Remita Processes $30bn Transactions Annually, Gets Mobile App

remita
  • Remita Processes $30bn Transactions Annually, Gets Mobile App

With annual transactions on Remita hitting $30bn in the country, SystemSpecs on Wednesday said it had resolved to release the mobile version of the Remita e-payment and e-collection platform before the end of the year.

It said that Remita was at the forefront of driving the national financial inclusion policy, “as about 500 microfinance banks use it to meet the needs of many Nigerians who do not have access to commercial banking services.”

The Executive Director, SystemSpecs,‘DeRemi Atanda, said, “These microfinance banks also use it to extend financial services to a large number of unbanked Nigerians.

“It also currently serves over 1,000 merchants, billers, multinationals, Small and Medium-scale Enterprises, and governments at various levels, and processes about $30bn worth of payment transactions every year.”

Atanda spoke at the ongoing Gulf Information Technology Exhibition in Dubai, the United Arab Emirates, which has participants from over 157 countries.

He had earlier said that when SystemSpecs, creator of the Remita e-payment platform, releases the mobile version of the application by the end of this year, millions of Nigerians would be able to make payment from their bank accounts using their smartphones.

According to him, with the mobile version, payment can also be made through any debit or credit card to thousands of merchants and billers in the country.

“The Remita mobile app will enable any individual or organisation to see in real-time the balance in accounts held across different banks on a single app. Apart from this first-of-its-kind feature on a mobile app, users will also be able to make payments using the latest scan-to-pay and tap-to-pay technologies,” he said.

Speaking further at the event, which also had other successful Nigerian technology companies showcasing their offerings, Atanda said, “Remita is conceived as a one-stop payment app that will easily address the diverse needs of customers who currently have to download and use many payment apps at the same time.”

The Minister of Communications, Adebayo Shittu; Director-General, National Information Technology Development Agency, Dr. Isa Ibrahim; and the Chairman, House of Representatives Committee on ICT, Mohammed Onawo, and others, were present at the GITEX event.

While welcoming them to Remita’s stand within the Nigeria pavilion, Atanda said, “The uniqueness of Remita lies in its ability to serve as a one-stop payment platform that offers organisations and individuals the most number of payment and collection channels available on any single platform.”

 

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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