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New e-payment scheme gets UBA boost

11 October 2013, 09:32Henry Ifeanyi

Lagos - United Bank of Africa (UBA) pledged its support of the newly launched e-commerce platform, U-Mall, with an e-payment solution.

According to the bank, it will provide the payment solution in partnership with Netplus Advisory Limited.

At the inauguration, the Head of e-Banking at UBA Plc, Yinka Adedeji, described U-Mall as a virtual super mall, where different retailers can get retail space, display and market their goods to different buyers, providing variety and competitive pricing for potential buyers.

He added that the new platform would allow Small and Medium Enterprises to overcome the challenges they face when they seek to reach more customers through an online platform.

According to him, this is because U-Mall also provides a secondary platform for SMEs to easily reach a higher number of potential customers while retaining their traditional trading platform.

“U-Mall leverages the web and mobile banking to provide an e-commerce platform that provides convenient shopping options for buyers and an easy way of selling and receiving revenues for the sellers. In addition, it is an open self-service platform that allows merchants to register their businesses by completing store registration and mobile money forms online,” he said.

In terms of the distribution of products, Adedeji explained that FedEx, the logistic partner, was expected to deliver products to the customers within 24 hours for purchases in the Lagos metropolis and between two and three days in most locations in Nigeria.

The Managing Director of Netplus Advisory, Wole Faroun, urged all SMEs to take advantage of the platform, which, according to him, is to revolutionise e-commerce.

He said with UBA as the payment partner, customers and merchants should not worry about the safety of the platform.

This, he explained, was because the bank had led many innovations in electronic banking and was in a position to ensure the safety of transactions.

Faroun said with the rise in internet penetration in the country, the growth of the social media and the introduction of a cash-less policy by the Central Bank of Nigeria, e-commerce would continue to grow, offering a great opportunity for entrepreneurs, who want to reach more customers at minimal costs

U-Mall, the new e-commerce platform is designed to allow several small business owners in different sectors of the economy to open online stores hosted on a single e-commerce platform to display and sell their goods to potential shoppers on the internet.

– CAJ News

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