ARCA Payments Company, an advanced technology platform company, based in Lagos, has made its debut at the Nigeria Fintech Week (NFW), 2023, with a brand promise to deliver cutting-edge digital solutions, to its clients, partners and users alike.
The company unveiled ArcaMoney and ArcaPay, two of its proprietary payment solutions in line with its brand proposition at the 2023 NFW themed, ‘Resilience, Innovation, and Diversification’, at the Landmark Event Center in Lagos.
Read also: Naira crunch forced companies to adopt digital payment methods – Duplo CEO
“ARCA’s mission revolves around simplifying payment acceptance and processing for financial institutions and SMEs, with a primary focus on Africa’s dynamic payment landscape. Its suite of products and solutions seamlessly, operates within the multifaceted payments environment, effectively bridging the gap between individuals, financial institutions, banks, and businesses, all contributing to the growth of Africa’s digital economy,” Dare Owolabi, executive vice chairman, ARCA, said.
According to him, the primary objective of the brand was to bridge the gap between traditional banking and underserved communities, bringing banking services closer to people. “We are a brand you can trust, and our service offerings are uniquely designed to provide you the best experience possible, as far as digital payments solutions are concerned”.
Read also: How ‘Ajo’ system thrives amid digital payment growth
He said that the debut by ARCA further supports the brand’s move to drive digital inclusion across the African commercial landscape and complements recent market storms and commercial engagement activities launched across commercial nerve centres in Nigeria.
He noted that both ArcaMoney and ArcaPay would be game changers in the fast-evolving digital payment ecosystem. He said further that ARCA will actively contribute to industry efforts to provide up-to-date, seamless and effective payment solutions for businesses that increasingly break e-commerce boundaries using digital solutions.
“Our agency banking solution, named ArcaMoney, empowers authorized agents to facilitate financial transactions for customers, enhancing accessibility to banking services. In our quest to develop this innovative solution, we thoroughly analyzed existing agent banking models, including their relationships with merchants and aggregator frameworks.
Read also: Why fintechs should prioritise customers’ safety to drive economic inclusion
“We carefully considered commission structures that would satisfy our merchant partners, incorporating these features into our solution. We are also actively engaging with our communities to ensure they take advantage of our offerings and price regime that will keep them both happy and fulfilled,” Owolabi said.
In speaking to industry concerns relating to risks and security breaches in the fintech sector, Owolabi emphasized ARCA’s commitment to safeguard depositor’s funds, noting that the company had Payment Card Industry Data Security Standard (PCI DSS) certification, which is a set of security standards formed in 2004 by Visa, MasterCard, Discover Financial Services, JCB International and American Express.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
