Stakeholders from Nigeria and India have identified financial technology as a major driver of cross border trade and investment, saying digital payment innovations are helping businesses overcome longstanding transaction challenges while opening fresh opportunities for growth across key sectors.
The position was highlighted during a business forum organised by global business to business financial technology company Verto in collaboration with Donias Group. The event brought together business leaders to discuss how digital payment infrastructure can strengthen commercial ties between Africa’s largest economy and one of Asia’s fastest growing markets.
Participants observed that although Nigeria and India have maintained strong economic and historical relations for many years, trade between both countries continues to face obstacles caused by payment delays, foreign exchange challenges and limited access to efficient financial infrastructure.
Speaking at the forum, Director of Donias Group, Dinesh Mishra, said modern fintech solutions are transforming international payments by making transactions faster, more transparent and better suited to the realities of emerging markets.
According to him, businesses engaged in international trade require payment systems that can move funds seamlessly across borders without the delays that often discourage investment and commercial activities.
Mishra noted that the trade relationship between Nigeria and India is already worth billions of dollars but said inefficient payment systems have slowed its full potential.
He disclosed that Donias Group, established to strengthen business relations between both countries, currently works with more than 1,000 companies worldwide and has assisted nearly 500 businesses in registering their operations in Nigeria.
He also revealed plans to facilitate investments worth up to 2.4 billion dollars from India into Nigeria, stressing that reliable digital payment infrastructure would be vital to achieving that target.
According to him, delayed payments often disrupt business operations and discourage investors, while fintech innovation is steadily removing those barriers and creating a more stable environment for cross border commerce.
Mishra further highlighted the importance of localisation in digital business, pointing to software company Zoho as an example. He explained that the company’s decision to introduce pricing in naira significantly improved its growth in Nigeria by making its products more accessible despite exchange rate fluctuations.
General Manager of Verto, Adeyemi Adeboyejo, described technology as one of the biggest forces reshaping global trade. He said digital innovations have dramatically improved how businesses handle payments, liquidity management and treasury operations.
According to him, advances in financial technology have reduced transaction processing times from several days to near real time while also providing businesses with greater visibility into their financial activities.
Adeboyejo explained that modern businesses increasingly require integrated platforms that allow them to manage payments, monitor liquidity, oversee settlements and track transactions from a single system.
He added that Verto remains committed to simplifying international trade through technology by providing secure, transparent and efficient payment solutions for businesses operating across multiple countries.
The Verto executive also emphasised that trust remains the foundation of cross border payments, noting that businesses must have confidence that their funds will move safely and efficiently for trade and investment to thrive.
He further praised the technology talent available in both Nigeria and India, describing the two countries as home to highly skilled innovators capable of developing world class digital solutions.
According to him, bringing together the strengths of both nations presents enormous opportunities for innovation, investment and economic growth.
Also speaking at the event, Group Chief Financial Officer of Daraju Group, Dr Pravin Kumar, identified foreign exchange volatility and payment delays as some of the biggest challenges confronting companies engaged in international trade.
He said finance professionals are increasingly adopting technology driven treasury management solutions to minimise risks and improve efficiency in cross border transactions.
Kumar noted that timely payments are essential to maintaining healthy cash flow and uninterrupted supply chains, adding that delays often create uncertainty for businesses operating across different markets.
Participants agreed that financial technology will continue to play a vital role in strengthening trade between Nigeria and India by improving payment efficiency, lowering transaction costs and boosting investor confidence.
They also called for closer collaboration among technology firms, financial institutions and manufacturers, saying stronger partnerships would accelerate trade, attract more investment and contribute to sustainable economic growth in both countries.
The forum underscored the growing influence of digital financial services on global commerce and highlighted how emerging technologies are helping businesses navigate the complexities of international trade with greater confidence and efficiency.
