By Modupe Gbadeyanka

An innovative payment solution known as GMT Pay has been launched by FSL, the Web3 development studio behind the powerhouse Web3 lifestyle app STEPN.

GMT Pay is the first payment gateway for everyone to use Web3 earnings for everyday payments. It empowers users to earn through STEPN GO and other FSL products and seamlessly turn their GMT and GGT earnings into real-world purchases.

Central to GMT Pay is the GMT Giftcard, a virtual Mastercard available in denominations of $50, $100, $200, and $300.

Powered by Mastercard, the card allows users to make both online and offline payments at millions of merchants worldwide.

From shopping on Amazon and paying for Spotify to enjoying coffee at a local café, the GMT Giftcard offers unmatched accessibility and convenience. Additionally, the card is compatible with Apple Pay and Google Pay, enabling secure and seamless mobile transactions.

A statement from the company disclosed that GMT Pay is designed to be globally accessible, enabling users across different regions to benefit from its features.

While certain restrictions may apply, the platform is widely available, making it a significant step in FSL’s mission to integrate Web3 into everyday life.

The application bridges the gap between digital assets and everyday spending, making Web3 more accessible and practical for users worldwide.

Ahead of its public launch, the waitlist for GMT Pay is now open, giving early adopters priority access to this platform via fsl.com/gmtpay.

The co-founder of FSL, Yawn Rong, said, “Three years ago, the idea of a Web3 payments app felt like a distant dream.

“Today, it’s a reality. You can go for a run with STEPN GO, earn rewards, download GMT Pay, and seamlessly use your earnings to make real-world purchases. This is the evolution of Web3—bridging the gap between digital and physical worlds.”

Also, the chief executive of the firm, Shiti Manghani, said, “GMT Pay is the next step in empowering users to bring Web3 into their everyday lives. From fitness enthusiasts earning on STEPN GO to shoppers looking for global convenience, GMT Pay makes digital earnings useful in ways we couldn’t imagine just a few years ago.”

By Modupe Gbadeyanka

Interswitch has reaffirmed its commitment to nurturing innovation through its participation as a platinum sponsor of the InnovateAI Conference for the second consecutive year to reaffirm its dedication to leveraging Artificial Intelligence (AI) to enhance the nation’s digital payment ecosystem.

This year’s event is scheduled for February 21, 2025, at Landmark Event Centre, Lagos, with the theme Scaling AI Adoption in Nigeria: Catalysing Cross-Sectoral Innovation and Fostering Inclusive Growth.

Organised by AI-in-Nigeria, a company focused on localising and scaling AI across Nigeria, the summit is expected to attract over 3,000 participants, including AI enthusiasts, industry leaders, scholars, and innovators from Nigeria and across the world.

Intending participants have been urged to register for free at events.aiinnigeria.com/ to book a space for a transformative experience.

The conference is designed to promote knowledge sharing and showcase cutting-edge developments and will feature keynote addresses by thought leaders, who will explore strategies for scaling AI adoption across sectors such as fintech, financial services, public services, and oil and gas.

Panel discussions will examine the critical interplay between data, talent, and computing; the foundational elements for sustainable AI-driven innovation in Nigeria.

The event will also feature AI product demonstrations to highlight transformative solutions and practical applications, showcasing the potential of artificial intelligence to address real-world challenges and drive inclusive growth.

Speaking on the sponsorship, the Chief Data and AI Officer for Interswitch, Oluwadamilare Akinwunmi, said, “Interswitch is excited to sponsor the InnovateAI Conference for the second consecutive year.

“We recognise the transformative power of artificial intelligence in shaping Nigeria’s industries and the need for platforms like this to advance its adoption.

“Through our continued collaboration with stakeholders, we aim to spark insightful conversations, build new partnerships, and drive AI-powered solutions that will redefine the future of payments, commerce, and beyond.”

By Aduragbemi Omiyale

The decision of the Nigerian Communications Commission (NCC) to approve tariff adjustments for telecommunications operators in the country has been lauded by Airtel Nigeria.

Recall that a few days ago, the telecommunications regulator approved an upward review of tariffs on calls, data, and SMS by operators by 50 per cent.

Reacting to this development, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, said the increment underscores NCC’s commitment to fostering sustainability and enhancing investment in the telecommunications industry for superior service delivery.

“The tariff adjustment reflects a balanced approach to ensuring the sustainability of the telecommunications sector while safeguarding the interests of consumers,” Mr Balsingh stated.

“The price increase which was highly needed for the survival and continued growth of the industry, will enable us to continue investing in network infrastructure, expanding coverage, and delivering improved products and services that meet the evolving needs of our customers,” he added.

The Airtel Nigeria chief expressed confidence that the hike in tariff would “pave the way for even greater advancements in telecommunications services across the country.

“Our focus remains on providing exceptional customer satisfaction while contributing to the long-term sustainability of the industry.”

The company said it remains committed to its mission of bridging the digital divide by offering reliable and affordable telecommunications services.

With Nigeria’s vibrant economy and dynamic population, the company believes the decision by NCC creates an environment conducive to innovation and growth, benefiting consumers and the industry alike.

As part of Airtel Africa, which operates in 14 countries across the continent, Airtel Nigeria reiterates its dedication to the Nigerian market and its significant role in shaping the future of connectivity and digital inclusion.