THE NIGERIAN EPAYMENT IS NOT THE MYTH

Updated: 11/11/2008 20:28
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The Nigerian epayment will continue to experience technology and knowledge in the global arena And Nigerian business is to be based on

The Nigerian e-payment will continue to experience technology and knowledge in the global arena. And Nigerian business is to be based on digital area. And the leading sector involving the world electronic is banking. In order to create real value fro shareholders all Nigerian banks were turned to commercial banks. Moreover, the growth of electronic vehicles, ATM machines and other bases for e-payment was fixed across the country.

Although the e-payment platform is becoming popular, Nigerian banks face the menace of insecurity of electronic payment vehicles, ATM machines, etc.

According to the Chief Executive Officer, eTranzact, Mr. Valentine Obi, the company provides Strong Authentication and ATM, Mobile Cardless technology. However, besides the PIN security there is another dangerous issue to worry about. It is the threat of fraudsters hacking into other people's ATM cards.

In addition, an average Nigerian customer has just begun to use the modern technology and e-payment platform. And it would be a big loss if the activities of hackers will harm electronic security. Obi also noted about the necessity of a new evolving a card system that employed a superior technology to chip and pin system. It would provide the card solution that did not depend on chip and pin technology.

As the managing Director at Global Consult, Mr. Ismaila Yusuf considers that if the banks and other institutions provide financial service through e-payment, the Nigerian economy will soon be rated among the leaders in the global financial markets. He noted that the growth of the economy depends on its ability to advance in deploying global strategy. And if the operators and the Nigerian authority complement their efforts, the economy would be on track to technology-driven development.


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