GTCO's HabariPay to Deploy 200,000 Terminals to Compete with Fintechs
HabariPay, the fintech subsidiary of Nigerian financial services giant Guaranty Trust Holding Company Plc (GTCO), is preparing to deploy 200,000 payment terminals. This strategic move aims to bolster its competitive position against existing fintech companies in the market. In 2025, HabariPay demonstrated significant growth, processing a substantial ₦80.9 trillion (approximately $59.04 billion) in payments. This figure represents nearly a threefold increase compared to the payment value handled in the preceding year, highlighting the company's rapid expansion and increasing market penetration. The deployment of these new terminals is expected to further enhance HabariPay's transaction capabilities and reach across Nigeria.
GTCO's initiative to deploy 200,000 terminals represents a strategic response to the evolving fintech landscape. By leveraging its established financial infrastructure and expanding its physical point-of-sale presence, GTCO aims to capture a larger share of digital transactions and counter the agility of specialized fintech firms. This move could signal a broader trend of traditional financial institutions investing heavily in tangible payment infrastructure to maintain relevance and customer engagement in an increasingly digital economy. The substantial increase in HabariPay's processed payment value suggests a growing demand for accessible digital payment solutions, and GTCO's investment may position it to capitalize on this trend over the next decade.
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