SystemSpecs has announced plans to launch an electronic payment application on mobile phones in February which the company’s management has described as a game-changer in the payment space.
John Obaro, chief executive officer of the company said this in a presentation at Vantage Forum event held in Lagos on January 26.
“Systemspecs is coming up with a mobile app which we see as a game-changer in the payment space,” said Obaro while responding to enquiries from journalists after the event.
He further said, “It is an app that will help organisations and individuals to manage their finances, manage all your accounts in different banks on this device as an individual, make all your payments from that device and you carry your receipt with you.
“The same thing if you are running your organisation, you are able to approve all payments from that devise and you see all your balances together without having to use different apps.
Electronic payment systems are witnessing phenomenal growth in recent times in Nigeria. According to the Nigeria Interbank Settlement System (NIBSS), Nigerians spent N132.36 billion through the internet in 14 million transactions.
NIBSS also states that bank customers made 63.7 million transactions worth N759 billion through point of sale (PoS), while 47 million mobile payment transactions worth N756 billion were conducted through the 21 licensed mobile payment operators.
SystemSpecs says it is positioning to take advantage of the rising interest in electronic payment systems among Nigerians.
At the 2016 edition of Nigeria Technology Awards (NITA), which held in Lagos on November 26 2016, the company best known for the Remita payment platform emerged as the Online Payment Processing Company of the Year.
SystemSpecs won popular votes ahead of three other nominees in the same category: Paga, SimplePay and Unified Payment.
The company processed about N700 billion worth of transactions monthly through Remita, SystemSpecs’ flagship product which is currently one of Africa’s leading electronic payment solutions.
ISAAC ANYAOGU
