• Wednesday, April 24, 2024
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Wema Bank empowers MSMEs with payment solutions

Wema Bank: Lender’s relentless hunger for growth, profitability

Wema Bank has re-launched its Micro, Small and Medium Enterprise (MSME) solutions to provide businesses and customers with diverse seamless collection and payment platforms.

The MSME collection and payment suite includes ALAT for Business, NQR, ALATPay, MyBusiness Card, and the Wema POS machine, boasting physical and contactless payment options.

Read also:  1,000 MSMEs get financial literacy empowerment through SheEnabled project

ALAT for Business is the bank’s digital app designed exclusively for business owners. While customers use ALAT to pay merchants, these merchants use AFB for bulk payments. On AFB, business owners can make payments to 5,000 beneficiaries in one transaction, optimise salary payments, invoice discounting, cash flow analysis, Form Q Initiation, and even FX transactions.

ALATPay on the other hand, is a payment gateway website that allows seamless payments with instant confirmation for customers and business owners. Wema NQR provides ‘scan-to-pay’ options for faster contactless payments via QR Code.

The Wema POS Machine allows businesses to receive card, transfer and alternative point-of-sale payments free of hassles. MyBusinessCard is a business card that offers business owners priority service in branches, increased transaction limits, supplementary cards like Virtual Cards, discounted offers on ads, and HR solutions, among others.

Ayodele Olojede, Wema Bank’s divisional head of retail and SME, says this suite of solutions presents a unique opportunity to engender and accelerate digital and MSME empowerment in Nigeria.

“At Wema Bank, MSMEs hold a special place in our heart. Our dedication to supporting MSMEs with viable solutions and resources is not just ‘box ticking’, it’s a lifelong mission that we are committed to seeing through. These re-launched platforms guarantee business owners the flexibility of focusing more on profit-adding business activities.”

Read also: Access Bank partners FG to empower 700,000 MSMEs with 50bn

“Seamless and efficient processes are a non-negotiable requisite for achieving and sustaining true business success and with these re-launched solutions, I encourage all business owners to visit www.wemabank.com/sme/collections-and-payment to access and onboard the full suite of solutions”, she noted.