CeBIH: Collaboration key to Fighting e-Payment Fraud

The Committee of e-Business Industry Heads (CeBIH) has identified collaboration as a vital necessity to tackling electronic payment fraud in the country. It, therefore, expressed its readiness to collaborate with private and public sector agencies to tackle the menace. The Chairman of CeBIH, Celestina Appeal, who stated this at a conference organised by the group […]

CeBIH Moves to Combat Fraud in Electronic Payment

The Committee of e-Business Industry Heads (CeBIH) has stated its readiness to collaborate with Private and Public Sector Agencies to tackle electronic payment fraud in Nigeria. The Chairman of CeBIH, Celestina Appeal, who stated this at a recent conference of the CeBIH, which held in Lagos, said the fight against electronic payment fraud, remained the […]

CeBIH Gets Female Chairperson

The Committee of e-Business Industry Heads (CeBIH) has elected Celestina Appeal, the head of Cards Business at Zenith Bank as its new Chairman, alongside other new exco members, who will run its affairs in the next one year. Speaking at the event, the immediate past Chairman of CeBIH, Adeyemi Atanda, commented that although a lot […]

Payment Innovations and Trends – CeBIH 2021 Annual Retreat

The Annual retreat of the Committee of E-Business Industry Heads (CeBIH) was held at Abeokuta on Dec 2nd and 3rd, 2021. Sponsored by Flutterwave, the Banks, and many other fintech companies, the Retreat focused on Payment innovations and the trends to expect in the coming year with participants coming from all sectors of e-business processes. The […]

PSBs critical to financial inclusion drive, says 9PSB CEO

The Chief Executive Officer of 9PSB, Branka Mracajac, has stressed the importance of Payment Service Banks (PSBs) in supporting the country’s financial inclusion drive. She declared that PSBs offer last mile delivery of financial solutions to the unbanked, under-banked and underserved who in most cases are neglected due to geographical and infrastructural barriers. Mracajac made this […]

Interswitch supports digital financial service innovation

Africa’s leading integrated payments and digital commerce company, Interswitch, has been confirmed as a sponsor of the 2021 Annual Committee of e-Business Industry Heads (CeBIH) Retreat for the fifth consecutive year. The digital payment company has been an ardent supporter of the Committee and its objectives, underpinned by a shared objective of enabling further development […]

The disruptive trends & companies transforming digital banking services in 2021

“Digital banking” emerged with heightened consumer demands for more efficient ways to access banking records and complete financial transactions outside of local branches. Digital banking is the digitization of every level, from front- to back-end, of banking. Do you work in the Financial Services industry? Get business insights on the latest tech innovations, market trends, […]

Half of global population will use digital banking by 2026, says report

With an increase in digital transformation efforts that banks adopted after disruption by the Covid-19 pandemic, there has been a significant growth in the number of users opting for digital banking. The study has analysed 30 leading Tier 1 banks on their innovation in terms of digital features, investment and innovation. (Representational Image)With an increase […]

Global Digital Banking Market to Reach $30.1 Billion by 2026

SAN FRANCISCO, July 13, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Digital Banking – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace. Global Digital Banking Market […]

Nigeria’s new Open Banking rules will see banks sharing data with fintechs

Open banking is one of the most important regulations to come to banking in the last decade and in Nigeria, it will be a gamechanger. It’s crazy the amount of information banks have about us. When you want to open a bank account, the bank collects your address, tax ID information, utility bills, and your […]

Global Digital Banking Platform Market to Surpass $10 Billion by 2027: Report

The global digital banking platform industry reportedly managed to generate $3.95 billion in revenue last year. It’s expected to reach $10.87 billion by 2027, which means it’s projected to expand at a compounded annual growth rate (CAGR) of 13.6% from 2020 to 2027. This, according to a new report from Allied Market Research, which was […]

The Future of ATMs in Banking

It’s been a tough year for the ATM industry. The core function of these automated tellers has always been cash dispensing. But when cash suddenly becomes an alleged pandemic “disease vector” thanks to widely circulated, but mistaken, reports of a World Health Organization statement, it caused the ATM industry great angst, coming on top of […]

How COVID-19 Has Changed Payments & Banking Behaviors Forever

Clearly COVID-19 impacted consumer behavior globally as many consumers were forced to work from home, financial institutions closed lobbies and people worried about everything touched by others. The question has been whether initial changes in activities would become fundamental behavioral shifts once the pandemic ended. With people beginning to settle into what their “new normal” […]

Retail Banking Without Branches: 7 Critical Elements of the New Reality

In the blink of an eye the world of retail banking has changed. Traditional branch banking, long a pillar of the sales strategy for financial institutions, has all but disappeared. Furthermore, consumer habits and behavior have permanently changed. When the current health crisis is finally behind us, we will not be returning to the high-touch […]

How the COVID-19 crisis may affect electronic payments in Africa

The COVID-19 pandemic is a global health crisis and a global humanitarian blight. In Africa, thousands of lives have been lost, and our initial estimates suggest that one-third of the working population could either lose their jobs or have their salaries reduced as the lockdowns, curfews, border closures, and shutdowns continue. A level of disruption is […]

Financial Inclusion Does not only mean Walking into a Bank or Using a Phone to Make Transactions – NDIC

The managing director and CEO of Nigeria Deposit Insurance Corporation [NDIC] Alhaji Umar Ibrahim said that the Central Bank of Nigeria [CBN] financial inclusion strategy is more than having engagements with the bank. Ibrahim said, “Financial inclusion does not only mean walking into a bank or using a phone to make transaction, but also allowing the citizen […]

Instant bank transfers rise to N41.48tn in five months

The value of transactions via the Nigeria Interbank Settlement System Instant payment system rose to N41.48tn in five months of this year as banks, fintechs and telecommunications companies intensify efforts to deepen financial inclusion. This is a 36 per cent increase in the value on the transactions compared with N30.448tn transactions in the first five months […]

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 […]

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 […]

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 […]

2018 Newsletter

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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 […]

Biometric Payment Cards- Where are we Now

Biometric smart cards are emerging as the next innovation in payment cards. According to ABI Research the payment card is here to stay and fingerprint authentication within the card is the next natural evolution to retain convenience while increasing security. So, let’s take a look at the potential and status of the technology to understand why 2018 […]

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 […]

What you need to know about wire transfers

When you need to send or receive money fast, a wire transfer might be the right tool for the job. Wire transfers are immediate, reliable, and safe, according to For significant transactions — like buying a home — wire transfers or cashier’s cheques might be your only options. Why? The short answer is that the […]

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 […]

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 […]

Mastercard Payment Transaction Services Launches Tokenization on WAY4

Mastercard Payment Transaction Services S.A. (MPTS), a European processor, rolls out a new digital payment solution that leverages Mastercard Digital Enablement Service (MDES) tokenization for secure payment card provisioning on mobile devices. The solution allows Mastercard Issuers to easily deploy the latest mobile pay schemes including Apple Pay, Android Pay, Samsung Pay as well as […]

Eight rules for safe digital banking

Since payment alternatives such as Unified Payment Interface, e-wallets and USSD-based mobile banking through different platforms are directly or indirectly linked to the user’s bank account, one needs to be extra careful to keep hackers at bay, according to the Chief Executive Officer of BankBazaar, Adhil Shetty. Several countries of the world have seen a […]

Online Card Payments Set to More Than Double by 2022

Research from RBR finds that increasing internet access, smartphone penetration and security are driving rapid growth in e-commerce card payments worldwide Online transactions increasingly convenient as mobile facilitates impulse buys The number of card payments made online worldwide is set to jump from 29 billion in 2016 to 70 billion in 2022, according to Global […]