SQUAD
“Can GTCO's fintech arm become the default payments platform for African businesses across cards, transfers, USSD and POS?”
Founded2022
HQLagos, Nigeria
IndustryFintech / Payments
The story
Squad is the payment-solutions brand of HabariPay Limited, a subsidiary of Nigerian financial group GTCO. It offers merchant-facing acceptance (payment gateway, virtual accounts, USSD, POS, payment links, transfer API, direct debit) for Nigerian and broader African businesses. It is not a standalone startup — it operates under the regulatory umbrella of GTCO/GTBank and is licensed by the Central Bank of Nigeria.
Last 12 months
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Product timeline
2022
Squad launched as a payment product of HabariPay Limited, a subsidiary of Guaranty Trust Holding Company (GTCO).· banking
Regulated entities
1
regulatory licence held by SQUAD
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in SQUAD’s embedded-finance stack
Payments / PSP
Squad Payment Gateway (self-operated)InterSwitch
Banking / BaaS
in the full report
Card network
in the full report
Sponsor bank
in the full report
Accounting
in the full report
Accounting gap: significant
4 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.