Industry News

GLO SUPPORTS GOVERNMENT’S CASHLESS PAYMENT SOLUTION, MCASH

Nigeria’s next generation telecommunications company, Globacom, has pledged full support to the Federal Government’s new electronic payment initiative, mCash. mCash is a payment system that allows sellers or merchants to collect money for their goods and services from buyers electronically, using telecommunications infrastructure and mobile devices. The initiative, midwifed by the Nigerian Inter-Bank Settlement System […]
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DIGITAL FINANCIAL SERVICES CAN CREATE THREE MILLION JOBS BY 2025

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has said that increased adoption of Digital Financial Services (DFS) in Nigeria has the potential to create three million new jobs in Nigeria by 2025. Also, for financial services providers, Emefiele said DFS has been estimated to reduce the cost of providing financial services by […]
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CBN, CeBIH assess technology’s impact on payment

The Deputy Governor, Operations, Central Bank of Nigeria, Mr. Adebayo Adelabu, and the Chairman of First Bank Nigeria Limited, Mrs.  Ibukun Awosika, will lead banking and electronic payments executives to examine the impact of disruptive technology and future of payment at the 2016 annual retreat of the Committee of Electronic Banking Industry Heads. The theme […]
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UNION BANK AND RIA MONEY TRANSFER PARTNER TO OFFER REMITTANCE PAY-OUT SERVICES

Union Bank, Nigeria’s leading innovative financial institution has partnered with Ria Money Transfer (“Ria”), one of the largest money transfer companies in the world, to offer money transfer pay-out services across Nigeria.   The new agreement allows Union Bank customers to receive remittances in local currency at Union Bank payout locations which includes its branches […]
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Instant fund transfer tops e-payment transactions with N22.6trn in 8 months

Instant electronic fund transfer, otherwise known as instant payments (NIPs), seems to be the darling of Nigerians when it comes to alternative cash payments in the country as about N22.6trillion passed through the platform in eight months. Industry figures obtained from the Central Bank of Nigeria (CBN), from January to August 2016, show that Point […]
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Mastercard Makes Commerce More Conversational with Launch of Chatbots for Banks and Merchants

Chatbots to Provide Partners with New Ways to Engage and Deliver Compelling, Personalized Experiences to Consumers; Mastercard Bot for Banks will be First Available on Facebook Messenger Mastercard announced its plans to launch artificial intelligence (AI) bots that allow consumers to transact, manage finances, and shop via messaging platforms. According to research firm Gartner, nearly […]
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