Thursday, January 25, 2018 12:20pm / IFIS (Quickteller
The financially-underserved population now rely on emerging paradigms in financial access point development such as agent networks and payment aggregators for access to basic services like no-frills bank accounts or wallets, funds transfer (send and receive money), cash-in (cash deposit), cash-out (cash withdrawal), savings, micro credit, micro-insurance and even lifestyle services like betting, lottery and gaming. Interestingly, in every difficulty lies opportunities for the strong-willed and discerning visionaries. Quickteller Paypoint, the first fully-established super-agent network in Nigeria, is at the forefront of this quest.
Having operated for barely one and half years, Quickteller Paypoint has rapidly grown its agent network to over 11,000 independent agents across Nigeria, making it one of the largest retail agent networks in Nigeria. This feat is attributable to its rich blend of depth, reach and attractive offerings. Quickteller Paypoint understands the pain points of the underserved and unbanked Nigerians and is designed to digitize cash and commoditize access to financial services. Its value proposition cuts across entrepreneurs, artisans, small shop owners, traders, supermarkets, trade associations, retail chains, government agencies, and service providers.
Quickteller Paypoint is premised on shared prosperity which is an interesting platform for economic growth. In the simplest terms, it can be translated to mean “mutual growth”. Shop owners or existing businesses can earn additional income by adding an array of payment services to their existing bouquet. Commercial and microfinance banks, telcos, cable TV providers, betting companies, Discos, insurers, government agencies, etc can deepen penetration for their business by expanding into communities that hitherto were relatively unreachable.
Quickteller Paypoint is consistently living up to its mission of building a viable, well-trained and professionally managed agent network. Back in April 2017, over 300 top-performing Quickteller Paypoint agents called Star agents, were treated to a sumptuous end-of-year trade party cum agent forum where three top Quickteller Paypoint agents were recognized as the overall winners and rewarded with cash prizes and all-expense-paid trips to Kenya. While in Kenya, the Star agents received training on capacity development, financial acumen and advanced digital financial services. They also enjoyed first-hand experience and knowledge sharing on agency services from well-established agents in Kenya, courtesy of Quickteller Paypoint. Other agents at the maiden edition of the star agent forum were recognized and rewarded with generators, TV decoders, standing fans and rechargeable fans to boost their businesses. The forum is designed to engage the agents directly, understand their overall experience and reward outstanding performance.
Digital channels with physical manifestations would continue to revolutionize how customers access financial products with an expected impact on the industry landscape. The focus cuts across multiple payment paradigms including person-to-government payment flows, while trying to understand merchant pain points around retail transactions and optimizing the service industry payment value chain. Partnership with major players remains critical to fostering the desired value realization for all stakeholders. Quickteller Paypoint on its part will continue to lead in the areas of innovative solutions, multi-access channels, unequalled service aggregation, and reliable agent support. The ultimate vision is to mine the immense potential and create a more inclusive financial environment.
Quickteller Paypoint continues to strive towards the vision of building and sustaining a 150,000-strong agent network by 2020. It is a long, arduous journey but one it has embarked on with great expectations.