Fintech and payment service provider, NetPlusDotCom has gone into a partnership with First City Monument Bank (FCMB), to develop and deploy a notification service for merchants that enables account transfer payment notification on point of sale (PoS) devices and merchant apps.
The service, running on the NIBSS Instant Payment (NIP) platform, will make it easier for merchants with an FCMB account and their customers to transact on existing PoS payment infrastructure already provided by the bank.
With the challenges posed by the outbreak of the COVID-19 pandemic, payment service providers and financial institutions have gone the extra mile to make financial transactions more secure, safer and easier for all segments of the society.
Instant money transfer is one of the leading digital payment channels in Nigeria. It has been established that innovating and improving the user experience is a major boost for the entire ecosystem.
Speaking on the service, the Founder and CEO of NetPlusDotCom, Mr. Wole Faroun, said: “We are excited about this development in collaboration with FCMB.
We want to make it possible for local business owners to get payment confirmation for Bank transfers made by their customers and provide a working alternative to card payment in Nigeria.
“Through existing PoS devices and Merchant Apps, we are providing a quicker and more convenient means to transact, especially now that every aspect of our lives is going virtual, we need to limit contact as much as possible”.
Also commenting, the Divisional Head, Transaction Banking of FCMB, Mrs. Rolayo Akhigbe, stated that:
“As almost all aspects of our lives become virtual, there is a need to continuously proffer convenient solutions that will cater to the transacting needs of our customers.
This new development by Netplus aligns with FCMB’s vision to be a key partner in supporting local businesses through innovative and convenient means. We are more than happy to be part of this initiative.
“This new service is free for business owners to sign up and use as a tool. Both companies encourage local business owners to get on board and take full advantage on this new opportunity in a digitally changing world.