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Six lenders emerge in Nigeria’s maiden e-payment awards 





Six banks emerged tops in the maiden edition of the Electronic Payment Incentive Scheme (EPIS) awards organised by the Nigeria Inter-bank Settlement System (NIBSS), in collaboration with the Central Bank of Nigeria (CBN).

The awards, which named Guaranty Trust Bank Plc as the best customer experience, was to identify, reward and celebrate financial institutions, merchants and other stakeholders in the electronic payment space.

It also won several cashless driver: instant payments, Point of Sale (PoS) issued cards transactions, instant payment transaction efficiency, electronic reference operation and automated direct debit mandate management.

Zenith Bank won two awards on cash-less driver bulk payment and Point of Sale (PoS) transactions acquiring, while Interswtich won three awards as most efficient Payment Terminal Service Provider (PTSP), most efficient payment processor and most efficient Payment Terminal Application Developer (PTAD).

Meanwhile, on the platform efficiency award, Citibank won the instant payment transaction response efficiency; Diamond Bank won Point of Sale (PoS) issued cards transaction acquiring efficiency; First Bank of Nigeria won bank verification number enrolment; Standard Chartered won PoS transactions acquiring efficiency; MasterCard won most efficient card scheme; and Paga won the mobile payment operator.

The Deputy Governor, Operations Directorate, CBN, Alhaji Suleiman Barau, said: “We are delighted and proud to recognise, encourage, appreciate and reward financial, non-bank and other stakeholders in the EPIS that has been driving the electronic banking channels in Nigeria.”

The Managing Director, NIBSS, Adebisi Shonubi, said that the EPIS is an initiative of the Central Bank of Nigeria (CBN), Bankers Committee, and the banks in Nigeria to promote electronic payment in Nigeria.

According to him, the event marked memorable point for all the years of commitments by industry regulator and other stakeholders that have tried to make Nigeria’s quest for electronic payment the one that has transformed into cash-less payment system.

Others were, cashless award for non-bank; Ikeja Electricity Distribution Company won Merchant award, Soft Alliance and Resource ltd won payment aggregator, Benin Electricity Distribution Plc won cashless driver corporate.

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