• Friday, February 23, 2024
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ZojaPay’s free transfer to fuel competition in payment market

ZojaPay’s free transfer to fuel competition in payment market

The Nigerian payment market is getting a new competitor, ZojaPay, an all-encompassing digital financial app facilitating both contactless and digital payments. It promises users and merchants a user-friendly solution for making and receiving payments without relying on a physical point-of-sale (POS) machine.

Its market entry strategy is a free transfer offer to customers that gives them access to banking services at an affordable cost. There is also a N500 cash back on the first transfers.

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Olusegun Dada, founder and CEO of ZojaPay, said the app is more the typical payment service, rather it has been designed to provide seamless, secure, and convenient transactions, supporting various methods such as QR codes, Near near-field communication (NFC), phone-to-phone, cash–in–transit, scheduled payments or soft POS functionalities, ensuring payments are feasible anytime.

“With the NFC features, users can conduct quick and secure transactions through their smartphones as ZojaPay harnesses the NFC technology to deliver a seamless payment experience ensuring users have access to heightened security features of NFC payments, encompassing encryption, tokenization and convenience of effortlessly tapping your NFC-enabled phone to make contactless payments with ZojaPay,” Dada said.

Babatunde Fajemirokun, Managing Director of AIICO Insurance PLC. and Chairman of the occasion, who attended the launch event highlighted the collaborative effort and visionary leadership that culminated in the creation of ZojaPay.

“The introduction of ZojaPay into Nigeria’s flourishing Fintech industry marks a significant milestone for the entire financial landscape of Nigeria. Positioned to revolutionize the Nigerian approach to financial services, ZojaPay aims for enhanced accessibility, efficiency, and security for every user. This is more than a product launch; it’s an invitation to join in the movement towards a future where financial technology empowers individuals and businesses alike, creating opportunities and enriching lives,” remarked Fajemirokun.

Also present at the launch, Olu Akanmu, CEO, Phillips and Samuel Ltd., said there was a need for increased investors in Nigeria’s fintech space.

“The launch signifies a stride towards an empowered future where financial technology enriches lives and fosters opportunities for individuals and businesses across Nigeria. ZojaPay epitomizes the digitalization of payments, transcending boundaries to facilitate transactions seamlessly and securely, regardless of location,” said Akanmu.

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“ZojaPay’s development was deeply rooted in understanding the diverse needs of the Nigerian populace, designed to empower, simplify, and secure financial interactions. It signifies not only a leap in fintech but a stride towards a future where financial services are accessible to all,” said Dada.

ZojaPay is compatible with both iOS and Android devices and is available for download on the App Store and Play Store.