During the inaugural edition of the SystemSpecs Tech Innovation Webinar Series, which was recently hosted in collaboration with FintechNGR, with the theme “Cashless Policy: Sustaining Digital Payments beyond the Currency Redesign,” Deremi Atanda, the Managing Director of Remita Payment Services Limited (RPSL), a major financial service provider in Nigeria, has urged for infrastructural development to facilitate the expansion of digital payments in the country. Doing this will ensure that digital payments can sustain themselves in the upcoming future.
Gathered at the event are Fintech experts like Dr. Henrietta Onwuegbuzie, Director of the Business Innovation Accelerator at Lagos Business School; Demola Igbalajobi, Managing Director of SystemSpecs Technology Services(STSL); Tomilola Majekodinmu, Founder and Chief Executive Officer of Bankly; and others to explored how digital payments may be maintained in the most effective manner with a stronger emphasis on the significance of the creation of suitable infrastructure in order to create a robust digital payment system across the nation.
Improvements are needed in Nigeria’s financial infrastructure.
During the event, Deremi stressed the role of the cashless policy in terms of fostering financial inclusion, cutting costs associated with currency management, and improving the effectiveness of the payment system. Yet, he also cautioned that the idea would not be successful unless considerable improvements were made to Nigeria’s infrastructure. The SystemSpecs Technology Innovation Webinar Series acts as an innovative platform that has been deliberately chosen to deliver real solutions to a variety of economic, financial, and other national issues.
He also discussed the four A paradigms, which entail providing infrastructure to the last mile and ensuring awareness. He said, “The first one is Awareness, people must know what there is; the second is Adoption; the third is Acceptance and the fourth is Acculturation making it a way of life where you keep reinventing the first three ‘As’”. Taking into account the current obstacles, such as limited access to the internet, low literacy rates, and outdated infrastructure, that prevent digital payments from gaining widespread popularity,
Remita offers seamless payment services for people and corporations.
Deremi Atanda is in charge of leading the expansion and growth of Remita Payment Services Limited (RPSL), establishing key alliances, and managing the creation of cutting-edge digital payment solutions in his role as the company’s Managing Director. Remita has developed into a significant player in Nigeria’s growing Fintech industry owing to his leadership. It is now a leading financial firm with a base in Nigeria. The company offers seamless payment services for people, corporations, organizations of any size, federal and state governments.
It won multiple awards for its innovative solutions, including “Best Lending Support Service Provider” as well as “Best Corporate Payments Platform” from the Central Bank of Nigeria (CBN) in 2022. Remita is at the forefront of technological advancement in the ever-changing Fintech industry, always releasing new products and services to fulfil the demands of its consumers. It stands out as a frontrunner in the Nigerian Fintech industry primarily to its dedication to quality, high customer satisfaction, and doing things that benefit others.
Collaborative efforts are needed in the sector to boost inclusion.
Moreover, he underlined how important it is for traditional financial institutions, the government, and Fintech startups to work together in order to confront these difficulties properly. Fintech companies have an essential part to play in expanding access to financial services and fostering the growth of digital payment systems. In order to accomplish their goals, he explained, they are going to have to work together with a variety of other stakeholders in and outside of sector.
Related Link
Remita: Website
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Nigeria need to upgrade Digital payments. – Infrastructural development will facilitate digital payment expansion. – Express your point of view.
Upgrading Nigeria’s digital payments infrastructure is essential for promoting financial inclusion, driving economic growth, encouraging financial innovation, reducing operational costs, and moving towards a more transparent and accountable financial system. Therefore, it is critical for the government and private sector players to collaborate and invest in upgrading the digital payments systems in Nigeria.
We really need to do well in our digital payments. This is why it needs upgrading. If we are able to upgrade them, it will make it easy for us to do payments.
Upgrading our digital payment will be good it will make things easier and faster if we upgrade our digital payment and infrastructure development also
With the advent of cashless policy we need to to upgrade our digital infrastructure to a robust one in a way that will give fast, easy and seamless access to digital transactions across the country.
This was the major issue people had when there was cash scarcity, the payment platform, bank apps were down. These platform infrastructural needs to be upgraded to make digital payment seamless
The government ought to be aware of the fact that carrying this out would make it more likely that digital payment systems will be able to thrive in the years to come.
Nigeria need to upgrade Digital payments. Payment of Nigeria digital infrastructure expansion is necessary and need to be upgraded for better
I think it’s great that the government recognises that the notion won’t take off unless we upgrade the financial technology platform in Nigeria, which will speed up the time it takes to execute transactions.
It is crucial for fintech firms to aid in the development of electronic payment methods and the provision of greater availability of monetary services so they should get right on it.
The Nigeria digital payments system needs upgrading since Nigeria is trying to adopt to the cashless policies. The infrastructure required to facilitate expansion of the digital payment should be made available.
The digital payment method need to be upgraded at this time because since the introduction of cashless policy,many people has really forced to start using the platform which has really put pressure on it and this has really resulted into different problem when sending and receiving money.
We can’t afford to remain in the pass. With constant increase in technology globally,we can’t continue to have glitches in our digital payment system. It is therefore imperative for the financial institutions, the government, and Fintech startups to work together in order to achieve Infrastructural development which will facilitate digital payment expansion.