PayZeep, a Nigerian fintech startup, is empowering ride-hailing drivers in the country by offering them a new payment solution that circumvents traditional platforms like Uber and Bolt. This move aims to address the growing concerns of drivers regarding commission fees and limited earning potential.
By partnering with the Amalgamated Union of App-based Transporters of Nigeria (AUATON), PayZeep provides drivers with access to point-of-sale (POS) devices, enabling them to receive payments directly from passengers. This approach allows drivers to gain greater control over their earnings and reduce their reliance on the commission structures imposed by ride-hailing platforms.
While this initiative offers significant potential for drivers, it also presents certain challenges. PayZeep has implemented a minimum daily ride requirement to ensure the program’s sustainability. However, the company also offers incentives such as commissions on transactions processed through the POS devices.
This innovative solution addresses the evolving needs of the ride-hailing industry in Nigeria, where drivers face increasing economic pressures due to rising fuel costs and operational expenses. By empowering drivers with greater financial autonomy, PayZeep is not only disrupting the traditional payment landscape but also contributing to the growth of the Nigerian fintech ecosystem.
