Bankit Microfinance Bank has transitioned to WayvePay, introducing a new brand identity as part of its strategy to build a smarter, faster, more secure and accessible digital banking and payments platform for Nigerians.
The transition, which takes effect on September 18, 2026, goes beyond a change in name and visual identity. Under the new positioning, “WayvePay — Banking & Beyond,” the platform is expanding on Bankit’s existing foundation with enhanced technology, improved functionality and additional services for banking, payments, savings and money management.
Speaking on the transition, the Head of Corporate Communications and Marketing, Kingsley Ezenwa, said the new identity reflects the bank’s ambition to create a broader digital financial platform.
“WayvePay is more than a new name. It represents the next stage of our evolution and what we believe digital banking should offer customers going forward. We are building on the foundation established by Bankit while introducing smarter technology, improved functionality, enhanced security and a more seamless banking and payments experience.
Our commitment to our customers remains the same, but our ambition is bigger. With WayvePay, we are creating a platform that goes beyond traditional banking to help individuals and businesses save smarter, move money faster, make payments more conveniently and manage their financial lives with greater confidence.”
Expanded Banking and Payment Services
WayvePay is introducing a wider range of digital financial services aimed at meeting the everyday needs of individuals, entrepreneurs and businesses. These include savings options, transfers, digital payments, cards and business banking services, alongside improvements designed to make transactions faster and more convenient.
The platform is also upgrading its mobile application with features such as multiple themes, in-app banners and notifications to provide a more personalised customer experience. AI-powered customer support will assist users with common enquiries, onboarding issues and routine transaction challenges, while more complex matters can be referred to authorised support teams.
AI and Security Take Centre Stage
Security is another key part of WayvePay’s digital banking strategy. The platform is deploying AI-enhanced monitoring capabilities to identify unusual transaction patterns and potentially suspicious activities, complementing existing security measures and helping authorised teams respond more efficiently to potential risks.
Beyond its mobile application, WayvePay is expanding access through its dedicated USSD banking channel, *347*271#. The service provides customers with another way to access essential banking services without depending entirely on smartphones or internet connectivity, supporting customers with limited data access or a preference for USSD banking.
Focus on Individuals and Businesses
WayvePay also plans to serve entrepreneurs and small businesses through digital solutions covering payments, transfers, savings, cards and business banking. As digital payments and mobile banking continue to expand in Nigeria, the platform says it will continue investing in artificial intelligence, digital payments, financial security, customer experience and new financial products.
With its “Banking & Beyond” positioning, WayvePay is seeking to move beyond traditional banking services by helping customers save, make payments, transfer money and manage their finances through a broader digital platform. The transition from Bankit marks a new phase in the company’s development as it seeks to strengthen its position within Nigeria’s growing digital financial services sector.
