Banking
Airopay Launches in Nigeria, Offers 16% Interest on Savings
By Adedapo Adesanya
Airopay has delved into the digital payments business in Nigeria to ensure that cashless payments are efficient since customers get frustrated and stranded at various pay points.
As a payment infrastructure solution, Airopay allows its users, both individuals and businesses in Africa and around the world, to transact locally and internationally from the comfort of their mobile devices.
It was designed as a one-stop app to enable payments for users when at home or abroad as it provides users the ability to directly pay bills in Nigeria, make transfers and also receive cash regardless of their geographical locations at super fast speed all from a mobile phone.
Speaking on the app, Airopay Chief Executive Officer, Mr CharlesJohn Oyakhilome, shared that the whole idea of the app is to digitize payments in Africa and beyond. “The ultimate goal of the brand is to make mobile payments across borders very easy’’, he said.
The Director of Strategy and Business Growth, Mr Kelechi Mbah, stated that Airopay has many unique services to offer in the Fintech space as we are set to ensure a life made easy. While it may look like the market is saturated, there are still many gaps which Airopay has carefully designed its services to fill.
Also, the Airopay App is set to give the general public a unique experience of ease and swiftness for both international and local fund transfers with zero per cent downtime!
Furthermore, the platform will provide economic empowerment for entrepreneurs, merchants and retailers.
Mr Adedayo Johnson, the Chief Financial Officer said, “Our users will enjoy an unbeatable interest rate of 16 per cent on savings, access to loans within 24 hours and bill payment transactions, different from what the general public has experienced.”
First crafted in 2014, Airopay systems have been developed to include several layers of transaction security for a users’ peace of mind.
Furthermore, the app is designed with Azure security centers which aid with detecting and blocking cyber security threats. The framework is secure from XML external entity injection also known as XXE as attackers cannot interfere with the application’s processing.
The Airopay brand officially launched into the Nigeria market on November 24, 2020, having recently signed Richard Mofe-Damijo (RMD) as the brand ambassador. The launch generated awareness and rightly positioned the Airopay app as a platform known for speed, ease, convenience and trust.
Users will be able to easily fund, withdraw, save, transfer money and pay for goods and services (locally or internationally) with their mobile devices.
Airopay Mobile Money accommodates deposits and withdrawals, including cardless ATM withdrawals, transfer between accounts, domestic remittances, third party or non-registered user deposits to accounts, payment of utility bills (including water, electricity, PayTV ), purchase of flight tickets for local and international flights, international and local airtime top up, payment of tuition for 100+ educational institutions, international and local fund transfers, bill payments for betting, lottery and games at zero per cent downtime.
Other services offered include termination of international remittances to wallet, QR code supported retail and merchant payments and registration of any payment card on the end-user application for recharge and QR code supported retail payment systems.
By Modupe Gbadeyanka
The chief executive of TeamApt Limited, Mr Dennis Ajalie, has called for a robust collaboration in the digital payments ecosystem, saying banks and fintech companies should not see themselves as rivals.
Mr Ajalie said the industry’s regulator, the Central Bank of Nigeria (CBN), has delineated what each entity should do and how they should function in creating a successful payment ecosystem that protects consumers and enables businesses, which he admitted to be complementary and not competitive.
Touching on the imperative of borderless transactions and the solutions for implementation concerning the framework, he said, “Borderless transactions have to happen because we’re becoming more interconnected by the day and by the minute.”
“We still have a lot of siloed implementations among key stakeholders and unless we recalibrate our systems, borderless remains beyond our reach and a mirage,” Mr Ajalie stated at the Committee of e-Business Industry Heads (CeBIH) conference in Lagos themed Payment System Vision 2030: Navigating Contemporary Issues in Driving Future Growth.
“There’s the fierce urgency of now that demands that we find solid ways to interconnect, and once we’re able to interconnect within ourselves, reconcile properly, especially on the local front, then we can present a single, unified front that will enable us to push transactions and receive transactions from outside.
“We cannot go forward without fixing these internal challenges,” he added at the event, where he was one of the panellists.
TeamApt, a subsidiary of Moniepoint Incorporated, facilitates payment processing across many industries while enabling reliable payments for banks and their customers while reducing operating costs.
Wrapping up his thoughts, the TeamApt boss reiterated the need for industry-wide collaborations in fighting the menace of fraud.
“If we are able to all share information and collaborate seamlessly, we’ll find out that it becomes disinteresting for these bad faith individuals to use the collective technology commonwealth that we have all built to commit nefarious activities.
“So, it goes back to collaboration among fintechs, the banks, NFIU, infrastructure providers, the telcos, and switches. We’ve all got to come together to say, enough is enough and that this present situation threatens all of us rather than just one of us,” he added.
By Modupe Gbadeyanka
An innovative web banking platform to provide customers with an additional digital channel to manage and carry out uninterrupted daily transactions on their phones, laptops and other devices has been introduced by Bankit Microfinance Bank (MFB).
The emerging small financial institution said it came up with this platform to break barriers and empower individuals and businesses to manage their finances with confidence.
With this, Bankit MFB is redefining convenience and security in banking, ensuring uninterrupted access to financial services, time-saving functionalities, efficiency, real-time account updates, 24/7 availability, and faster transactions.
“In today’s fast-paced digital age, connectivity is everything in banking, and for us, it’s all about improving customer experience with simple banking options and empowering our teeming customers to live their best lives.
“We are revolutionizing the Fintech landscape in Nigeria, and we have developed this solution to empower our customers to bank securely, anytime, anywhere, conveniently.
“We are committed to leveraging technology to enhance the banking experience for all our customers,” the chief executive of Bankit Africa, Mr Yen Choi, stated.
“Bankit’s web banking platform reaffirms one of the bank’s core values – Innovation and sets a new standard for accessibility and security in the banking industry.
“As part of our ongoing commitment to excellence, Bankit Africa will continue to evolve its offerings to meet and exceed the needs of its rising customer base.
“Some key features of this web banking platform include: a simple way to send money, buy airtime, and pay bills with no extra fees or hidden charges,” he added.
Bankit MFB is a licensed financial institution dedicated to providing innovative, customer-centric financial solutions to individuals, businesses, and communities in Nigeria, with a focus on simplicity, convenience, and security.
By Dipo Olowookere
Banking operations at the branches of most financial institutions in Nigeria will end earlier than expected today, Tuesday, December 31, 2024.
The majority of them have sent messages to their customers to inform them of this development.
Business Post sighted some of these notices sent by the banks to their customers via electronic mails (e-mails).
One of them from Guaranty Trust Bank (GTBank) Limited said transactions at its Lagos branches will close for the day and year by 3 pm while in other branches at 2 pm, encouraging customers to use its digital channels for their financial transactions.
“We would like to inform you that all our branches nationwide will close to customers early on Tuesday, December 31, 2024.
“During this period, we encourage you to take advantage of our digital channels for banking needs,” the notice read in parts.
On its part, United Bank for Africa (UBA) Plc said its branches would close for the day at 2 pm across the nation.
“As we prepare for the New Year celebration, our branches will close by 2 pm on Tuesday, December 31, 2024.
“While our branches take a break, our digital channels, the UBA Mobile Banking, Leo, *919# or internet banking are available 24/7 for all your banking needs.
“Your security is our priority. We will never ask for your BVN, card number, PIN or personal details. Suspect anything fraudulent? Call our Fraud Help Desk,” the message from the lender read.
As for Fidelity Bank Plc, it plans to stop banking services at its branches nationwide today by 2 pm to resume on Thursday, January 2, 2025.
“Please be informed that our branches will close at 2 pm on Tuesday, December 31, 2024, ahead of the New Year holiday.
“As always, our digital channels; Mobile Banking, USSD Bank (*770#), PoS, ATMs, Cards, and Ivy Chat, will be available 24/7 for all banking transactions.
“Please note that normal operations will resume at 8 am on Thursday, January 2, 2025,” the bank said in its message to customers.
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