The acceptability of payment innovation in most African Countries is said to be on the increase owing to the fact that the traditional means of payment is driving towards a reference score of dissatisfaction thus, bringing into limelight new ways to make payments and invariably becoming a new driver of growth. Most BOFI(S) dances to the tune of payment innovation incorporating advanced payment services to meet Customers’ expectations. Payment Innovation gives a full level of credence to the rate at which financial products and services are swiftly assessed. The payment innovation acts as a guiding tool against competitors and ultimately, walking through the lane of financial intermediation (connecting the surplus and deficit units of the economy), the payment innovation is never found astray.’
The digital payment system in Africa is credibly changing and as well said to be driving new customers’ expectations in banking products and services. Banking customers want their buying experience to be efficient, intuitive and secured.’
Riding through the lane of chip, pin and contactless technologies which fall under the umbrella of EMV cards (Europay, MasterCard and Visa) and of which has its origin from the UK, has helped in the global reduction of fraud compared to the magnetic stripe card transactions that rely on the holder’s signature and visual inspection of the card to check for features.’
The payment innovation has brought more good than harm in African countries in terms of increasing cost savings, efficiently and accessibly, increasing e-commerce and ultimately brought about global possibilities (Payments across borders).’
Over the past two decades, the Central Bank of West African States (BCEAO) has been rolling out a series of reforms aimed at modernizing the West African Economic and Monetary Union’s (WAEMU) payment systems, automating trading and settlement systems and developing an interbank card payment system.’
This advanced system of transaction has helped most financial institutions digitalize in a smart, modular and highly automated way by providing a rich set of Application Programming Interfaces (API). These API integration enables the banks and other payment industries expand to an array of distribution channels including fintech and to offer new user experiences to their customers (IoT, Blockchain, AI, Mobile Apps) etc.’
Payment Innovation Forum is a conference which is designed with the intent of pooling experts and professionals in the banking and payment industry across Africa and beyond. The heart of this payment innovation forum is to have extended knowledge about vital issues in the payment landscape.’
The payment innovation forum is specifically organized in order to provide participants with a remarkable opportunity to learn about prevailing frameworks and trends from experienced senior-level decision-makers, who will share their thoughts and findings on topics regarding open banking APIS, latest fintech, payments regulations, digital transformation, real-time payments, authentication, new innovations and many more.’
Payment Innovation Forum will connect key players and leading experts from the banking and payments industries to discuss trending issues in the payment Landscape.’
This event is unique and gives a timely opportunity to participate in the discussion and find solutions that fit your customer experience and delivery goals and responsibilities. It is also an all-in-one place event for those, who want to learn about global trends, upcoming payment innovations, cyber/mobile issues and challenges that can be made into opportunities.
