Gomoney, a digital bank operating in Nigeria has assured bank users across the country of smooth cashless transactions just as Nigerians continue to adjust to the Central Bank of Nigeria (CBN) cashless policy.
“I think gomoney’s performance during this period has been the case of preparation meeting opportunities. As a digital bank, we are generally optimized to make sure we can promote cashless transactions and cashless personal finance. Hence, our priority over the last few years has been building a robust banking operation,” Nnamdi Ehirim, head of strategy and finance, gomoney, stated while giving insights into the digital bank’s performance on the back of the CBN cashless policy.
Ehirim stated further that in promoting cashless transactions, gomoney has ensured that users are not stranded as they can send money, as well as make payments with either their virtual card or physical cards.
Accordingly, he stated that the causes of the challenges associated with the cashless policy can be traced back to a lack of preparedness by the parties involved, which has clearly shown that the way forward is digital. “During this period, many digital banks were able to salvage the situation whilst still promoting a cashless policy and aiding successful transactions for their users.”
He stated that another bespoke feature of the digital bank that has fostered successful transactions this season for users is its payment link and split bill feature. “As a testament to its efficiency, several Twitter users have gone on the platform to commend the digital bank for its consistency during such tiring times,” Ehirim stated.
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Speaking to its reliability, Ehirim disclosed that gomoney has been able to achieve 99 percent app uptime while maintaining effective communication to users in the event of downtime. According to him, a key learning curve that emerged during the period of the cash crunch is the need for financial literacy, and how to prepare people ahead of difficult financial times.
“I think the key word for this time is literacy. We have to learn more about the personal finance tools available to us; what they can do for us, and the innovative ways they can change our lives.
“Nigerians have found themselves in limbo these past few months since the emergence of an unbargained ‘cashless policy’ that has left many citizens stranded and disgruntled. The aftermath of the abrupt switch in currency notes was one no one saw coming,” Ehirim stated.
