Itohowo Udofia, driven by a vision to simplify payments in Nigeria to the ease of tapping a phone on the London Underground, is at the forefront of DingPay. This core idea has propelled the young fintech startup to gain early momentum, attract investor attention, and cultivate a growing user base.
Udofia's journey to founding DingPay stemmed from personal frustration. After experiencing the seamless convenience of Apple Pay during his studies in the UK, where his phone managed everything from transportation to purchases, his return to Lagos highlighted a stark contrast.
The inconvenience of waiting an hour in a supermarket queue for a bank transfer to clear, coupled with the necessity of carrying multiple bank cards due to inconsistent reliability, felt archaic. This friction became the fundamental problem DingPay aimed to solve.
"I want DingPay to be what Apple Pay is to me in the UK," Udofia stated during an interview. "I want to be able to go out, and the only thing I have is my phone." This clear objective has guided every product decision since the company's inception.
Early Traction and a Surprising Use Case
DingPay was quietly launched in early 2025, allowing the team to test the technology in a controlled environment. Udofia and his co-founder, engineer Josteve Adekanbi, initially focused on event ticketing at their alma mater, Bowen University, for a beta test.
The platform saw rapid adoption among students, with over 4,000 users signing up by the end of the trial period. Following this success, DingPay was utilized for wedding ticketing and payments, providing the team with further opportunities to test the core wallet functionality, enhance customer support, and observe the system's performance under load.
During these early stages, DingPay processed over 10 million naira. The company currently boasts approximately 5,000 users, a figure Udofia considers validation that "beyond the little we've done, the world understands the product." While Udofia remains cautious about definitive product-market fit, the positive reception from judges at Verto's 2025 Entrepreneur of the Year Awards, where DingPay emerged victorious, indicates a strong resonance with the concept.
Building an Ecosystem, Not Waging a Payment War
Nigeria's fintech sector is highly competitive, prompting any new entrant to justify its timing. Udofia's strategy is characterized by a modest approach, expressing no desire to displace existing major players.
"We don't want to compete," Udofia explained. "We just want to complement." This philosophy translates into a focus on partnerships with leading financial institutions in the region. DingPay aims to function as a wallet layer that integrates with existing payment infrastructure rather than operating as a standalone challenger bank.
This strategy aligns with a significant trend in African fintech, where the market has matured. Investors are now prioritizing products that demonstrate integration and interoperability over those seeking to disrupt established systems. DingPay's value proposition centers on simplicity: a user-friendly interface, a wallet capable of both online and offline transactions, and a reliable payment layer for daily use.
The offline functionality of DingPay's wallet is a particularly noteworthy feature. It allows for the storage of assets and processing of payments even without an active internet connection, and merchants will also benefit from offline capabilities. While Udofia has not disclosed the technical specifics, the successful implementation of this feature at scale could address one of the most persistent obstacles to digital payment adoption in Nigeria.
DingPay's Next Steps
The African fintech landscape is currently navigating a challenging phase marked by tighter capital availability and increased scrutiny of valuations. Many startups are facing critical questions regarding their sustainability and market reach.
DingPay's narrative is significant because it addresses a tangible, everyday problem faced by millions of Nigerians. The company is not aiming to create another "super app" but rather to alleviate the daily payment frustrations encountered at points of sale, events, and transportation hubs. This focused approach, combined with a strategic willingness to collaborate rather than replicate existing infrastructure, positions DingPay with a clearer trajectory compared to many of its competitors.
Furthermore, Udofia's open communication about feedback, past pitching errors, and the process of refining his narrative reflects a shift among a new generation of founders. His dedication to iterating on the product and improving its presentation distinguishes DingPay in a market where confidence can sometimes precede practical execution.
Looking ahead, DingPay plans a major launch in 2026, incorporating integrations with Apple Pay, Google Pay, and stablecoins. Subsequent fundraising efforts will follow this launch.