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The car has been won. The invoice is ready. Then the payment becomes the problem.
For Nigerian car dealers and importers buying vehicles from Canada and the United States, winning an auction is only one part of the process. The next challenge is paying the auction platform or dealership directly within the required time.
This can involve finding Canadian dollars or USD, confirming beneficiary details, working with different intermediaries and providing the documents needed to complete the transaction. Any delay can affect the purchase and create additional costs for the buyer or importer.
Nefer Remittance provides a more organised way to manage these payments.
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The cross-border payment platform supports eligible payments to Copart, IAAI, Manheim and other major car dealerships. Users can fund their transactions in naira and provide the invoice, beneficiary information and other documents required to process the payment and get to make the payment in Canadian dollars or USD right from the application.
More importantly these payments will meet the required guidelines laid out by the auction and ensure the Sender name matches the dealer’s name as expected.
A payment process built around the transaction
Vehicle auction payments are tied to specific invoices, buyers and deadlines. Nefer brings the currency exchange, beneficiary information and supporting documents together in one process.
Before a payment is confirmed, the invoice and beneficiary details are reviewed. This reduces the need to move between several platforms or depend on informal payment arrangements.
The service is available to individual buyers, car dealers and vehicle importers completing properly documented transactions with supported auction platforms and dealerships.
Nefer does not operate as a vehicle auction company, dealership or shipping provider. It provides the financial infrastructure through which eligible vehicle payments can be processed.
About Nefer
Nefer Remittance is a global financial technology company that lets you send, receive, and manage money across different countries, and make supported payments for school fees, vehicle purchases, car auctions, shipments and other personal or business needs all from one account.
Nefer Remittance Limited is registered with the Bank of Canada as a Payment Service Provider and with FINTRAC as a Money Services Business. The company has processed more than C$100 million in transactions and continues to develop financial tools for people and businesses with payment needs across borders.
The Nefer app is available on the Apple App Store and Google Play Store.
