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CBN, NIBSS seek increased adoption of e-payment

By on August 22, 2015

The Executive Director, Nigeria Inter-Bank Settlement System Plc, Mrs. Christabel Onyejekwe, says the company has collaborated with the Central Bank of Nigeria to introduce an industry-wide incentive to encourage Nigerians to adopt electronic payment for financial transactions.

She noted that the CBN approved the scheme, tagged Electronic Payment Incentive Scheme, as a means of spurring Nigerians to imbibe the e-payment culture.

Onyejekwe spoke at the maiden raffle draw and reward presentation to winners in the CBN-backed incentive scheme.

According to her, the raffle is divided into three winning categories and the EPIS is meant to reward users of electronic payment platforms in the country in order to encourage greater adoption by all.

Highlighting the benefits of the scheme, the ED said, “The incentive scheme will reward and appreciate usage across all channels with emphasis on channels of electronic payments that promote financial inclusion by aiming to identify and reward the cardholders, merchants and salespersons.”

While lauding the introduction of cashless policy by the CBN, Onyejekwe noted that e-payment and card usage in Nigeria were still at nascent stage; adding that “most transactions in the country are still done with cash.”

She said the incentive scheme commenced on August 10, 2015 and the scope included the development of raffle draw software by the NIBSS and the selection of winners from a pool of card transactions that took place in the month of July this year.

Onyejekwe said the initiative had the backing of the Consumer Protection Council and the National Lottery Regulation Commission.

Global auditing and professional services firm, Ernst and Young, was appointed to ascertain the credibility of the process, she added.

 

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