Upperlink gets CBN award, to offer states improved TSA solution
Nigerian software development company with focus on enterprise and payment solutions,Upperlink Limited, said it is ready to provide state governments with an improved Treasury Single Account [TSA] solutions, even as it won the 2019 edition of Central Bank of Nigeria (CBN)’s Electronic Payment Incentive Scheme (EPIS) Efficiency Awards.
The CBN organised the awards to celebrate financial institutions, fintech firms and other stakeholders, who are in the forefront of driving electronic payments in Nigeria.
The Managing Director/Chief Executive Officer of Upperlink, Segun Akano, said the company “is passionate about helping state governments with improved TSA solutions as the conversation with some of the states’ ministry of finance have shown that they want an improved TSA over what the federal government is currently implementing.”
He explained that the award-winning e-payment solution, PayChoice-BAMS, is an improved TSA platform, as it keeps all accounts in different banks but “the aggregate balance is visible on one window.”
According to Akano, this window gives the states government full control over their funds by “allowing sweeping across banks or across accounts. It provides trend analysis about in-and-out movements in each account across all the banks”.
In its fourth year, the CBN awards are based on objective analysis of all electronic-payments data collated by the Nigeria Interbank Settlement Systems (NIBSS) over a full calendar year.
Upperlink emerged winner in the Cashless Driver Award: Non-Bank Payment Operator Award – Payment Solution Service Providers (PSSP) category.
“We are proud to be recognized by the CBN for our efforts in driving excellence in electronic payments and providing our clients with a superior non-banking experience across digital touch-points.
“The award serves as extra motivation for us and we will continue to find new and exciting ways to delight our clients in digital payment solutions”, Akano said.
He explained that the platform makes disbursement easy to vendors, contractors and to pay staff salaries while allowing the tax components and other deductibles of all payments to be remitted seamlessly in real time to the respective beneficiaries.
“Our PayChoice-BAMS platform helps users to carry out transactions in real-time while observing all the protocols pertaining to signatories and mandates of the state in a secured manner”.
He added that the platform has become so valuable to state governments because it allows the states to keep their trade obligations with the respective banks.
“The ripple effects are that the banks that have set up branches in these states remain in business, keep their staff, and even employ more indigenes to improve the economy of the state, enhance payee and boost micro economic activities”, he emphasised.
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