Nigeria’s digital currency, the eNaira, has been included in Remita Payment Services Limited’s (RPSL) platform’s list of available payment methods.
Remita’s managing director, DeRemi Atanda, revealed the development in a release, saying it was a result of the company’s attempts to make regular payments to its clients simpler.
According to Atanda, the platform’s advances are meant to improve its customers’ access to faster, safer, and more affordable payment options.
In addition to enabling its clientele on all fronts, he added this, stating that Remita is still dedicated to its aim of enabling people all over the world to do more while continuing to make payments simple.
Remita’s mission, according to him, is to keep developing new products that make life easier for customers in the retail, business, and government sectors.
These products must ensure that payments are made quickly, securely, and affordably while also enabling customers to expand their horizons when doing business locally or abroad.
Speaking about the firm’s inventive efforts, Atanda said that the decision to make the development was made after the company noticed that the adoption of the eNaira was currently low.
He claimed that Remita’s adoption of digital money will contribute to resolving this issue. Remita, well recognized for being a pioneer in fintech and payments innovation throughout the years, has introduced the Remita eNaira e-commerce concept as another first.
The eNaira had previously struggled with limited acceptance, since there was little understanding of its advantages or real-world applications compared to other existing electronic payment solutions.
Atanda added that the initiative will benefit both individuals and companies by expediting transaction processing times, enhancing transaction security, eliminating multiple transaction failure points that require repeated trips to banks for resolution, optimizing transaction fees, and making it simpler to receive foreign remittances, among other things.
Payers can now choose the eNaira as their desired payment method for electricity token, airtime, data, and cable TV subscription renewal, JAMB/WAEC/NECO forms and results checker, as well as payments to federal, state, and local governments throughout Nigeria thanks to the introduction of the eNaira throughout all Remita touchpoints such as the web, mobile, and agent locations.
He mentioned that merchants, fintech companies, and integrating partners can use the Remita payment gateway, which also offers the eNaira payment option.
Kingsley Obiora, the CBN’s deputy governor, recently stated at the IMF’s African Department Speakers Series that the CBN was launching the USSD code for CBDC to
Nigeria introduced the eNaira, the continent’s first digital currency, in 2021. Obiora had previously reaffirmed that the CBN would keep expanding and enhancing the system.
The CBN eNaira hackathon is now taking place to provide solutions for any potential bugs that can prevent seamless eNaira transactions.
The hackathon is in collaboration with the African Fintech Foundry, and registration for it opened on Monday (AFF).
He also expressed the ambition to use the eNaira to accomplish these goals and more, with the overarching aim of improving Nigeria’s economic prospects.
The hackathon’s innovators will create solutions for global trade, financial inclusion, blockchain, and cross-border payments (AfCTFA).
Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), stated in this respect that they have observed recently how digital currencies have opened up global economies to people who use them and how easy trading, purchasing, investing, and other economic activities have become.
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