BrandArena: Skye Bank Introduces Electronic Payment Solution in Nigeria

Saturday 30 August 2014

Skye Bank Introduces Electronic Payment Solution in Nigeria

Skye Bank Plc has launched an electronic point of payment solution that will enhance more revenue for development for Ikorodu North Local Council Development Authority.

The solution is coming on the heels of dwindling allocations to all tiers of government in the country.

Unveiling the solution at Ikorodu, where it has been adopted for revenue collection, Group Head, Revenue Collection and Franchise, Skye Bank Plc, Mrs. Bola Allison, said the product will check leakages and corruption in the collection process.

The product known as point of payment (PoP) solution, ensures that citizens pay their taxes, levies and other statutory payments through customised point of payment terminals, which are administered by the council staff.

Allison explained that the solution would make payment convenient as eligible tax and levy payers would not have to leave their shops or go to the banks to effect payments. She said tax payers would be protected as the PoP system generates receipts as evidence of payment.

Furthermore, she said, Skye Bank was partnering Citiserve and GEMS3 to ensure the success of the new solution. Citiserve has the patent of the solution while GEMs is a non – governmental organisation that promotes tax payment by the citizens.

Executive Chairman of Ikorodu North LCDA, Prince Adeola Jokomba, urged the people of the area to embrace the new initiative as it would check revenue diversion and ensures the council has more money to undertake more developmental programmes.

He advised the people not to pay cash to anybody but to use the new payment solution to avoid being short-changed. He also asked the people to collect their receipts after making payments via the PoP solution as their proof of payments. The new payment system replaces the old system of paying tax and levies to revenue collectors, which was characterized by diversion, forgery of receipt and other negative side effects.

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