Digital payment platforms RoutePay and 9PSB have called on micro, small, and medium enterprises (MSMEs) in Nigeria to embrace digital financial solutions to enhance business operations, profitability, and security. The companies made this appeal during a recent webinar hosted by Routelink Group, RoutePay’s parent company, on “Driving Financial Inclusion through Innovative Digital Payment Solutions.”
Akeem Salam, a group head at 9PSB, highlighted the impact of digital payments on sales and efficiency for MSMEs, stating, “Integrating digital payment systems helps achieve higher sales volumes and profitability.” Partnering with RoutePay, 9PSB supports deploying secure digital solutions for MSMEs to reduce risks associated with handling cash.
Salam emphasized the real-time tracking and traceability benefits of digital payments, noting, “Handling cash poses various risks, while digital payments allow for traceability, making it easier for merchants to identify fund leakages. Digital payment options also enable business expansion without physical location constraints, allowing entrepreneurs to reach customers nationwide.”
While acknowledging MSMEs’ concerns over cybersecurity and digital adoption costs, Salam encouraged businesses to use digital payment infrastructure, which provides safer transaction monitoring and reduces cash-related discrepancies. He further stressed that financial literacy and inclusion are essential for effective business management.
Abayomi Olomu, Managing Director of RoutePay, pointed out that with the widespread availability of e-wallets and fintech solutions, MSMEs have unique opportunities to streamline operations and improve cash flow. “With 40 million Nigerians running small businesses, financial inclusion is crucial. RoutePay aims to empower them with innovative products and services that address their challenges,” Olomu stated.
The session underscored the role of digital payments in enhancing efficiency, security, and growth opportunities for MSMEs across Nigeria and beyond, urging business owners to capitalize on fintech tools for their operations and long-term sustainability.
