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Electronic payment service has become a global phenomenon. But in Nigeria there is still a long way to go as some groups of people prefer to transact

Introduction | Business Insider Africa

Obinna Chima writes on the benefits of the recently introduced Nigeria Quick Response Code in the country, which is expected to improve settlement, promote financial inclusion, help bring cash-related activities into the ecosystem for a better economy and reduce the cost of processing cash There is no doubt that over the years, Nigeria has made noticeable progress in its desire to create a robust payment system through several reforms targeted at restoring confidence in the system. Indeed, a sound payment system infrastructure, where operators and customers can transact business with confiden...

RBI proposes 24x7 helpline for digital payment services February 05, 2021 All bank branches to be brought under CTS clearing mechanism The Reserve Bank of India on Friday announced setting up of a 24x7 helpline for digital payment services as well as enabling participation in CTS clearing across all bank branches in the country. Noting that its Payment Systems Vision document envisages setting up a 24x7 helpline for addressing customer queries on various digital payment products, the RBI said the helpline will, in addition to building trust and confidence, also reduce expenditure on both fi...

Synopsis As per the RBI statement, the major payment operators are required to set-up the mechanism by September, 2021. Going forward, the facility of registering and resolving the customer complaints through the helpline shall be considered, the statement added. Getty Images Guidelines will be issued on outsourcing for Operators and Participants of Authorised Payment Systems. In another move to strengthen the digital payment services, the RBI Governor Shaktikanta Das has announced the setting up of a 24X7 helpline for digital payment services. The announcement was made via Statement on Deve...