FinBank Plc plans to strengthen its e-payment business to sustain its competitive edge in the industry. The bank in a statement said its Managing Director, Suzanne Iroche, declared the plan in Lagos recently.
She said Finbank has expanded the capacity and capability of its mobile payment platform and strengthened the security to enhance usage and convenience for customers.
“To remain a market leader in this segment, we have expanded the capacity of our e-payment platform to make it more versatile and robust to handle a higher volume of transactions and have strengthened security on the platform to enhance confidence of users”, she said.
Iroche pointed out that the bank’s e-payment platform had become the preferred platform in local money transfer and e-payments, adding that it is manifested in the number of new mandates won by the bank in collections and payments in recent times.
She disclosed that Finbank will launch some new products into the market such as Visa Cards, pay-roll solutions and Flash Wallet to drive its retail banking business, adding that the bank is already in discussions with Visa International.
Since FinBank introduced FlashMeCash, the product has been at the forefront of product innovation in the e- Banking space. With emphasis on convenience, FinBank has focused on developing electronic banking products to suit the socioeconomic and demographic characteristics of its discerning customers and prospects.
The bank’s flagship electronic payment product, FlashMeCash, is a mobile payment solution that allows transfers and various payments via GSM phones. It also allows electronic purchase of recharge vouchers via mobile telephones through text messaging.
Iroche said Finbank aims to facilitate Nigeria’s migration to a cashless society - one of the objectives of the Federal Government’s e-payment policy.