Staff diverting payments to personal accounts costs Nigerian businesses billions. PayVerify validates that every payment reaches the merchant's official, verified account — before the money moves.
In staff-operated businesses across Nigeria, a recurring pattern of payment diversion goes undetected — costing merchants billions in lost revenue every year.
Rogue employees register personal POS machines or tell customers “our POS is down” — then redirect payments to their own accounts that mimic the business name.
Business owners have no visibility into whether payments actually reached their official account. Diversions can go unnoticed for weeks or months before anyone catches on.
Current banking controls only catch fraud after settlement. Nothing verifies that the payment destination presented to a customer is actually authorised by the merchant.
of Nigerian merchants report experiencing internal payment fraud
in digital payments flow through Nigeria annually — with no merchant-layer validation
registered businesses where staff handle payment collection daily
PayVerify introduces an independent verification step before payment — ensuring every payment instruction originates from an approved merchant source. Staff cannot substitute their own details.
Each merchant is issued a secure QR code tied to their official, verified bank account. Tamper-proof — impossible for staff to forge or substitute.
Merchants onboarded via CAC, TIN, BVN, and bank account ownership checks. Only verified businesses receive a PayVerify code.
Verification happens before payment, not after. Customers see the official merchant name and account details before transferring a single naira.
Merchant tracks all payments from approved devices and sources only. Full audit trail — every transaction attributable and visible to the business owner.
Works with any bank or wallet. Customers pay via their preferred method. PayVerify doesn’t alter existing bank clearing or switching infrastructure.
All staff actions are attributable and auditable. Removes discretionary control at the merchant–staff interaction layer where diversion happens.
Three steps to eliminate staff payment diversion
Merchant is registered and verified via CAC, TIN, BVN, and bank account ownership. Issued a secure PayVerify QR code linked to their official account.
Customer scans the QR from a receipt, invoice, or in-store display. Instantly sees the verified merchant name and official account details. No staff can override this.
Customer pays via any bank or wallet. Both parties receive a verified receipt. The merchant dashboard tracks all payments from approved sources only.
Whether you're a business owner, a customer, or a financial institution — PayVerify creates trust for all parties.
Nigeria is the largest economy in Africa with a young, tech-savvy population rapidly adopting digital payments — but without the merchant-layer controls to match.
Projected fintech market by 2030
Population, 60% under 25
Registered businesses nationwide
Growth in digital payments (2019–2024)
No existing player provides merchant-layer payment validation in Nigeria. PayVerify is the first preventive control at the staff–customer interaction point.
Working directly with banks and financial institutions to bring merchant-layer validation to their customers.
CBN’s cashless economy push and NQR framework compliance create natural demand for merchant-layer validation.
Sustainable revenue model designed to grow with the Nigerian digital payments ecosystem from day one.
PayVerify is actively expanding its product capabilities beyond verification — with new features in development for merchants, banks, and regulators across Nigeria.
Partner With UsPayVerify is building the preventive control layer for Nigerian merchant payments. Be among the first businesses and bank partners to join.
Whether you're a business owner, bank, investor, or technology partner — we'd love to hear from you.
hello@payverify.ng
Location
Lagos, Nigeria