UK-based software and payments technology company Epos Now has forayed into Africa with the launch of its cloud-based point of sale (POS) solution in Nigeria.

The move builds on the firm’s global expansion last year into New Zealand, Australia, Ireland, Spain Latin America and Canada.

Epos Now said that the Nigeria entry marks the next phase in its internationalisation strategy, which aims to expand its SaaS solution into developing economies globally.

The firm added that it selected Nigeria as a launchpad for its entry into Africa owing to its status as a rapidly evolving market for fintech and payment technology.

Epos Now vice-president of Strategic Partnerships EMEA Ryan Heaphy said: “Nigeria is one of the fastest-growing markets for point of sale and payments technology, and our products and services are well-placed to meet the demand for advanced, affordable cloud POS solutions.

“With the right partnership in place, we look forward to helping thriving SMBs leverage the latest cloud technology to run their operations more efficiently and reach new customers.”

Epos Now has tapped Epos Solutions Nigeria, a point of sale technology firm in the country, to support its expansion.

With Epos Now’s system, small and medium-sized businesses (SMBs) can open new digital revenue streams. It will also enable them to connect to a global customer base and serve shifting consumer habits.

In addition, the POS system will allow Nigerian merchants to manage their online and physical operations from a single system.

In October last year, Epos Now rolled out its cloud-based POS system in Mexico.