Nigerians have found themselves in limbo these past few months since the emergence of an unbargained ‘cashless policy’ that has left many citizens stranded and disgruntled. The aftermath of the abrupt switch in currency notes was one no one saw coming. Individuals have had to find various means of continuing daily activities without cash, from joining unending queues in bank halls and opting for cashless transactions to submitting to outrageous fees from Point of Sale (POS) Vendors. Trust Nigerians for comic relief from the situation, yet it was not hard to miss the loud silence of survival on the streets.
While Nigerians were still dealing with the limited supply of cash, there was a surge in pending and failed transactions from all over the country. Individuals could not boast of one successful transaction made through their mobile app, debit cards or the USSD codes in a day. Nigerians groaned in frustration and flooded banking halls and premises for answers and prompt responses to their transaction query.
The causes of these challenges can be traced back to a lack of preparedness by the parties involved, and this has clearly shown that the way forward is digital. During this period, many digital banks were able to salvage the situation whilst still promoting a cashless policy and aiding successful transactions for their users. One such digital bank is gomoney.
In a recent interview, the Head of Strategy and Finance gomoney inc. Nnamdi Ehirim gave some insights into the digital bank’s performance despite the situation. ‘’I think gomoney’s performance during this period has been the case of preparation meeting opportunity. As a digital bank, we are generally optimized to make sure we can promote cashless transactions and cashless personal finance. Hence, our priority over the last few years has been building a robust banking operation’’
In promoting cashless transactions, gomoney has ensured that users are not stranded as they can send money, as well as make payments with either their virtual card or physical cards. Another bespoke feature of the digital bank that has fostered successful transactions this season for users is its payment link and split bill feature. As a testament to its efficiency , several Twitter users have gone on the platform to commend the digital bank for its consistency during such tiring times.
Speaking to its reliability, gomoney has been able to achieve 99% app uptime while maintaining effective communication to users in the event of downtime. A key learning this period is the need for financial literacy, and how to prepare people ahead of difficult financial times. According to Nnamdi Ehirim,‘’ I think the key word for this time is literacy. We have to learn more about the personal finance tools available to us, what they can do for us, and the innovative ways they can change our lives.’’
Connect with gomoney to enjoy simplified banking.
