The Big Comeback: VoguePay 3.0 to Launch a Digital Bank Soon

After being quiet for a long time, Nigeria’s premier FinTech startup, VoguePay, is once again in the news.

VoguePay is a Nigerian payment company which started operations in 2012 to help reduce the cost of online payment integration. For a while, the company seemed to have gone stale, with its place taken over by start-ups such as PayStack and Flutterwave.

However,  the company has signalled a comeback. It just launched a new version of its payment gateway system to its over 60,000 merchants.

The new system, dubbed VoguePay 3.0, represents a complete overhaul of the VoguePay gateway system. It spots a fresh design and faster transaction time. The company is hoping the revitalised platform would make it easier for businesses to send and receive payments from both local and international customers.

In addition, the new system adds greater support for various currencies, allowing its customers to accept payments in dollar, euro, rand, cedis, naira and, interestingly, Bitcoin. That’s right, Bitcoin!

The Bitcoin Believer

VoguePay has always been a big believer in the power of blockchain technology and Bitcoin. Its foray into Bitcoin dates back to 2015, when it introduced Bitcoin trading in partnership with Ice3x. The introduction of Bitcoin payments is thus, not as a result of any new trend, but in furtherance of an existing goal.

According to the company, VoguePay 3.0 is a primer into greater things to come. The company is looking to launch Africa’s first blockchain-powered digital bank. No much information is available about this yet, but it is looking to roll it out by Q2 of 2018.

VoguePay Takes Blockchain Tech to INTERPOL

In another development, VoguePay has scored a new partnership with global police organisation, INTERPOL. VoguePay is using its experience in the areas of payment security and blockchain to develop a scalable, cross-platform information sharing system for INTERPOL.

VoguePay CEO, Michael Simeon, shared that,

Blockchain technology is the next evolution in identity management, and that by leveraging blockchain, INTERPOL is now better positioned to offer cross-agency data and biometric collaboration with partners in Nigeria.

The digital platform gives INTERPOL a medium for citizen engagement and collaboration with partner networks for crime control in Nigeria.

The new platform, called InterPort, will be delivered by VoguePay in phases.