Running a business today requires seamless and reliable payment solutions. As BudPay grows and new businesses develop interest in our products and solutions, we’ve noticed that some questions keep recurring. In this article, we’ve answered the top 5 that are always featured in our inquiries.

Here are the top 5 frequently asked questions about BudPay, answered:

1. What is BudPay about?

BudPay is a payment technology company that offers businesses a comprehensive payment suite, enabling them to succeed in Africa and beyond.

Launched in 2022, BudPay supports online and offline payments through partnerships with leading banks, fintechs, and mobile money operators. It offers features like Payment Links, Invoicing, and various checkout options.

BudPay is licensed by the Central Bank of Nigeria and certified for top security standards, including ISO 27001 & 22301, PCI-DSS, GDPR, and NDPR. It is also AML/CFT compliant.

BudPay operates in four African markets, as well as in China and the United Kingdom. It can also accept payments in more than 100 countries.

2. Is BudPay related to Bud Infrastructure?

Yes, BudPay is a product of Bud Infrastructure Limited.

Bud Infrastructure Limited is a technology company focused on building modern payment infrastructure. BudPay is one of their primary products, designed to facilitate global business payments.

So, while BudPay is the specific product, Bud Infrastructure Limited is the parent company behind it.

3. Which products/services does BudPay offer?

BudPay offers a range of payment services designed to meet the needs of businesses, both large and small. They include:

a. Payment Links: A URL that directs users to a payment gateway where they can securely make a payment online. It's used by businesses to facilitate transactions without the need for a dedicated e-commerce website. Businesses generate and share these links with customers via email, messaging apps, or websites. Customers can then click the link, enter their payment details, and complete the transaction quickly and securely.

b. Checkout / Payment Modal with various payment options (Cards, Bank Transfers, USSD, Mobile Money): BudPay offers payment gateways that businesses can use to collect payments through API integrations. These gateways can be connected to e-commerce websites or booking pages. BudPay’s checkout modal, which users interface with, has various payment methods.

c. Invoicing: BudPay’s invoices can be used to receive local and international payments. Each invoice comes with a unique link that reveals a set of payment options for the payer. The invoices also have automated reminders

d. Bill Payments: Businesses and individual users can pay various bills, such as utility bills (electricity, water, gas), airtime, and other expenses. Every bill paid with BudPay earns cash-back bonuses.

e. Teams and Collaboration: This feature allows businesses to give their team members access to collaborate and manage payments on the dashboard. Founders or senior team members can delegate routine payment management tasks, thereby improving operational efficiency.

f. In-Store Offline Payments (QR Codes and Pay by Bank Transfers): BudPay provides offline payment services for businesses that need to collect payments in physical stores. Our flagship product, Scan to Pay, allows customers to make payments by scanning a unique QR code displayed on tabletop signage or initiating a direct bank transfer. This eliminates the need for cash, cards, or a traditional point-of-sale system.

4. Is BudPay only for businesses?

Yes. BudPay has been designed to cater to businesses of all sizes, from startups to SMEs and enterprise companies.

However, we recognize the payment needs of sole proprietors who are still looking to structure their ventures. After completing the necessary verification, this category can use a tier of BudPay’s solutions.

5. How does BudPay work?

As a licensed payment service provider, BudPay processes business transactions. BudPay’s technology allows businesses to accept and make payments to all leading banks, fintechs, and mobile money operators. BudPay achieves this through strategic partnerships with all commercial banks, all payment switches (including the Nigerian Interbank Settlement System—NIBSS), and other key infrastructure providers within the payment processing ecosystem in Nigeria and other African countries.

We offer both online and offline payment solutions to businesses. Request a demo or sign up for more information. You can also contact our support team via email (hi@budpay.com) or live chat at www.budpay.com.