Connect with us

Monday 8th August, 2022

Business

Research Identifies KongaPay As Nigeria’s Leading E-Wallet Platform

Published

on

KongaPay, a Central Bank of Nigeria (CBN)-licensed fintech platform, has been identified as the leading provider of digital payment services for e-commerce transactions in Nigeria.

The rating came from Statista, a globally renowned market and consumer data firm.

The development justifies the huge popularity and impressive dominance KongaPay enjoys as a reliable, secure and trustworthy e-payment channel for many savvy users in Nigeria.

Furthermore, the platform, which ranks as one of the thriving subsidiaries in the Konga Group, Nigeria’s leading e-commerce giant, has once again lived up to its billing as one of the top enablers of online shopping in Africa’s biggest market.

“In 2020, e-wallet held about 10 per cent of digital payments in Nigeria. The most common service was KongaPay, which accounted for four per cent of the payments, while PayPal followed with three per cent,’’ research from Statista disclosed.

‘‘Overall, cash and bank transfers were the second most common payment methods in online retail after cards. However, data on credit card penetration in Nigeria show that the share of people owning a credit card is quite low,” it added.

KongaPay has recorded significant growth since the landmark acquisition of Konga by Zinox a little over three years ago. The platform has witnessed an impressive 700% growth in the number of existing wallets, with projections indicating a rise to over one million wallet holders by the end of 2021.

Instructively, the dominance of KongaPay in e-wallet transactions in Nigeria has hardly come as a surprise to the Management of Konga, which has disclosed that more landmark strides are on the way, not only for the fintech platform but for the other thriving verticals under the Konga Group umbrella.

ALSO READ  Vehicular Traffic: FAAN Advises Passengers To Get To Airports Early

Lending more insights into the massive groundwork going on behind the scenes to further grow its market share, Isa Aliyushata, Vice President, KongaPay is bullish about the chances of the platform taking its popularity as a trusted e-commerce payment vehicle to other African markets.

‘‘E-commerce is growing in Nigeria and compared to when the bug first bit, the proportion of those making online payments is also gradually hitting an upward curve. Now, for most e-commerce shoppers willing to make payments digitally, a few considerations are paramount. These include security, reliability, user-friendliness, convenience, and, of course, safety.

‘‘KongaPay offers all these and much more.

‘‘We have not only built a robust and reliable payment platform but have also done a lot of work in expanding the scope of services being offered by KongaPay.

“Today, with KongaPay, you can make cardless withdrawals for all banks in Nigeria, transfer money to individual accounts or various accounts at once, receive payments from customers, creditors or benefactors through a variety of means, buy airtime from various telcos or network providers such as MTN, Airtel, Glo and 9Mobile, etc., pay for or renew your internet subscriptions, recharge and pay for electricity digitally, renew your cable TV subscription including DSTV, GOTV, IrokoTV, etc., pay for flights, travel and hotel accommodation, fund your sports betting, lottery and gaming accounts and also use it as a mobile money wallet, among others.

“KongaPay is also in the forefront of promoting financial inclusion across the reached, the unreached and under-served segments of the populace. We are doing a lot in this regard through the engagement of KongaPay mobile money agents across the nooks and crannies of Nigeria, while also recently extending our services to Nigerians in the Diaspora, many of whom have often struggled to find a reliable way to extend support to their families and relatives back home, make payments to suppliers or even receive payment for the goods and services they sell here.

ALSO READ  African Tech Vision Selects 26 Startups For Its 2nd Mentorship Program

“We are confident of growing our share of the digital payments market, while also not ruling out expansion into other African markets,” he disclosed.

Launched in 2015, KongaPay debuted as a pilot product in partnership with Nigerian commercial banks in response to concerns expressed by customers about the confidentiality of their details while trying to make payment for products on the Konga website.

Since its inception, the platform has grown immensely and under the drive of the new management of Konga, is leading the new-found appetite for digital payments among e-commerce patrons and other subscribers, processing tons of transactions on a daily basis.

Also sharing his thoughts on the impressive growth trajectory of KongaPay and other subsidiaries within the e-commerce giant’s fold is Nick Imudia, Co-CEO, Konga Group.

“Alongside KongaPay, through which we are bringing more Nigerians into the financial inclusivity index, there is a lot more to be enthusiastic about within the Konga Group.

“Among these is our growing portfolio of physical stores spread across Nigeria’s vast landscape which also serve as collection centres for many shoppers; Kxpress, our in-house digital logistics and delivery company which has not only demystified logistics but also handles complicated projects and other deliveries for external parties; Konga Travel, a leading IATA-certified online travel and tours agency with a string of credible local and international awards to its name all within three years.

“There is also our latest entrant, Konga Health, a digital health care distribution chain which has garnered all statutory certifications and already partnered with the Association of Private Medical Doctors to boost the scope of quality healthcare products and supplies deliveries in Nigeria; as well as the soon-to-be-launched Konga Food, for which we have almost concluded a pilot phase.

ALSO READ  MTN Announces Equity Bookbuild To Qualified Investors Ahead Of Retail Offer

“Through these platforms and others which are still in the pipeline, we are raising the bar of standards and service delivery in the e-commerce sector and giving Nigeria and indeed Africa an indigenous brand they can be proud of,” he concluded.

 

Share Post

BANKING

FirstBank Branch, Head office, Not Sealed- Mgt.

Published

on

First Bank Nigeria has denied online media (not DigitalTimesNG) reports that its branch or head office was sealed at any time.

The bank, through a statement signed by Kehinde O Taiwo of the Marketing & Corporate Communications Department, described the report as “a misrepresentation of the facts and misleading.”

According to the statement, “Please be informed that the referenced story is a misrepresentation of the facts and misleading. Neither our branch nor head office was sealed.

“On the 4th of August, 2022, there was an unlawful enforcement at the Bank’s Coomassie House Branch of a garnished order issued by a Federal High Court sitting in Abuja which orders the Bank is still challenging in court.

“While the Bank has taken appropriate legal steps to deal with the situation, we wish to reassure our customers of unhindered banking services and the unique customer experience in all our branches and through our numerous alternative channels.”

 

Share Post
ALSO READ  Unity Bank Partners Dynamiss To Boost e-Learning In Nigeria
Continue Reading

BANKING

Firstmonie Agents Process Over 1 Billion Transactions, Amounting To Over N22 Trillion

-Reinforces Firstbank’s Leading Role In Promoting Financial Inclusion In Nigeria
• The Bank’s Firstmonie Agents play a critical role in promoting financial inclusion in the country
• The Bank currently has over 180,000 Firstmonie Agents spread across 772 Local Government Areas in Nigeria
• Since 2020, FirstBank has economically empowered thousands of its Firstmonie Agents with over 100 billion naira credit facility

Share Post

Published

on

Dr. Adesola Adeduntan, MD/CEO FirstBank Nigeria

First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider has announced that its agent banking network – Firstmonie Agents – spread across the nooks and crannies of the country has collectively processed transaction volume in excess of 1 billion, amounting to over 22 trillion naira.

The Bank currently has over 180,000 Firstmonie Agents, spread across the country’s 772 Local Government Areas.

Firstmonie Agents have been integral to bringing financial services closer to the under-banked and unbanked segment of the society, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments with no access to financial services.

Popularly referred to as the ‘Human ATM’, Firstmonie Agents are empowered to reduce their reliance on over-the-counter transactions while providing convenient personalized services.

Amongst the services carried out by the Agents include; Account Opening, Cash Deposit, Airtime Purchase, Bills Payment, Withdrawals and Money Transfer.

Through various empowerment and reward schemes implemented to put its Firstmonie Agents at an advantage to economically impact their immediate communities whilst importantly having their business sustained, the Bank’s Agent Banking scheme has remained a toast to Nigerians, irrespective of where they are in the country.

Amongst these schemes is the Agent Credit – launched in 2020 – which has had the Bank provide credit facilities to the tune of 238 billion naira to its teeming Firstmonie Agents.

Expressing his appreciation to the Firstmonie Agents, Dr. Adesola Adeduntan, CEO, FirstBank said “since the relaunch of our Agent Banking scheme in 2018, our Firstmonie Agents have played a vital role in bridging the financial inclusion gap in the country, as many more people have been able to undertake various financial and business transactions in cost-effective ways, thereby saving a lot of time and money in travelling over long distances for basic banking services.”

ALSO READ  NCC Reiterates Commitment To Sustaining Drive For Digital Economy Transformation

“We are delighted by the giant strides of our Firstmonie Agents in promoting financial inclusion and commend them for their efforts in taking banking to the doorsteps of Nigerians – irrespective of where they are – in a very effective way,” he concluded.

 

Share Post
Continue Reading

Business

Konga Kares, Med-Direct Africa Roll Out Free Delivery Of Quality Drugs

—Partnership will also ensure free delivery of Supplements and others to Nigerians nationwide

Share Post

Published

on

Konga, Nigeria’s leading e-commerce giant and Med-Direct Community Pharmacy, a 21st Century online retail pharmacy have announced a partnership to support the free delivery of highly discounted, quality drugs and medications to millions of Nigerians nationwide starting from Monday, August 15, 2022.

The project, a humanitarian initiative will be executed under the auspices of Konga Kares, the Corporate Social Responsibility (CSR) arm of the Konga Group, through which it has identified with and empowered critical segments of the population in need of a helping hand.

Through this initiative, Konga Kares and Med-Direct Africa are hopeful of crashing the cost of accessing quality medicare for millions of Nigerians by a minimum of 10% irrespective of their location nationwide, especially those on managed health conditions and reliant on routine prescription drugs and other medications at this challenging period globally.

Head of Corporate Communications for the Group, Mr. Gideon Ayogu disclosed in a statement made available to DigitalTimesNG that the mandate is to reduce the cost of quality drugs by a minimum of 10% off its current retail prices plus free deliveries to patients nationwide.

Also, he stated that interested and public-spirited Nigerians at home and in the Diaspora can seize this opportunity to purchase quality drugs and have same delivered at no cost to friends, families, the less privileged and communities of their choice across Nigeria.

‘‘We plan to extend additional incentives to Nigerian civil servants: retired and current, military and paramilitary service men, women and their families, lecturers in institutions of higher learning, civil servants, teachers and those who are above 60 years of age so that they can get genuine drugs at affordable prices delivered on time. We plan to save a minimum of three million Nigerians huge costs on quality drugs by the close of the year 2023.

ALSO READ  Kaspersky Partners DataGroupIT, Expands Presence In Nigeria, Ghana

‘‘These include a variety of prescription drugs for diabetics, high blood pressure patients, cholesterol and asthmatics, among others. Also available are nutraceuticals as well as an array of high-performing supplements for people who wish to enhance their health, lifestyle and beauty goals.

“For prescription drugs, shoppers can use the live chat feature to interact with experienced pharmacists and upload their prescriptions via the same channel for verification before supplies are made. For those on daily prescription drugs, we have deployed appropriate technologies and logistics to make sure their drugs are replenished one week before they run out of their supplies,’’ he affirmed.

The drugs are available for purchase on Med-Direct Africa’s e-Pharmacy portal: https://meddirectafrica.com/ or on Konga.com.

Ifeanyi Ogbolu, Head of Retail Operations, Med-Direct Africa, expressed delight with the impact the deal with Konga Kares would have on improving the health and well-being of Nigerians, revealing in addition that the partnership would equally benefit local and international donor agencies who wish to leverage this initiative to ensure free deliveries of medical supplies to the last mile for the needy or less privileged Nigerians.

‘‘Swift and cost-effective access to genuine drugs and other routine medications is one of the obstacles to quality healthcare delivery in Nigeria. Through this partnership with Konga Kares, Nigerians can now enjoy free delivery of quality prescription drugs, supplements, lifestyle products and other medications to their doorsteps nationwide.

‘‘We are delighted with this landmark development. It is in line with our mission of reducing the cost burden of drugs for Nigerians, while also providing quick access to these medications,’’ he enthused.

ALSO READ  NCC Reiterates Commitment To Sustaining Drive For Digital Economy Transformation

Continuing, he stated: ‘‘Donor Agencies – local and international – can also take advantage of this partnership to deliver drugs and other medical supplies in bulk to needy or beneficiary communities or to target groups and other users in record time and free of charge, wherever they may be in Nigeria.

“For enquiries, you can reach out to us via WhatsApp on +234 907 729 9649 or through the short link: https://wa.me/message/2NIMVAXER4VBD1

Konga Kares, a CSR arm of the Konga Group, has been at the forefront of supporting the needy and other identified target beneficiaries in Nigeria.

It added exceptional value to the nation during the COVID-19 regime by supplying quality food and drugs to thousands of Nigerian families free of charge. It is also known to discount prices for essential products to families during the Christian and Moslem fasting and festive periods.

Share Post
Continue Reading
TechExtra3 days ago

CloudFare DDoS Report Shows Q2 of 2022 Witnessed Largest DDoS Attacks Ever

Telecoms3 days ago

Nokia Forecasts 5G Subscriptions To Reach 263 Million In MEA By 2026

BANKING3 days ago

FirstBank Branch, Head office, Not Sealed- Mgt.

Telecoms4 days ago

NCC Restates Commitment To Research Funding

TechExtra4 days ago

Startup Ecosystem: NITDA DG Engages Key Stakeholders In Lagos

Opinion4 days ago

The Savvy Story Of The National Pension Commission (PENCOM)

BANKING4 days ago

Firstmonie Agents Process Over 1 Billion Transactions, Amounting To Over N22 Trillion

BROADCASTING4 days ago

NBC Fines DSTV, Trust TV, 2 Others N20m For ‘Terrorism Glorification’

Business5 days ago

Konga Kares, Med-Direct Africa Roll Out Free Delivery Of Quality Drugs

BANKING5 days ago

GAIM 5: Fidelity Bank Rewards 10 Customers In Savings Promo

BANKING5 days ago

Stanbic IBTC Inks Deal With Bento Africa To Offer Value Added Services

Fintech5 days ago

UMBA, US-Based Fintech Acquires Majority Stake In Kenya’s Daraja Microfinance Bank

Fintech5 days ago

MIGA Issues $200m Guarantees To Boost Digital Financial Services In Sub-Saharan Africa

BROADBAND5 days ago

MTN Introduces Home Broadband Services

TechExtra5 days ago

Pantami Reaffirms FG’s Commitment To Indigenous Telecom Content Promotion

NITDA5 days ago

nitda achievements 2021

TechExtra6 days ago

AWS Reports 2Q Revenue Of $19.7B, Beats Analysts’ Expectations

Business6 days ago

Nokia Signs 5-Year Deal With AST SpaceMobile

Business7 days ago

9mobile Reaffirms Support For Nigerian Journalists With Training On Content Leveraging

TechExtra1 week ago

African Teachers Want To Become Future-Fit With More “Soft Skills” Training- HP Study

BROADCASTING2 years ago

ENTERTAINMENT: ‘Turn Up Friday With Pepsi’ Premieres On Africa Magic Channels

BROADCASTING2 years ago

StarTimes Announces Subscription Price Increase, Addition Of New Channels

BROADCASTING2 years ago

MultiChoice Now Offers Auto-Renewal On Subscriptions To DStv & GOtv Customers

BROADCASTING1 year ago

tvN, Korea’s Number 1 Entertainment Channel Debuts On DStv March 1

Telecoms2 years ago

(APPLY): NCC Invites Proposals For Telecoms-Based Research Innovation 2020

Business2 years ago

Samsung May Not Include Chargers With Some Phones Starting 2021

BIG STORY2 years ago

One Year As NITDA’s DG: How Kashifu Abdullahi Is Transforming Nigeria’s IT Landscape (Part 1)

BROADCASTING2 years ago

IK Osakioduwa Hosts, As Obi Asika, Others Unveiled As Judges For Nigerian Idol Season 6

BROADCASTING2 years ago

MultiChoice Begins Broadcast Of uLesson Educational Content On DStv, GOtv

BROADCASTING2 years ago

MultiChoice Adds ESPN To Dstv And Gotv Sports Offering

Business2 years ago

Paint Roxettes Signs Nollywood Actor, Yul Edochie As Brand Ambassador

Opinion2 years ago

Africa In Motion: Accelerating Africa’s Digital Future

Opinion2 years ago

One Year At NITDA: Kashifu As A Vindication Of Youth Excellence In Governance

Innovation2 years ago

NITDA Pledges Full Support To Nigeria’s Tech Community For Innovation Against COVID-19

Business2 years ago

BREAKING: Plentywaka Seals Deal With Innoson Motors Ahead Of Expansion To South-Eastern Nigeria

HOME2 years ago

Girls In ICT Day: NITDA Highlights The Need To Promote Career In Information Technology For Girls And Women In Nigeria

Business2 years ago

BREAKING: Crowdyvest Holdings Changes Name To EMFATO Holdings

Telecoms2 years ago

5G Services Go Live In Madagascar, As Telma Launches Ericsson-Powered Network In The Country

Business2 years ago

After Okada Ban, Opay Confirms Shift To Delivery, Puts Motorcycles Up For Sale

BROADBAND2 years ago

Maska, NCC’s Executive Commissioner Chairs Ministerial Broadband Implementation Steering Committee

Advertisement

Trending