Platnova to close payment infrastructure gaps
Platnova is positioning itself as a leading alternative for businesses seeking reliable payment infrastructure engineered specifically for high volume demands. As African companies scale, the payment systems meant to support
Platnova is positioning itself as a leading alternative for businesses seeking reliable payment infrastructure engineered specifically for high volume demands. As African companies scale, the payment systems meant to support them often become major obstacles, but Platnova aims to replace fragmented tools with a unified, scalable platform.
For businesses processing thousands of daily transactions, even brief downtime can erode customer trust and create significant operational strain. Many traditional providers, built for average usage, struggle to handle peak period volumes, forcing companies to rely on patchwork systems for collections, payouts, and reconciliation.
Platnova Business was built to remove these barriers entirely.
At the heart of Platnova’s offering is its NGN Virtual Account system, designed to automate reconciliation at scale.
The platform allows businesses to create up to five virtual accounts per customer, enabling them to manage and track high value transactions from thousands to billions of Naira with the same ease as smaller sums.
The platform provides businesses with flexible settlement schedules, allowing them to customize settlement timing daily, multiple times a day, or on bespoke timelines to improve liquidity management rather than having funds held by a provider. The API also supports fast, reliable bulk disbursements for use cases like payroll or gaming platforms.
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On pricing, standard collections are charged at 1 percent plus N100, capped at N5,000, with payouts at a flat N107.50 inclusive of VAT. For clients processing over 2,000 transactions daily, a dedicated high-volume tier offers a flat fee of N500 per collection transaction, designed to lower overheads as businesses scale into the billions.
According to Benjamin Oyemonlan, Chief Executive Officer of Platnova, the company built its platform in direct response to the frustrations faced by growing businesses.
“We saw too many companies struggling with payment systems that simply could not keep up with their growth. Finance teams were drowning in manual reconciliation while developers wasted time patching broken APIs instead of building new features. We built Platnova Business to remove those barriers entirely. When a business processes billions in transactions on our platform, it is not a stress test for us. It is just another Tuesday,” Oyemonlan said.
Beyond technology, Platnova offers a human centric support model. High volume clients are assigned a dedicated integration specialist during onboarding and an ongoing account manager. This approach, combined with infrastructure proven to handle billions in transactions for existing clients, positions the company as a payment partner for ambitious enterprises.
