When Muhammed Agbaje first started designing websites as an undergraduate in Lagos, Nigeria, he was solving a simple problem: helping small businesses go digital. But over time, his vision expanded into something far more ambitious.
Today, as the founder of Midupay, Agbaje is tackling one of the biggest challenges facing Nigerian small and medium enterprises (SMEs): enabling seamless online payments - both local and international - without the traditional hurdles using crypto.
Agbaje’s journey began with a personal observation. A childhood friend, selling Nigerian-made clothing, wanted to expand her reach to London. Despite having a paid website, she couldn’t accept payments from international customers because she lacked a UK bank account - a limitation many Nigerian entrepreneurs face.
“Crypto is borderless,” Agbaje realized. That idea became Midupay.
“We help businesses accept both Naira and crypto payments seamlessly, and we also make it easy to convert crypto into Naira and withdraw directly to their local bank accounts,” he explains.
“When it comes to international payment gateways, many Nigerian businesses face limitations. The fees are high, and in some cases they aren’t even eligible because certain platforms don’t accept Nigerians. That’s exactly the gap Midupay is solving.”
Solving real pain points
For Nigerian SMEs, establishing an online presence is expensive. Hiring developers, maintaining hosting, and integrating payment gateways adds up quickly. And international payment gateways? Many impose high transaction fees or restrict access based on nationality.
Midupay tackles these pain points by cutting down transaction fees to just 1%, compared to the heavy charges of many international payment gateways. It enables businesses to accept payments in Naira as well as popular cryptocurrencies like Bitcoin, Ethereum, and USDT. In addition, it provides free storefronts with unique links, making it easy for vendors to list and showcase their products seamlessly.
The platform also integrates AI-driven business insights. Midupay’s AI tools analyze de-identified customer data, track competitor performance, and monitor online sentiment, helping entrepreneurs make informed decisions without compromising privacy.
“We’re solving problems across the business spectrum - from simplifying payments to product listing and understanding market trends,” Agbaje explains.
Bootstrapping through challenges
Building a fintech platform is never easy, and Agbaje has faced his fair share of hurdles. He remains the sole developer at Midupay, handling not only coding but also product development strategy.
Regulatory requirements for cryptocurrency add another layer of complexity. “Partnering with organizations required navigating extensive documentation and compliance, especially with EFCC,” he shares. Yet, he views these challenges as opportunities to create a platform that meets the highest standards of security and reliability.
How Midupay works
“Think of it this way,” he says. “Let’s say you sell clothes or gadgets. You come to Midupay, create an account, and immediately you’re given a unique storefront link. That’s your shop window online. You can share that link with your customers, and whatever products you upload from your dashboard - whether it’s fashion, tech, or anything else - will show up there.”
Products are automatically listed in two currencies: Naira and USD. “So if your customer wants to pay in Naira, they’ll see the Naira price. If they want to pay in crypto, they’ll see the USD equivalent. It’s seamless,” he explains.
The buying process is designed to be quick and secure. Customers browse the storefront, add items to their cart, and then choose between crypto or Naira at checkout. Once they select, they’re redirected to a page showing payment details. “Those details are timed,” Agbaje notes. “Right now it’s set for about 10 to 15 minutes. That way, the payment link is one-time only - either you complete it immediately or you initiate the process again. It keeps things safe and efficient.”
Both the vendor and the buyer receive instant confirmation of a successful payment, after which the vendor can go ahead and fulfill the order.
But Agbaje stresses that Midupay doesn’t stop at payments. “On the vendor dashboard, you also get access to AI-powered insights - media monitoring, customer sentiment analysis, competitor benchmarks. It’s not just about selling; it’s about helping businesses make smarter decisions.”
In short, Midupay takes care of everything from storefront setup to payments and insights - an end-to-end platform designed to let Nigerian businesses focus less on the tech and more on growth.
Revenue comes from two streams: a 1% transaction fee and a Pro Plan that allows businesses to customize their store with a personalized domain name, more AI interactions, and enhanced features. This approach ensures both accessibility for smaller businesses and scalability for those seeking a more robust platform.
Standing out in a crowded space
The digital payments space in Nigeria has a plethora of competitors, but Midupay differentiates itself through cross-border crypto payments and AI-driven insights.
“Some of our competitors, like Bumpa, help vendors list products online—but most don’t even handle payments,” he explains. “And for the few that do, they’re usually limited to local transactions. None of them are enabling cross-border payments the way we are.”
That global-first approach is just one part of Midupay’s edge. The other is intelligence.
“On our storefronts, customers can leave reviews, and our AI doesn’t just store them - it scans through them,” Agbaje says. “It analyzes customer sentiment, product descriptions, inventory, and even how people are talking about your brand publicly. Then it translates all of that into practical insights and advice.”
“Our AI doesn’t just provide data - it guides strategic decisions.”
Early traction and future plans
Though still in its early stages, Midupay has already onboarded over 20 businesses and hosts 100+ products. While operations are primarily focused in Nigeria, the platform is designed with Africa-wide expansion in mind.
Future plans include creating a marketplace for vendors, enabling them to reach more customers, and a buy-online-pickup-in-store model, partnering with retail outlets like ShopRite to make products accessible offline while maintaining online payment flexibility.
Crypto as a tool for financial inclusion
Nigeria has long been a hub for cryptocurrency adoption, despite previous regulatory uncertainties. With recent legalization and regulation, Agbaje sees enormous potential for crypto to enable financial inclusion.
Global payment giants often exclude African countries due to documentation requirements or country restrictions. By leveraging decentralized currencies like Bitcoin, Ethereum, and stablecoins such as USDC, Midupay empowers entrepreneurs to accept global payments and expand their reach, bridging the gap between local businesses and international customers.
Lessons from the frontlines of entrepreneurship
For Agbaje, the journey has been as much about personal growth as business innovation. The first lesson: just start. Ideas alone aren’t enough; execution is key. The second: build a team. While he initially handled every aspect of Midupay alone - from coding to content creation - he quickly realized that scaling requires delegating and trusting others.
He offers this advice to aspiring entrepreneurs: “Start, even if you’re not fully ready. Build a support system, and don’t try to do everything yourself. Focus on solving real problems.”
A vision for the future
By combining crypto payments, AI insights, and accessible online storefronts, Midupay is helping Nigerian SMEs transcend borders and scale globally. With plans to expand across Africa and integrate offline retail solutions, the startup is poised to redefine how African businesses connect with the world.