Industry News

Bank’s e-transactions hit N34tn in Q1

A total volume of 557,083,712 transactions valued at N34.02tn were recorded in Q1 2019 as data on Electronic Payment Channels in the Nigeria’s banking sector. The National Bureau of Statistics disclosed this in a report on Selected banking sector data: Sectorial breakdown of credit, ePayment channels and staff strength. NIBSS Instant Payments transactions dominated the volume […]
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Beyond Mobile Payments: Going up The Value Chain of Fintech in Africa

Amadou Sy Sub-Saharan Africa has become the global leader in mobile money adoption, usage, and innovation. The challenge now is to go beyond the success in payments to meet the unmet demand in the region for other, underdeveloped financial services that can facilitate the digitalization of other segments of the economy. In a new report, my colleagues […]
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Payments System Vision 2030: CBN Begins Implementation

The Central Bank of Nigeria (CBN) has started the implementation process of Payment System Vision 2030 strategy, which will define the strategic agenda for the Nigerian Payments System over the next ten years. The new Payments System is coming just one year after the introduction of Payment System Vision (PSV) 2020. The information is contained in an official […]
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CeBIH will expedite financial inclusion leveraging digital -Stanley

Committee of E-Business Industry Heads (CeBIH) will promote digital solutions targeted at the bottom of the pyramid in a bid to expedite access to financial services across the country. Newly elected Chairman CeBIH, Mr. Stanley Jacob stated this in his acceptance speech at the election of new executives held in Lagos at the Keystone Bank headquarters. Stanley, who is also the […]
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SimbaPay Launches Pan-Africa Remittances Chatbot in Collaboration with Interswitch

SimbaPay – a London based digital money transfer provider – has announced the launch of an AI (Artificial Intelligence) powered chatbot service which now makes International Money Transfer (remittance) possible with only an SMS. The SimbaPay chatbot will also enable 24/7 instant customer service for its customers across Africa and Europe. “We’re thrilled at the […]
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Mastercard Announces Roadmap for Contactless Payments Consistency

Mastercard has announced an initiative to create greater payment consistency by making “tap and go” standard in the next five years. The changes underway ensure that consumers, merchants and governments around the world will be able to take advantage of next-generation digital technology which deliver greater security and convenience. Beginning later this year, Mastercard will require […]
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Zenith Bank Partners Facebook and Mastercard to Pioneer QR Payments on Facebook Messenger

Zenith Bank has confirmed that it is in a strategic partnership with Facebook and Twitter to launch a Masterpass QR bot for Facebook messenger, that will enable Nigerian businesses set up digital accounts and accept QR payments. QR Payments (Quick Response Payments) will allow individuals and small business make and receive payments in real time […]
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