The Managing Director of Remita Payment Services Limited, Deremi Atanda, has stressed the need for quality infrastructure upgrade to support the growth of digital payments in Nigeria.
This was during the first edition of the SystemSpecs Tech Innovation Webinar Series held in partnership with FintechNGR, accessed by The Punch.
The event, themed ‘Cashless policy: Sustaining digital payments beyond the currency redesign,’ was about building digital infrastructure that supports cashless policy and digital payments in Nigeria.
This maiden event was attended by several fintech industry operators, including the Director of Business Innovation Accelerator, Lagos Business School, Dr Henrietta Onwuegbuzie; Founder/CEO Bankly, Tomilola Majekodinmu; and the Managing Director, SystemSpecs Technology Services, Demola Igbalajobi.
At the event, Deremi Atanda highlighted the four A paradigm as crucial to the growth of digital payments in Nigeria.
He said, “Provide infrastructure to the last mile, ensure there is awareness, and that is where we talk about the four A paradigm.
“The first one is ‘awareness’, people must know what there is; the second is ‘adoption’; the third is ‘acceptance’ and the fourth is ‘acculturation’ making it a way of life where you keep reinventing the first three As.”
Deremi also emphasised the importance of the cashless policy in promoting financial inclusion, reducing the cost of currency management, and enhancing the efficiency of the payment system.
He stressed that the cashless policy would not succeed without key upgrades to Nigeria’s infrastructure.
The SystemSpecs Tech Innovation Webinar Series provided a platform for experts in the fintech industry to discuss how to sustain digital payments in Nigeria.
Deremi Atanda’s call for quality infrastructure echoes the sentiments of other industry operators, who recognise that infrastructure development is crucial to the success of the cashless policy and the growth of digital payments in Nigeria.
Remita is a payment platform in Nigeria that allows individuals and organizations to make and receive payments.