NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, May 11, 2015

Mobile payment system just got more convenient in Nigeria as a consortium of six banks have inaugurated the Unified Payments’ electronic money transaction scheme known as PayAttitude.

First Bank of Nigeria Ltd, Zenith Bank, Access Bank, Diamond Bank, Skye Bank and United Bank of Nigeria, last week, collaborated with Unified Payments to drive novelty in service delivery and convenient mobile payment system .

The GMD/CEO, First Bank, Bisi Onasanya, who spoke at the official launch of the product affirmed that Unified Payments and PayAttitude would solve challenges that have plagued the domestic payments ecosystem.

With PayAttitude, customers and merchants have no worries of network availability. PayAttitude guarantee successful retail payments of PoS terminals without depending on online real-time communication. Transactions are authorized offline up to the value of the customer’s mobile wallet subscription with the bank. To ensure security and no fraud transactions, PayAttitude transactions are Chip and Pin enabled and holder’s unique Pin must be entered on the acceptance device before transactions are approved. Customers only have to protect their pins.

PayAttitude is the first-ever inter-operable multi-bank and mobile network-independent NFC-based contactless solution for m-Commerce and m-Banking.