NetPlusDotCom Partners FCMB on Contactless Payment

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.

Tochukwu Egesi
Tochukwu Egesi

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, This Day reports.

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.

Image Source: The Nigerian Voice

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.

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Population: 206.6 million (Compared to South Africa's 59.6 million)

GDP: $504.57 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,465 (Compared to South Africa's $6,193)

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Tochukwu Egesi

Associate: Genesis Analytics | Digital and Financial Services Strategy in Africa (Scribing in Personal Capacity)