Nomba expands cross-border payments through integration with the UK open banking system

Nigerian fintech company Nomba has partnered with British payment platform Volume to enable Nigerian businesses to receive payments in British pounds (GBP) directly from British bank accounts. The integration uses the UK's Open Banking platform, which allows customers to authorize payments directly from their banking apps instead of using cards.

This move reduces dependence on traditional payment card processors and cross-border fees, while giving merchants the flexibility to hold funds in British pounds (GBP), convert them to naira (NGN) or US dollars (USD), or transfer balances as needed. Payments are processed by volume and immediately settled in the merchant's wallet in British pounds (GBP).

Early adopters, such as Lagos-based cosmetics brand BeautyByDaz Nigeria, have already processed thousands of pounds from UK customers in the first two months. This corridor is part of Nomba's broader strategy to expand international payment pathways, making global transactions as easy for African businesses as local ones.