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E-PPAN, e-commerce coys to collaborate to boost activities

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 The Chief Executive Officer CEO E Payment Providers Association of Nigeria E PPAN Mrs Onajite Regha on Monday said that the association would collaborate with e commerce companies to boost e commerce in Nigeria Regha said this in an interview with the News Agency Nigeria in Lagos at a Stakeholders Forum with the giants in the e commerce industry She said that the collaboration would proffer solutions where the Nigerian populace could take advantage of the online market place as one of the major alternatives for shopping E PPAN held a Stakeholders Forum with the giants in the e commerce sector to reach out to them on how the e payment industry and the e commerce sector can further work together in driving e commerce growth in Nigeria Even as the cashless Nigeria initiative is re introduced The meeting had representatives from Konga E PPAN OLX SLOT PayPorte MyStore and Kara in attendance Regha said According to her there were 96 million internet users and the penetration has substantially brought a huge development opportunity for an exponential increase in the level of e commerce in Nigeria The CEO said that E PPAN was set to work hand in hand with the e commerce sector in making sure that the electronic payment end of the chain was efficient as it would further promote the cashless initiative She said that challenges faced by the e commerce had hindered industries from maximising the huge potential of internet penetration in the country Regha highlighted the challenges as lack of adequate technological infrastructure fear of inadequate online security of customer s data when making payments and the validation of customer s identity She said that the concern by e commerce companies was the recently re introduced CBN policy on cash handling charges which would have an effect on their business in a society where the economy is highly cash dependent Regha said that many e commerce companies adopt the method of Pay on Delivery PoD adding that it would lead to exceeding their daily limits on cash when aggregated E PPAN and the e commerce companies agreed that the impending factors stated above need to be resolved for e commerce to fully play a vital role in Nigerian economy As a starting point collaboration among key stakeholders is imperative to the growth of e commerce in Nigeria On behalf of the e commerce Regha said that other solutions would be to engage regulators and decision makers to begin to address the challenges faced in the e commerce industry holistically from policy and developmental point of view As an immediate action plan the delegates of the e commerce companies decided to tackle the challenge of validating customers identity using existing database like the BVN She said that this would help retailers to reduce the occurrence of fraudulent transactions while boosting the trust and confidence of customers in the e commerce sector Edited by Adeleye Ajayi
E-PPAN, e-commerce coys to collaborate to boost activities

1 The Chief Executive Officer (CEO), E-Payment Providers Association of Nigeria (E-PPAN), Mrs Onajite Regha, on Monday said that the association would collaborate with e-commerce companies to boost e-commerce in Nigeria.

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2 Regha said this in an interview with the News Agency Nigeria in Lagos at a Stakeholders’ Forum with the giants in the e-commerce industry.

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3 She said that the collaboration would proffer solutions where the Nigerian populace could take advantage of the online market place as one of the major alternatives for shopping.

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4 “E-PPAN held a Stakeholders Forum with the giants in the e-commerce sector to reach out to them on how the e-payment industry and the e-commerce sector can further work together in driving e-commerce growth in Nigeria.

5 “Even as the cashless Nigeria initiative is re-introduced.

6 “The meeting had representatives from Konga, E-PPAN, OLX, SLOT, PayPorte, MyStore, and Kara in attendance,’’ Regha said.

7 According to her, there were 96 million internet users and the penetration has substantially brought a huge development opportunity for an exponential increase in the level of e-commerce in Nigeria

8 The CEO said that E-PPAN was set to work hand in hand with the e-commerce sector in making sure that the electronic payment end of the chain was efficient as it would further promote the cashless initiative.

9 She said that challenges faced by the e-commerce had hindered industries from maximising the huge potential of internet penetration in the country.

10 Regha highlighted the challenges as lack of adequate technological infrastructure, fear of inadequate online security of customer’s data when making payments and the validation of customer’s identity.

11 She said that the concern by e-commerce companies was the recently re-introduced CBN policy on cash handling charges which would have an effect on their business; in a society where the economy is highly cash-dependent.

12 Regha said that many e-commerce companies adopt the method of Pay on Delivery (PoD), adding that it would lead to exceeding their daily limits on cash when aggregated.

13 “E-PPAN and the e-commerce companies agreed that the impending factors stated above need to be resolved for e-commerce to fully play a vital role in Nigerian economy.

14 “As a starting point, collaboration among key stakeholders is imperative to the growth of e-commerce in Nigeria.

15 On behalf of the e-commerce, Regha said that other solutions would be to engage regulators and decision makers to begin to address the challenges faced in the e-commerce industry holistically from policy and developmental point of view.

16 As an immediate action plan, the delegates of the e-commerce companies decided to tackle the challenge of validating customers’ identity, using existing database like the BVN.

17 She said that this would help retailers to reduce the occurrence of fraudulent transactions, while boosting the trust and confidence of customers in the e-commerce sector.

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19 (Edited by: Adeleye Ajayi)

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