Victor Daniyan, Founder and CEO of Nearpays and Yourrider, is transforming how Africa pays and powers its future. Recognized as a Forbes 30 Under 30 nominee and Certified Management Consultant, he uses his expertise to create impactful, user-friendly solutions. Nearpays is pioneering contactless and AI-driven payment technology, and Yourrider is building the continent’s EV swap and charging network. In this interview, he discusses building technology-led solutions in Nigeria, simplifying digital payments for merchants, and why integrating fintech with clean energy is key to Africa’s future.

What gap in Nigeria’s broader economy first pushed you toward building technology-led businesses rather than traditional enterprises?

I was driven to build technology-led businesses by the glaring gaps in Nigeria’s economy, particularly the limited access to financial services for SMEs and individuals. Traditional enterprises seemed ill-equipped to address these challenges, and I saw an opportunity to leverage technology to bridge this gap. The widespread adoption of mobile phones and internet connectivity presented a chance to create innovative solutions, empowering underserved communities and driving financial inclusion. This realization pushed me toward building Nearpays, a tech-led business that harnesses the power of mobile technology to democratize financial access.

For a first-time merchant, what happens from the moment they log into the Nearpays SoftPOS app to activating a virtual POS, and what design choices make this process easy?

I’m excited to walk you through the onboarding process for a first-time merchant. From the moment they log into the SoftPOS app, we guide them through a simple, intuitive journey. They start by entering basic business details and verifying their identity – it’s straightforward and designed to be quick. Next, they set up their virtual POS, choosing their preferred payment methods and customizing their checkout experience. Our AI-powered assistant provides real-time support, answering questions and offering tips along the way.

We made deliberate design choices to make this process easy. The app’s clean, minimalistic UI focuses on clarity, with clear calls-to-action and simple language. For example, we use Nigerian English and local payment terminology to make it relatable. The onboarding flow is linear, breaking down complex steps into manageable chunks, reducing overwhelm. Plus, our predictive suggestions and autofill options speed up data entry. The result? A merchant can activate their virtual POS and start accepting payments in under 10 minutes – no fintech expertise needed.

The ‘add amount, select card type, tap/slide and enter PIN’ flow is central to Nearpays SoftPOS. How does this simplify transactions compared with conventional POS terminals?

I’d say our ‘add amount, select card type, tap/slide and enter PIN’ flow simplifies transactions compared to conventional POS terminals by making it faster and more intuitive. With SoftPOS, merchants don’t need to juggle with cash, cards, or handle multiple devices – everything happens on one smartphone screen. The flow is designed to be straightforward, reducing checkout time and minimizing errors. Plus, it works with existing cards and mobile wallets, so customers use what they’re familiar with. Overall, it’s a smoother, speedier experience for both merchant and customer.

Nearpays uses referral codes for onboarding. How do peer recommendations help build trust and speed up fintech adoption among small business owners?

I’d love to share how our referral system works. When an existing merchant refers a friend or colleague, we provide a unique referral code that incentivizes them to join. This approach leverages the power of word-of-mouth, allowing trusted relationships to drive adoption. Small business owners are more likely to trust a fintech solution recommended by someone they know, making it easier for us to expand our reach.

Pair recommendations play a significant role in building trust and speeding up adoption. When a peer recommends Nearpays, it comes with a stamp of approval, reducing skepticism and increasing credibility. This organic growth strategy allows us to tap into existing social networks, fostering a community of trusted users who vouch for our platform. As a result, new merchants are more confident in adopting our solutions, and we’re able to scale faster while maintaining a high level of trust.

Nearpays SoftPOS operates in a tightly regulated space. What regulatory and compliance hurdles exist in Nigeria, and how has Nearpays worked within them?

I’d like to update that we’ve continued to work diligently to comply with Nigeria’s regulatory landscape, implementing robust Know Your Customer (KYC) processes, data protection measures, and transaction monitoring systems. Our SoftPOS solution is designed to meet the Central Bank of Nigeria’s (CBN) security and operational standards, and we’ve updated our tier system to align with CBN requirements, ensuring a safer environment for users.

You are building in both fintech and clean energy. Why did you choose to connect Nearpays’ payment infrastructure with Yourrider’s EV swap and charging model?

Integrating our payment infrastructure with YourRider’s EV swap and charging model was a strategic move to create a seamless ecosystem for our users. By connecting Nearpays’ payment solutions with YourRider’s EV charging network, we’re enabling riders to easily pay for charging and battery swaps using our platform. This integration reduces transaction friction, making electric mobility more accessible and convenient for our customers.

This partnership also opens up new revenue streams for both companies. We’re creating a win-win situation where riders enjoy hassle-free payments, and businesses benefit from increased transaction volumes. As EV adoption grows in Nigeria, our integrated solution positions us at the forefront of this shift, driving financial inclusion and sustainable energy solutions.

As a Certified Management Consultant, how has formal management training influenced how you scale startups and manage risk?

My formal management training has been instrumental in scaling our startup and managing risk effectively. The frameworks and methodologies I’ve learned have helped me develop a structured approach to decision-making, prioritize strategic initiatives, and build a robust risk management framework. For instance, applying the McKinsey 7S model has enabled me to align our organization’s strategy, structure, and culture, driving cohesive growth. Additionally, my training in financial modeling and data analysis has allowed me to make data-driven decisions, mitigate potential risks, and optimize resource allocation, ultimately enabling Nearpays to scale efficiently and sustainably.

With no extra hardware involved, how do you balance affordability, transaction speed, and security for SMEs using Soft POS?

At Nearpays, we balance affordability, transaction speed, and security for SMEs using SoftPOS by leveraging advanced technology and smart design. Our solution utilizes tokenization, encryption, and AI-driven risk management to ensure secure transactions, while our cloud-based infrastructure enables fast and seamless processing – all on the merchant’s existing smartphone. By eliminating the need for additional hardware, we keep costs low and make it accessible to SMEs. This approach allows us to deliver a secure, speedy, and affordable payment experience that meets the unique needs of small businesses.

Beyond revenue and growth metrics, what personal satisfaction do you draw from seeing merchants succeed on your platform?

The personal satisfaction I draw from seeing merchants succeed on our platform goes beyond revenue and growth metrics. It’s the countless moments when our solutions empower entrepreneurs, like a market trader expanding her business or a small shopkeeper offering digital payments for the first time. These stories remind me of the human impact behind our work – we’re not just building a company, we’re enabling dreams and uplifting communities. It’s a privilege to play a part in their growth and see the ripple effects of financial inclusion.

Looking ahead to the near term, how do you expect clean energy payments and fintech solutions to intersect in Africa over the next year?

I envision a significant intersection of clean energy payments and fintech solutions in Africa over the next year, driven by growing energy demand and mobile payment adoption. We’ll leverage AI-powered payments to enable pay-as-you-go solar energy systems, allowing customers to make manageable payments for energy access, promoting financial inclusion and energy access. Partnerships between fintechs, energy companies, and governments will surge, driving growth and transforming Africa’s energy landscape.