According to Vanguard, technology has significantly transformed financial transactions in Nigeria, allowing individuals to conduct activities such as sending money, paying bills, and purchasing airtime via mobile phones without needing to visit a bank. This shift towards digital financial services is exemplified by OPay, which is playing an increasing role in facilitating access to these services as the economy becomes more digital.

OPay is playing a significant role in Nigeria's digital payment revolution by enhancing financial inclusion, facilitating commerce, and contributing to the development of the country's digital economy, according to Legit.ng.

South Africa's Yoco is expanding its services beyond payment processing through a new artificial intelligence deal. This development is part of a broader discussion that includes the Central Bank of Nigeria's data localisation rule, which has raised concerns within the fintech sector, and Visa's plans to integrate AI for shopping with cards in South Africa, according to Techpoint Africa.

According to CIO Africa, Africa's payments landscape is evolving into a new phase that goes beyond mere digital transactions, focusing on the development of intelligent and interconnected financial ecosystems. This shift indicates a significant transformation in how financial services are delivered and utilized across the continent.

Yoco has expanded its offerings beyond traditional card payments by launching an AI-powered platform that includes over 20 new features. These features comprise an AI assistant, loyalty rewards, tools tailored for specific industries, reduced fees, and savings pockets designed to assist businesses in their operations.

Emma Okonji discusses the challenges faced by Nigerian Small and Medium Enterprises (SMEs) in implementing Artificial Intelligence (AI) tools. The conversation has often centered on high-level innovation, but many SMEs struggle with practical implementation issues.