Home Big Story Nigerians exchange N12 trillion on home-grown e-payment platform, Remita

Nigerians exchange N12 trillion on home-grown e-payment platform, Remita

Nigerians exchange N12 trillion on home-grown e-payment platform, Remita
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Nigerians have processed over N12 trillion in transactions on Remita, an e-payment platform developed by Nigeria software company, SystemsSpecs, to drive the cashless initiative of the Central Bank of Nigeria (CBN).

SystemSpecs is also confident that its Remita solution platform will not only revolutionise the e-payment industry in Nigeria but also complement the nation’s apex bank’s cashless initiative that has been expanded to go live nationwide as from the beginning of this month.

John Obaro, Managing Director/CEO of SystemSpecs, told journalists in Lagos this week that the company through Remita has been able to execute an average of N500 billion monthly transactions and hopes to further deepen this by increasing penetration to other target markets.

Obaro also confirmed that over N12 trillion worth of funds transfer, collections and payment of salaries, pensions and taxes have so far been processed through the company’s e-payments platform, Remita.

“Remita is a powerful platform that presents individuals and organizations with a very simple and intuitive user interface.Today individuals, private and public sectors organization have processed over N12 trillion worth of transaction on the platform”, he said.

Remita has now been seen as a national resource as it has been adopted by the apex bank in Nigeria as the e-payment and e collections platforms of the federal government which is a testimonial to government commitment to the patronage and promotion of the local ICT industry.

”A widely adopted shared services platform, Remita is in use by all commercial banks all pension funds over 400 micro fiance and mortgage banks and thousands of public and private sector organizations as well as individuals”John added.

According to him, apart from providing e-payments, e-payroll and e-schedule on a single platform, Remita also offers users the ability to view balances across different bank accounts on just a single screen.

Demola Igbalajobi, Group Head, Remita Services, explained that while spearheading a revolution of electronic payments in the country, the company is simultaneously working with diverse stakeholders with a footprint across all 36 states and “hopes to increase such.”

”Working with diverse stakeholders with a footprint across all 36 states and the FCT, Remita has been and continues to be at the forefront of revolutionising the e-payment and e-collections industry in Nigeria”, according to the company executive.

Remita now offers zero integration fees to SMEs who are billers or collector as part of its effort and contribution to the national e-payment initiative, the company said.

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Kolade Akinola Technology Journalist at Technology Times Mobile: + 234 (0) 807 401 6027

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