• Sunday, February 25, 2024
businessday logo


NIBOX partners SystemSpecs, to deepen financial inclusion

NIBOX partners SystemSpecs, to deepen financial inclusion

NIBOX, a multi-platform payment solution provider, has partnered with SystemSpecs, the developer and provider of the innovative Remita financial technology solution, to extend financial products and services to the banked, underbanked and unbanked on NIBOX’s self-service Payment Terminals strategically located throughout Nigeria, and online through NIBOX’s mobile platforms.

Through this partnership, services such as Federal and State Governments payments, electricity recharge token, airtime and data phone top-up, cinema tickets purchase, insurance premium payment, cash transfers and other utility bills will be accessible on NIBOX touch points.

NIBOX already has 55 terminals deployed in Lagos and Abuja, with planned deployment of additional 500 terminals in Lagos and Abuja by the end of 2019. Transactions can be conducted round-the-clock on the NIBOX terminals using electronic or cash payments.

“We are glad to be collaborating with SystemSpecs to deliver new services to customers. Indeed, the value proposition and attainments of the Remita brand are a boost for this partnership and would ultimately be to the advantage of the end-user, who would now have improved access to various services and products across Nigeria,” George Manuwuike, CEO/Founder, NIBOX told BusinessDay.

According to the CEO, “the partnership is also in line with our aim of becoming the fastest and most convenient platform for cash payment for broad-based goods and services for public and private sectors.”

Related News

Available in public spaces such as shopping malls and leading supermarkets, NIBOX Payment Terminals do not require the presence of an agent or operator to function. Each self-service kiosk is equipped with a bold user interface and a touchscreen for easy user interaction

Commenting on the development, Demola Igbalajobi, SystemSpecs’ Divisional Head, Payment Gateway and Infrastructure, said “At SystemSpecs, we understand that access to financial services is key to the development of a strong and efficient financial ecosystem, which facilitates economic growth. It is therefore a delight for us to partner with NIBOX to further bring Remita services closer to customers at their point of convenience using NIBOX touch points.”

NIBOX is one of the leading financial inclusion solution provider that is currently present in the market via cash-in/cash-out payment terminals and unique built-in infrastructure that has the potential to enhance rural deployment of financial services across Nigeria.

The Central Bank of Nigeria (CBN) plans to include 80 percent of Nigerian adult population into the formal financial cycle by the year 2020.

NIBOX provides financial payment solutions for the banked, underbanked and the unbanked population, offering payment solutions to active mobile customers and financial inclusion to those exempted from banking services.