Access Bank partners with AfriGOpay to boost Nigeria’s payment ecosystem

In a bid to strengthen Nigeria’s financial ecosystem, Access Bank has partnered with AfriGOpay, a financial services business affiliated with the Nigeria Inter-Bank Settlement System (NIBSS) to launch the first Nigerian national domestic card designed to meet the needs of the Nigerian payment industry.

The scheme championed by the Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement System (NIBSS) will provide innovative solutions to users of financial services in Nigeria, Africa, and across the global markets.

Speaking on the partnership, Victor Etuokwu, Deputy Managing Director, Retail Banking, Access Bank said, “It is with excitement that we announce that Access Bank, Nigeria’s largest retail bank with over 60million customers is the first financial institution in Nigeria to successfully issue the first live card of the Nigeria’s National card scheme- AfriGO.

The launch of AfriGO is another milestone in the development of a vibrant and rapidly expanding payments industry. Consumers demand value in real time, not just transactions. With AfriGO, we can provide valuable card benefits, robust loyalty rewards, and a compelling incentive to utilize electronic payments rather than cash.

The AfriGO Card has additional benefits because it is designed to facilitate the growth of Nigeria’s payment ecosystem, thereby supporting more tailored payment services. It will strengthen payment security, expand financial participation, guarantee data sovereignty, eliminate FX dependency, and provide Nigerians with several other benefits. Cardholders will enjoy increased affordability and more flexible payment options”, Victor concluded.

Speaking on the product launch, Robert Giles, Senior Retail Advisor, Access Bank said, “The National card scheme operates locally, and it is tailored to the specific needs of the country. We have also recorded successful purchases on POS and ATMs which began on March 14, 2023.  Domestic ownership of a local card scheme eliminates demand on foreign exchange and reduces cost of transacting.  It will also help us partner with local fintechs and payment companies to build solutions on the AfriGO scheme that solve customers’ pain points.

This comes at a crucial time for the national payments’ infrastructure where demand for convenient alternatives to cash is at a peak. We believe that the AfriGO scheme is a new building block that will support continued progress in the payments system, building on Nigeria’s position as the 6th most developed real-time payments market in the world.

According to Premier Oiwoh, the MD/CEO of NIBSS, “The payments landscape in Nigeria has continued to evolve via seamless and convenient real-time electronic payment solutions driven by innovation and advancement in technology. The launch of our national domestic card scheme AfriGO is very timely; AfriGO will drive our financial inclusion goals amongst many benefits, and we are thrilled that Access Bank is the first bank in Nigeria to issue AfriGO cards to its customers.  Access Bank has demonstrated the much-needed commitment to enhancing financial inclusion, and we urge other financial institutions to commence issuing AfriGO for more accessible and convenient payments for all Nigerians, regardless of their location or financial status.”

Aminu Maida, Executive Director, NIBSS, added, ” With technological advancements, there are more options for payments and the recently launched national domestic card scheme, AfriGO gives us assured comfort on all financial transactions. We are excited that Access Bank is the first to key into our belief of AfriGO’s immense value to the Nigerian financial ecosystem.

The post Access Bank partners with AfriGOpay to boost Nigeria’s payment ecosystem appeared first on Information Nigeria.



from Information Nigeria https://ift.tt/5ned0VT
via IFTTT

Comments

Post a Comment

Popular posts from this blog

Inter Miami Officially Sign Argentina Forward, Messi Until 2025

Image
Argentina forward Lionel Messi has signed for American MLS side Inter Miami on a deal that runs until 2025. The seven-time Ballon d’Or winner, 36, left French champions Paris St-Germain at the end of the 2022-23 season. “I’m very excited to start this next step in my career with Inter Miami and in the United States,” said Messi, who led his country as they won the World Cup in Qatar last year. It was gathered that Inter Miami co-owner David Beckham said the signing was a “dream come true”. Messi, who has not played for a club side outside Europe, added: “This is a fantastic opportunity and together we will continue to build this beautiful project. “The idea is to work together to achieve the objectives we set and I’m very eager to start helping here in my new home.” On securing the services of a player expected to win another Ballon d’Or this year, Beckham said: “10 years ago, when I started my journey to build a new team in Miami, I said that I dreamed of bringing the gre
Read more

Davido Celebrates Stonebwoy’s Wife, Dr Louisa For Delicious Meal She Served Him

Image
Afrobeat musician Davido has thanked Ghanaian musician Stonebwoy’s wife on Twitter for serving him a delicious meal. Davido has sparked mixed reactions online after he took to his X page to disclose that he is still full with the fufu and light soup the wife of Stonebwoy, Dr. Louisa prepared for him two days ago. READ MORE: Emefiele Fails To Meet N300m Bail Condition, To Remain In Prison As Court Adjourns Case Till January Davido tweeted, “I’m still full from the fufu n light soup wey we chop for @stonebwoy house two days ago …. @drlouisa_s God bless u my sister …. Love you guys !! 🇬🇭🇳🇬❤️”. This post from Davido has attracted mixed reactions from social media users. @ Killer:  “ Hilda bacci can’t do this kind of food for you 🤣🤣”. @ Blackcode:  “ Damn Davido, you’re making us drool with that fufu n light soup feast! Ghana-Nigeria culinary collab, representing the love and unity between our nations. Can’t wait to try it myself!” @ Ktoons  commented, “ Nigerians should com
Read more

Court Order: Nobody Can Remove Me As Ebonyi Governor, Says Umahi

Image
Umahi Governor of Ebonyi Dave Umahi says the court order to remove him from office is “null and void.” A federal high court in Abuja ordered Umahi and his deputy, Eric Igwe, to be fired for defecting from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) on Tuesday (APC). Umahi called the decision a “sham” and accused the presiding judge, Inyang Ekwo, of executing a “hatchet job.” “Nobody can remove me as the governor of the state as we know where the judgement came from,” NAN quoted him as saying. “Justice Ekwo has more than 10 cases against the state government and we will see where this leads him. Also Read:  Court Sacks Governor Umahi, Deputy Over Defection To APC “We have petitioned Ekwo before the National Judicial Council (NJC) as his continued stay on the bench is a disaster for the country. People should not panic as I, the governor, am not distracted at all. “The constitution stipulates that the only way a governor can be removed from office
Read more