Konga.com, Nigeria’s largest online mall, has just announced the successful development of a novel online payment solution, which is set to foster trust and safety for online shoppers in the country.
Market observers are of the view that the electronic commerce ecosystem can only be successfully built on trust and safety. According to them, these two components allow for a seamless exchange of goods, services and most importantly payments. The solution, dubbed ‘KongaPay’ is a payment solution that allows users to perform one-click payments on the Konga marketplace. Every time a customer triggers a transaction, the bank sends a secure authorisation code to the customer’s registered mobile number. Anyone with a bank account and a registered mobile phone number can use KongaPay. There is no need to sign up for internet banking. This product was unveiled at a KongaPay Demo event, weekend, held on the 9th of June 2015 at Nike Art Gallery in Lagos.
Sim Shagaya, chief executive officer at Konga.com, said, “KongaPay is a partnership with Nigeria’s banks. We strongly believe that together, we could change the face of online shopping in Nigeria by removing the uncertainties customers associate with pre-paying for goods and services they are yet to receive.”
Speaking about the benefits of the product to online shoppers on Konga.com, Shagaya said, “Payments made with KongaPay are held in escrow until the transaction is satisfactorily completed. With KongaPay, shoppers on Konga’s marketplace can rest assured knowing that their transactions are fully protected. They are in full control of their money, and will get instant refunds for cancelled or returned orders with just an easy click. The use of KongaPay eliminates the need to enter sensitive personal information such as card details or Internet banking passwords”.
After live demonstrations of the easy and secure use of KongaPay on the centre-stage, industry executives gathered around various shopping stations where they too signed up and used KongaPay to for their purchases. KongaPay is now available on a “limited first-look release basis” with national launch scheduled for Q3 2015. So far, Konga has completed integrations with Access Bank, Diamond Bank, Ecobank, FCMB, First Bank, GTB, Heritage Bank, UBA and Zenith Bank. It is expected that by its national launch, most Nigerian banks will have completed integration in order to achieve widespread access to KongaPay. To register for KongaPay while shopping on Konga, all the shopper has to do is select his or her bank, enter a name, account number and date of birth and then finish registration by using the code sent via SMS to the individual’s registered mobile number. Every time the user wants to shop, all the user has to do is enter the secure authorization code sent by the bank to complete transactions.
Ben Uzor
