nomba, Habari), with marketing reach extending to merchants and super-agents. The corporate site also references a Payment Gateway offering linked to monnify.com, suggesting adjacent merchant-acceptance capability.

Name

Teamapt Limited

Legal name

Teamapt Limited

Website

https://teamaptltd.com

Company type

Private

Operating status

Operating

Short description

TeamApt is a CBN-licensed Nigerian payment switching and processing company that provides banks, fintechs, and merchants with direct-to-bank, inter-bank switching, third-party processing, and direct-debit infrastructure on multi-year enterprise contracts.

Ownership category

akta.pro rank

Product category

Payment Processing Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Processor Back-End & Switch Providers (Issuer/Acquirer Processing Infrastructure) (FSAMABAJ)

akta.pro secondary industries

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), Instant Payment Scheme Connectivity & Processing (e.g., FedNow, SEPA Instant, Faster Payments) (FSAMAHAD)

Keywords

• Payment processing infrastructure
• Payment switching solutions
• Direct debit platform
• Inter-bank transfer processing
• Payment gateway services

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Payment Processing Fees: Transaction-based fees from processing payments across switching, third-party processing, and direct-to-bank solutions. Revenue generated from transaction volumes processed through the platform infrastructure for banks and merchants.
2. Aptpay Direct Debit Licensing: License fees for Aptpay Direct Debit software including Issuer Module and Router Module. Users pay applicable fees within specified timeframes per the agreement. Additional fees for increased scope of use.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Teamapt Limited is a CBN-licensed Switching and Processing Company that builds and operates payment processing infrastructure for banks, merchants, and payment facilitators across Nigeria. Its core offerings include Direct-to-Bank Solutions (POS and web payment processing via Aptpay Transaction Switch), Switching Solutions powered by Juliana Switch (inter-bank payment routing), Third Party Processing (end-to-end acquirer and issuer processing with authentication and tokenization), and Aptpay Direct Debit (Issuer and Router modules enabling direct debit collections). The infrastructure enables reliable POS, web, inter-bank, and recurring payment processing with reduced downtimes and failure points.

Product overview

Teamapt Limited is a CBN-licensed Switching and Processing Company offering a portfolio of payment solutions. The core offering consists of Direct-to-Bank Solutions (featuring Aptpay Transaction Switch for direct POS and web payment processing), Switching Solutions powered by the Juliana Switch (enabling hitch-free inter-bank transfers and payment switching), and Third Party Processing (providing end-to-end acquirer/issuer processing with authentication and tokenization). Additionally, Aptpay Direct Debit provides a digital payment system with an Issuer Module and Routing Module for direct debit transactions. The products work together to provide cross-industry payment processing enabling seamless payments for Banks, Merchants and their customers.

Differentiator

Problem solved

Functional benefit

Brands

• Aptpay: Digital payment system providing direct debit solutions for banks, digital payment facilitators, and merchants.
• Aptpay Transaction Switch
• Juliana Switch

Products and services

• Direct-to-Bank Solutions

Quantifiable outcome

• Significantly reduced downtimes and failure points in payment processing
• +1 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• NIBSS (Nigerian Inter-Bank Settlement Scheme)coreTechnology or IntegrationNIBSS is the central infrastructure operator for Nigeria's banking payments ecosystem. TeamApt integrates with NIBSS infrastructure to enable inter-bank settlement and transaction routing across the Nigerian financial system.
• Verve (Card Network)coreTechnology or IntegrationIntegration with Verve card network for processing card-based transactions across the payment ecosystem.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Interswitch Group: Nigeria's dominant payment switching and processing company (owner of Verve, Quickteller) and a direct competitor to TeamApt's Juliana Switch, TPP, and direct debit offerings. Both are CBN-licensed switches serving Nigerian banks and fintechs with comparable product scopes.
• Flutterwave: Pan-African payments technology company providing payment processing, switching, and gateway infrastructure to banks and merchants. Comparable to TeamApt's TPP and payment processing capabilities across POS, web, and inter-bank transfers.
• Paystack: Nigerian-founded payment gateway and processor (now Stripe-owned) offering transaction processing for businesses and banks across Africa. Direct competitor in merchant payment processing and adjacent to TeamApt's TPP and gateway product surface.

Broad incumbents

• Moniepoint (TeamApt is also a customer of theirs / vice versa per data): Nigerian business banking and payments platform with proprietary processing infrastructure for merchants and agents. Comparable in serving high-volume Nigerian payments, though more vertically integrated into banking/agent banking than TeamApt's infrastructure focus.
• MFS Africa / Onafriq: Pan-African payment hub connecting mobile wallets, banks, and billers across the continent. Comparable in cross-bank and cross-border payment processing infrastructure, with similar B2B positioning to financial institutions.
• Network International: MEA-focused payment processor offering acquiring, issuing, and processing infrastructure. Comparable to TeamApt's Third Party Processing capabilities but at much larger scale and broader geographic footprint.
• ACI Worldwide: Global real-time payments, electronic payments, and banking software provider offering switches, processors, and fraud tools. Provides comparable back-end switching/processing infrastructure to large banks globally.

Others

• NIBSS (Nigeria Inter-Bank Settlement System): Central infrastructure operator for Nigeria's inter-bank settlement and a core integration partner of TeamApt. Although also an ecosystem enabler rather than a direct competitor, NIBSS overlaps in switching/routing capabilities and could be a substitute or partner depending on scheme direction.

Emerging players

• Monnify: Nigerian payment gateway (referenced from TeamApt's own website as a 'Payment Gateway' link) offering seamless payment solutions for businesses. Adjacent fintech in Nigerian payment processing with gateway focus; closely related as it appears on TeamApt's navigation surface.

Regional players

• DPO Group (PayU): African payment processor (PayU-owned) operating across multiple African markets. Comparable in payment processing infrastructure for merchants and banks, with primary operations outside Nigeria but serving the same enterprise buyer category.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance5 records

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 Teamapt Limited