Cashless, agency banking and mobile payment initiative BeyondBranches has extended the QuickTeller platform to all banks in the country in a move that will enable any customer to deposit cash into any bank account held at any bank in Nigeria at an agent.
This initiative will bring the bank to the and make cash deposit quick and secure.
Speaking about the launch, Simon Aderinlola, chief operating officer of BeyondBranches in Nigeria, said: “We are excited to make life easier for bank’s customers. The cost of transportation, the time wasted due to the traffic in Nigeria’s towns and cities and the queues within bank branches have made life difficult for the people of the country. Instead, customers of any bank can now go to a Quickteller agent and deposit funds into any bank account in Nigeria.”
The QuickTeller platform was developed by Interswitch, the largest integrated payment processing service provider in Nigeria. Interswitch explores different opportunities to provide solutions that support the Cashless society drive of the CBN while also delivering a financially included Nigerian population.
“BeyondBranches have integrated their platform and growing agent network into our platform to build a secure and highly scalable agency banking infrastructure in Nigeria, enabling Banks and other key players in the industry bring financial services closer to their customers in a secure manner,” said Mrs Titilola Shogaolu Chief Payment and Value Added Services Officer of Interswitch Nigeria. “We are excited about the potential services that can be enabled with this infrastructure.”
This new move to deposit cash at an agent is an exciting new service that helps drive transactions to agents. By continually adding new services quickly, we can help drive branchless banking and digital inclusion in Nigeria.
“We hope to continue to support the Central Bank of Nigeria’s policies on financial inclusion,”Gregory Ubigen, chief executive officer of BeyondBranches International said.
In November 2013, BeyondBranches implemented its Duka Platform with Quickteller for banks, mobile money operators and other entities can leverage the BeyondBranches Network to offer branchless services to their customers. Agents were identified, vetted and trained to use the service on their internet-enabled mobile handset and those who passed the quality control test were allowed to advertise BeyondBranches services which allows users to use cash to pay over 100 different types of bills, pay to charity, buy tickets and airtime through the network of approved agents.