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Uber, Visa Eye Seamless Payment Experience to Africans Via Multi-Year Partnership

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Uber and Visa have announced a multi-year strategic agreement that aims to grow digital commerce across Africa.

The partnership leverages both technology platforms to encourage the use of electronic payments among consumers across the continent.

Under the agreement, Visa will work with its financial institution partners to set up their debit and credit portfolios for eCommerce.

This will enable faster adoption of digital payments in the region, new revenue streams for banks and merchants, and create the platform for market leading digital companies like Uber to offer great app-based commercial experiences to more customers.

In parallel, Uber and Visa will offer new and existing riders across Nigeria special deals when paying with their Visa card.

Uber constantly works towards ensuring a seamless and convenient app experience, and offering seamless and frictionless payment options to riders is a big part of this. The Uber/Visa partnership will ensure riders have more flexibility to pay in the way they are most comfortable, while enjoying free rides when they use their Visa card.

Alon Lits, general manager for Uber Sub-Saharan Africa adds, “Ensuring riders have access to simple and convenient payment options is crucial, which is why our partnership with Visa, makes a whole lot of sense. It’s a win-win for both riders, who have flexible payment options and will accumulate free rides, but also for driver-partners as this will increase demand which results in more trips.”

Andrew Torre, group country manager, Sub-Saharan Africa for Visa said: “Visa’s purpose is to be the best way to pay and be paid, for everyone, everywhere. Everything we do as an organization aims to live up to this promise. Visa is always looking to align with like-minded brands who will help bring our cashless vision to life, and ensure that consumers have multiple payment options to best suit their everyday lives.

“Our partnership with Uber is no different – African consumers want great customer experiences; whether face-to-face, online, or in app, they want to live their lives without barriers. Uber and Visa are going to remove those barriers in Africa, making it easier and more convenient to pay for a ride, and help people get to where they want to be”.

During the promotion period, new riders will get discounts off their first two rides. Existing riders who choose to pay with Visa will get a complimentary trip every sixth ride.

All riders need to do is link their Visa card in the payment option of their Uber app before they initiate their trip.

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Financial

UBA Emerges Best Bank in Support of Real Sector at Banking Awards

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l-r: Adetola Fadeyi, Head Wealth Management, United Capital Plc; Frank Aigbogun, Publisher, Presenting the best bank in support of the real sector trophy to the Usman Isiaka, Head, Strategic Business Unit, Lagos at the BusinessDay Banking Awards, 2017

United Bank for Africa (UBA) Plc, Pan-African banking group, at the weekend was recognised for its extraordinary support of the real sector as it won best bank in the category, ahead of its peers.

 

The award, the organisers noted is in recognition of UBA’s leadership role as in expanding access to funds for the support of the real sector in Nigeria and the rest of Africa where it operates. This feat they further said has brought about unprecedented growth to the sector and by extension, the nation’s economy and that of Africa.

 

Speaking while receiving the prestigious award on behalf of the bank, Mr. Usman Isiaka head Strategic Business Group, expressed appreciation to Businessday for recognising the distinctive role, UBA is playing in Nigeria as well as the African continent in driving financial inclusion coupled with its role in supporting the growth of critical sectors.

 

“The Real sector is pivotal to economic development in Nigeria and all of Africa as it forms the main driving force of any economy and its development.

 

We are pleased with the acknowledgement of our support to the sector. It is worthy to note that our expansion to Africa has not only helped diversify our earnings base, it has provided us with the opportunity to grow economies and partake in the development of Africa. We are grateful to all stakeholders for their support and are stimulated to do even more” he said.

 

Frank Aigbogun Publisher, BusinessDay, Nigeria’s leading business newspaper emphasised that the BusinessDay Banking Awards is the product of a rigorous process by BusinessDay’s Research and Intelligence Unit, designed to feed the editorial and also drive commercial research.

 

“We are motivated by philosophy that, Great institutions and leaders deserve to be recognised so as to boost healthy competition in their sector” that is why we make it a point of duty to celebrate those who make the conscious effort to stand out”, Aigbogun noted.

 

UBA was incorporated in Nigeria as a limited liability company after taking over the assets of the British and French Bank Limited who had been operating in Nigeria since 1949.

 

The United Bank for Africa merged with Standard Trust Bank in 2005 and from a single country operation founded in 1949 in Nigeria – Africa’s largest economy – UBA has become one of the leading providers of banking and other financial services on the African continent. The Bank provides services to over14 million customers globally, through one of the most diverse service channels in sub-Saharan Africa, with over 1,000 branches and customer touch points and robust online and mobile banking platforms.

 

UBA was the first Nigerian bank to make an Initial Public Offering, following its listing on the NSE in1970. It was also the first Nigerian bank to issue Global Depository Receipts.

 

The shares of UBA are publicly traded on the Nigerian Stock Exchange and the Bank has a well-diversified shareholder base, which includes foreign and local institutional investors, as well as individual shareholders.

 

 

 

 

 

 

 

 

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E-Financial

Bank Workers to Down Tools over Mass Sack

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Bank workers under the aegis of Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) have given notice to the Federal Government of their intention to down tools over the recent sack of some of their members.

 

New Telegraph reported that an official of the association, who disclosed this on condition of anonymity, said the sack of 281 workers by one of the old generation banks, was not justified as it did not align with the Labour Act and Collective Agreement.

 

To drive home its resolve, the source said the association had forwarded a letter to the Federal Government through Dr. Chris Ngige, minister of Labour and Employment, notifying it of the association’s intention to commence the industrial action beginning with the affected bank on October 24, before inviting other banks to participate.

 

According to the letter dated October 11, 2017, and referenced ANS/ORG/GO/YOS/338, which was obtained by our correspondent, the association noted that its decision followed previous notice already given to the bank on September 29, after several letters and meetings to enable both parties to resolve the impasse over the workers’ improper lay off.

 

According to the letter, “We will commence our action by calling on fellow Nigerians to make some withdrawals from their accounts with the bank to enable them to have enough provisions for the period of the industrial dispute. “Also, if there is no quick response, other banks will be called out on sympathy strike by the association.”

 

In the last one year, over 10,000 workers lost their jobs across all the banks in the country. A recent statistics released by National Bureau of Statistics (NBS) revealed that 8,663 workers lost their jobs in the first half of 2017. The data showed that an average of 360 people were sacked every week from January to June 2017.

 

The figures were higher in the first quarter and lower in the second. It was also revealed that while the 8,663 lost their jobs, more contract staff were employed during the period. In the first quarter of 2017, there were 174 executive staff, but the figure reduced to 161 in the second quarter. From 20,483 senior staff in the first quarter, the number dropped to 19,826 in the second quarter.

 

The drop was larger in the junior staff category where the number dropped to 33,783 in the second quarter from 36,202 in the first quarter. However, the number of contract staff increased from 20,237 in the first quarter to 21,837 in the second quarter. The job losses have continued despite warning by the Federal Government in 2016 that banks should desist from sacking their staff.

 

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E-Financial

E-PPAN Rallies Stakeholder to Discuss Big Data Analytics in Combating Payment Fraud

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By peter oluka

The Electronic Payment Providers Association of Nigeria (E-PPAN) has revealed that discussions at the 8th annual payment systems and fraud conference will focus on ‘Leveraging Big Data Analytics in Combating Payment Fraud’.

The Conference holds on the 7th November, 2017 at the Civic Centre, Victoria Island, Lagos-Nigeria.

The Annual Payment System and Fraud Conference is E-PPAN’s veritable rallying ground for the financial industry and its ally to deliberate on payment systems and fraud knowledge in Nigeria.

The event brings together senior level officers of the finTech, telcos, banking, regulatory bodies and public offices to brainstorm on the latest trends in electronic payment innovations and learn winning strategies to manage risks and prevent fraud.

E-PPAN hosts the event this year in partnership with key stakeholders in the industry such as: Central Bank of Nigeria, Police Special Fraud Unit, Nigeria Electronic Fraud Forum (NeFF), Committee of e-Banking Industry Head (CeBIH), Committee of Chief Compliance Officers of Banks In Nigeria (CCCOBIN), Information Security Society of Africa-Nigeria (ISSAN) and the Association of Chief Audit Executives of Bank in Nigeria (ACAEBIN).

A statement from E-PPAN reads: “The objectives for this year’s conference are to: Come up with new and proactive ways of fighting against fraud using Data Analytics; Leverage on the use of Data Analytics in an industry collaborative approach to manage and prevent electronic fraud; Set agenda for government and other key stakeholders on the need to synchronize various silos of data to help manage the Nigerian payment landscape”.

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