Bankit Microfinance Bank has officially transitioned to WayvePay, marking a significant milestone in its mission to build a smarter, faster, and more secure digital banking and payments platform for Nigerians. The rebranding, effective from September 18, 2026, represents more than a change of name and visual identity; it signifies the evolution of the bank's digital banking proposition and its broader ambition to deliver innovative financial services tailored to the needs of individuals, entrepreneurs, and businesses in Nigeria's growing digital economy.
Operating under its new positioning, “WayvePay — Banking & Beyond,” the platform builds on the foundation established by Bankit while introducing enhanced technology, improved functionality, and additional channels for everyday banking, payments, savings, and money management.
Leadership Unveils Vision Behind the Transition
Speaking on the transition, the Head of Corporate Communications and Marketing, Kingsley Ezenwa, emphasized that the new identity reflects the bank's ambition to create a more comprehensive 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.”
The rebranding comes with a broader range of financial services designed around the everyday needs of Nigerians. Customers can expect attractive savings options aimed at encouraging consistent saving habits, alongside convenient transfers, digital payments, cards, and business banking services.
Enhanced Features and AI-Powered Security
WayvePay is enhancing its transaction experience to make transfers, payments, and card usage faster and smoother. Improvements to the mobile application, including multiple theme options, in-app banners, and notifications, are set to provide a more personalized and engaging digital banking experience.
Technology and security remain central to the WayvePay proposition. The bank is introducing AI-powered customer support to provide faster assistance with common banking enquiries, onboarding challenges, and routine transaction issues, with more complex or sensitive matters escalated to authorized support personnel. Additionally, WayvePay is deploying AI-enhanced security and intelligent monitoring capabilities designed to identify unusual transaction patterns and potentially suspicious activities, complementing existing security processes and helping authorized teams respond more efficiently to potential risks.
Expanding Access Through USSD and Business Solutions
Beyond the mobile application, WayvePay is expanding access to banking services through its dedicated USSD banking channel, 347271#. This service provides customers with an additional way to access essential banking services without relying entirely on an internet connection or smartphone application. The channel is designed to support financial inclusion by serving customers with limited internet connectivity, restricted mobile data, or a preference for USSD banking, making digital financial services accessible across different customer segments and locations.
For entrepreneurs and small businesses, WayvePay aims to provide digital financial solutions covering payments, transfers, savings, cards, and business banking. As Nigeria's digital economy continues to expand, the platform intends to keep investing in artificial intelligence, digital payments, financial security, customer experience, and innovative financial products.
The transition officially takes effect from September 18, 2026, marking the beginning of a new chapter for the platform and its customers. While customers will experience a new name, identity, and enhanced digital banking experience, WayvePay emphasizes that the transition builds on the foundation created by Bankit and retains its commitment to accessible, secure, and convenient financial services. With smarter technology, attractive savings options, faster transactions, enhanced security, AI-powered support, and multiple channels of access, WayvePay is positioning itself for the next phase of growth in Nigeria's digital financial services sector.
