Nigeria’s OmniRetail acquires Traction Apps
OmniRetail named Africa’s fastest growing company FT Ranking 2024got traction appa payment solutions provider for small merchants in Nigeria. Details of the transaction were not disclosed.
Launched Omni Retail omnipay In 2022, we will provide a platform that integrates with 13 financial service providers to facilitate collections and supplier payments. OmniPay also leverages transaction data to generate credit scores for underserved retailers.
The acquisition will enable OmniRetail to incorporate Traction’s merchant POS services into its existing OmniPay platform. Traction currently serves sectors including retail, supermarkets, restaurants, fashion and electronics, three of which align with Omni’s customer base.
After the acquisition, the combined company will provide services. 180,000 customers In the wholesale and retail sector, the annual trading volume is 1 billion dollars and loan facilitation 122 million USD Every year.
The integration of Traction Apps and OmniPay will be implemented in stages, with full integration expected to be completed by the end of Q1 2025.
