Nigerian fintech company Swerv is deepening its focus on business payments, offering infrastructure that allows fintechs and other companies to issue virtual cards, automate payouts, collect payments and handle cross-border transactions through application programming interfaces.

The company positions itself as a business-to-business payments platform rather than a consumer wallet, with products built for companies that want to integrate financial services directly into their own applications.

Swerv’s current product stack includes virtual card issuing, bank payouts, payment collections and developer APIs, while its documentation also shows support for transaction management, customer accounts and webhooks that allow businesses to receive real-time payment notifications.

Its card-issuing service allows businesses to create and manage virtual dollar cards for customers or internal expenses. Developers can create cards through Swerv’s API and perform functions including funding, freezing, withdrawing from and terminating cards.

The company also offers a payout API for businesses that need to send money to Nigerian bank accounts automatically.

According to Swerv’s developer documentation, naira payouts are currently supported, while dollar, pound and euro payout options are listed as planned additions.

Swerv says its payout system uses multiple fallback channels to reduce transaction downtime. The company claims the system can cut payout downtime by as much as 98 per cent, although that figure is a company-reported performance claim and has not been independently verified by Verita Post.

The platform also provides payment collection tools that allow businesses to create transaction accounts and receive customer payments through its APIs and software libraries.

Beyond local payment infrastructure, Swerv has also moved into stablecoin-based cross-border settlement for businesses that need access to offshore dollar liquidity.

Company CEO Clinton Oyelami said Swerv had processed more than $10 million in stablecoin transactions over a period of several months through an over-the-counter service allowing businesses to move between naira and digital dollar assets such as USDT and USDC.

The company said the service is targeted at fintechs, importers and payment platforms that need to settle overseas transactions or make supplier payments.

The $10 million figure is based on Swerv’s own disclosure and has not been independently audited by Verita Post.

Swerv’s website lists companies including VFD Microfinance Bank, Gowagr!, CircleFunds, Dexpay and YangaPlug among businesses it says use or trust its services.

The company has also introduced a mobile business-payments application that allows teams to monitor wallets, manage collections and payouts, issue invoices and handle virtual-card operations from one interface.

Swerv’s expansion comes as Nigerian fintech companies increasingly move beyond consumer-facing wallets into payment infrastructure that can be embedded inside other businesses.

For Swerv, the strategy is centred on becoming part of that underlying layer, providing the rails that other companies can use to issue cards, move funds and process payments without building those systems from scratch.