Access Bank Plc has  launched Swift Pay, a digital payment service that facilitates the receipt of business payments by enabling customers make quick, easy and secure digital payments on social media platforms to merchants.

 Group, Head, Emerging Businesses, Access Bank plc, Ayodele Olojede, noted that the lockdown, experienced in 2020 as a result of the COVID-19 pandemic, resulted in less in-person interactions and  less in-person payment options.

She disclosed that statistics from a survey carried out post-lockdown showed that MSMEs were affected by cash flow, revenue and sales while adding that the impact of the pandemic made more apparent the lack of infrastructure and access to digital resources for small businesses.

She added:“This is why Access Bank introduced SwiftPay to support the digital transition and growth of SME businesses. This product is part of the bank’s commitment to support SMEs to meet their business objectives despite the times. The new service comes in form of a payment link that can be hosted on merchants’ social media pages and sent to anyone to pay and conclude business transactions. It is easy and takes less than 5 minutes for interested merchants to sign up as it is convenient and time saving for everyone.

She also disclosed that the bank is committed to providing very practical solutions that support the growth of small business in Nigeria.

“SWIFTPAY is free and the processing charge is discounted up to 15 per cent to ensure merchants keep most of their earnings.  In recent times, e-commerce has been challenged with the rise in fraud on social media, we have ensured that every merchant registered on SWIFTPAY carries a ‘verified by access ‘ stamp to authenticate the page giving customers confidence when they transact.

 “We have been focused on providing solutions targeted at boosting the economy because we believe it is our responsibility to contribute to the stimulation of economic growth. With the launch of “SwiftPay by Access”, we are renewing our commitment to providing the much-needed technological support to our SMEs.” Olojede concluded.

First City Monument Bank (FCMB) Plc has  paperless transactions within the bank’s over 200 branches in the country.

The bank explained that customers no longer require deposit slips, withdrawal booklets, or cheque books to carry out over-the-counter transactions following the introduction of the innovation.

The bank said customers now have the opportunity to enjoy cardless banking experience by just using their fingerprints to withdraw and deposit cash at 575 select biometric Automated Teller Machine (ATM) points of the bank across the country and via biometric Point of Sales (PoS) terminals available within its branches.

The bank said its  575 biometric ATMs can be used by customers for intra and interbank transfers as well as change of PIN and data update. The simple, convenient and secure cardless services are available for use when customers do not wish to go out with their debit cards or these are inaccessible due to loss or damage.

It explained that to withdraw cash with fingerprint via its biometric ATMs, customers are required to visit any of the 575 select ATMs, and initiate the cardless menu. This is followed by selecting the fingerprint withdrawal option, then precisely indicating the 10-digit NUBAN account number. The customer can then place his or her right thumb on the fingerprint scanner for 7 seconds, press “proceed”, input the amount to withdraw and then take the cash