If you are a keen observer of the Nigerian startup scene you will have realized that there’s a large number of fin-tech startups. By our count there are more than twenty of them. One of such startups is Amplify Pay, a startup that has made it easier to collect recurring & subscription-based payments.
Faith History spoke with Segun Adeyemi, one of its Co-founder, in this interview. Keep reading to learn more about the startup.
First, Let’s Meet Segun Adeyemi, Co-founder at Amplify Pay
Segun Adeyemi studied Economics at the University of Lagos where he a built a game called SoccerQuiz. He built the web game together with a friend. The app was not financially profitable but it was one way to feed his interest in technology. Segun Adeyemi had a passion for technology even though he never studied it at the degree level. He joined the labor market as an intern at a technology company. He also worked as an Investment Banker sometime afterwards.
His foray into the technology was later established when he applied to the Meltwater Entrepreneurial School of Technology (MEST) in Accra, Ghana. His application was successful and he got into the incubator program. He resigned from his employment at the time in order to attend the one year program. During the program at MEST, he learnt a lot of things about Entrepreneurship and was able to test out his ideas. MEST provides everything that Entrepreneurs need to succeed at the initial stage of their journey and beyond. Segun Adeyemi and his Co-founder were able to eventually secure seed funding from MEST. Another startup that has benefited from MEST is Oncenout. Check out its interview with Faith History here.
What Exactly Does Amplify Pay Do?
Segun Adeyemi and his team started working on the idea sometimes towards the end of 2015. Amplify Pay was officially launched in Nigeria in June 2016. Amplify Pay helps businesses collect and manage their online payments. The startup focuses on recurring and subscription-based payments. Mr. Adeyemi considers his platform the most effective way to accept recurring payments in Nigeria as at today. His startup consults and works with micro-finance banks and online lenders. They help these firms think through their automation and digital strategy. Amplify Pay assists some of them in automating disbursements.
‘Amplify Payment Forms’ helps small businesses and startups accept electronic payments in less than five minutes. Users can simply login to the platform and generate payments links. Afterwards, they may share this link with their customers. Customers can buy and make payments for goods and services using the link.