Redtech, the FinTech powerhouse founded by Tony Elumelu’s Heirs Holdings, has officially launched RedPay, an ambitious omnichannel payment platform designed to unify and dominate Africa’s digital transaction infrastructure. The launch is not merely the introduction of another payment gateway, but a strategic infrastructure play backed by one of the continent’s largest corporate conglomerates.
RedPay is designed to simplify and secure the entire merchant lifecycle, enabling businesses to collect, manage, and track all revenue streams—online, in-app, and physical point-of-sale (PoS) transactions—through a single, unified system.
The Infrastructure Ambition: PSSP and PTSP Licenses
RedPay’s positioning as a potential market leader is underpinned by its robust regulatory framework. The platform holds crucial licenses, including the Payment Solutions Service Provider (PSSP) and the Payment Terminal Service Provider (PTSP) authorizations. These licenses allow RedPay to operate at multiple levels of the payment ecosystem, from online gateway services to deploying and maintaining physical PoS terminals.
The platform’s technological foundation is built on an advanced orchestration engine that intelligently routes transactions for optimal success rates. This critical feature, combined with its specialized AI-powered fraud protection, is designed to offer the superior reliability and security demanded by major corporate clients.
The Heirs Holdings Advantage: Scale and Trust
Redtech’s competitive edge is derived directly from its parent company. Backed by the financial muscle and extensive network of Heirs Holdings and its investment portfolio (which includes Transcorp and UBA), RedPay gains immediate credibility and unparalleled access to enterprise clients across crucial sectors: power, hospitality, finance, and health.
This strategic alignment allows RedPay to offer more than just transaction processing; it positions the platform to provide integrated financial services, including potential quick-access credit solutions tailored for its merchant ecosystem—a vital added-value service in Africa’s tight liquidity environment.
The Impact on Nigerian SMEs
For the thousands of Nigerian SMEs transitioning their operations online, RedPay promises a fundamental resolution to fragmentation. By consolidating all collection points into a “single source of truth” for financial reporting, the platform allows business owners to focus on growth rather than grappling with multiple reconciliation systems.
The launch solidifies the intent of major African corporate entities to not only participate in the FinTech boom but to actively control and build the foundational digital infrastructure that will drive the continent’s next phase of economic growth.
