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Electronic payments industry set to converge in Lagos

01 June 2015, 13:12Okoro Chinedu

Lagos - Preparations for a key meeting of stakeholders in the mobile payments industry in the continent, which is scheduled for Lagos, are at an advanced stage.

Intermarc Consulting Limited will host the event under the auspices of the 15th edition of CARDEXPO AFRICA 2015 Conference and Exhibition with special focus on Card, Mobile, Identification and Payment.

The event will hold at the Eko Hotel and Suite, Victoria Island on June 23-25.

The theme for this year's event is, "Innovation: The Future of e-Payment."

This will focus greatly on the future of payment, the assumption that underlines growth potentials and how innovation will drive the process.

The conference and exhibition will also focus on new users as well as the service delivery strategy that will deliver the future of payment.

Also Read: Nigeria mobile money market earmarked for boom

Conference Director, Lilian Ekwedike, said the event came on the back of the payment landscape evolving rapidly over the past decade.

This has been attributed to a flurry of innovation and regulation, expansive growth in electronic payments and the inclusion of new market entrants.

"In the traditional electronic payment sector the weak national economies across Africa continues to drive cost efficiencies in both domestic and international payment systems," she said.

Ekwedike said international trade expansion and globalization were growing the demands for cross border payment while the rapidly changing demands of corporates, non-banks and banks for lower, reduced fees and improved services would increase pressure on traditional payments models to rationalize.

Ekwedike stated that over the next five to seven years, retail and wholesale payments are expected to mature into highly automated and interactive eco-systems.

Of particular importance and a new opportunity for banks, will be the growth in the use of traditional electronic payments in the retail sector, the official added.

More than 50 companies, including banks and card companies from the local and international payment community have pledged their support for the event.

Top government agencies such as the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS) have also put their weight as partners to this event.

Meanwhile, organisers have put together Demo Sessions for pitches by young developers of brilliant e-payment technologies.

These will have the opportunity to present and demonstrate their innovative solutions during the conference.

Each of the best four e-payment demo pitchers will win N250 000.

Only solutions that have not been launched or in the market will qualify to be presented at our pitches.

- CAJ News


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