Platnova Enhances Payment Solutions for High-Volume Businesses

Platnova is positioning itself as a leading alternative for businesses seeking reliable payment infrastructure in Africa, particularly those with high-volume demands. The company aims to replace fragmented tools with a unified, scalable platform designed to handle thousands of daily transactions.

Traditional payment providers often struggle during peak periods, leading to operational strains and eroding customer trust. Platnova's solution includes a virtual account system that allows businesses to create up to five virtual accounts per customer, facilitating the management and tracking of high-value transactions, which can reach thousands of billions of naira.

The platform offers flexible settlement schedules, enabling clients to choose daily or multiple settlement times, thus improving liquidity management. Platnova charges a standard fee of 1% plus a flat N100 cap for payouts up to N5,000, with a dedicated high-volume tier offering a flat fee of N500 per transaction.

Benjamin Oyemonlan, the Chief Executive Officer of Platnova, noted that the platform was developed in direct response to the frustrations faced by growing businesses struggling with inadequate payment systems.