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8 - 12 November 2021
CTICC, Cape Town and Virtual Event

electronic Settlement Limited


Electronic Settlement Limited (ESL) is a financial technology company which provides solutions to financial/ payment problems in Nigeria. Its solutions include: 

• CashEnvoy – a payment gateway system that allows payments and money transfer online;  

• PayPad – the first NIBSS certified mPOS provider in Nigeria, which enables merchants to receive payments and earn additional income via the pairing of a smart phone and;  

• PayCenter that seeks to provide or extend banking services to the unbanked and under-served locations in Nigeria.

ESL uses mobile point of sale technology to convert retail outlets such as grocery stores and pharmacies into locations that provide financial access and services to their existing communities. Using their technology, these locations can offer: cash withdrawals and deposits, fund transfer, bill payment, air time top up, account opening, loan applications and card issuance services which serve to increase financial inclusion and access. To date Electronic Settlement Limited have partnered with 9 banks in Nigeria.  Over the past two years, ESL have seen significant growth – in the first quarter of 2015 it processed transactions valued at $53,450 compared to over $5 million in the first quarter of 2017. The company raised $206,000 in a seed round from Venture Kinetic, Venture Garden Group, and U-Africa.