By Akanimo Sampson
Sterling Bank Plc has introduced SocialPay, a secure and convenient solution that allows buyers and sellers to make and receive payment on social media with just a link.
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On its website, Sterling Bank says, ‘’our customers are our number one priority and we value their feedback and ideas. We’ve made sure there are plenty of ways to stay in touch.
‘’Sterling Bank Plc “Your one-customer bank” is a full service national commercial bank in Nigeria. In over 60 years of operations, Sterling Bank, formerly NAL Bank, has evolved from the nation’s pre-eminent investment banking institution to a fully-fledged commercial bank; and completed a merger with four other banks – Indo-Nigeria Merchant Bank, Magnum Trust Bank, NBM Bank and Trust Bank of Africa – as part of the 2006 consolidation of the Nigerian banking industry
However, the new solution provides secure online payment solutions to physical store owners and retailers selling on Facebook, Instagram, WhatsApp, and Twitter.
In a statement the bank says, once subscribed to the solution, they can create and share payment link to get paid instantly for their products and services.
Head of its Divisional Retail and Consumer Banking, Shina Atilola, said SocialPay was introduced to make payment easy for Nigerians engaging in digital commerce.
“Our customers, both retailers and buyers, are now selling and making purchases through social networks. Following this cue, we introduced SocialPay to make it convenient to make and receive a payment within that same ecosystem”, Atilola said.
Continuing, Atilola said SocialPay is a secure payment solution for businesses selling online through websites, social media pages/ handles, or WhatsApp for Business.
“With social media networks becoming the centre of everyday life for almost 25 million Nigerians, SocialPay will ensure that these digital natives can make quick purchases and receive payments from social stores.
“SocialPay makes payment as simple as clicking a button, and the money is immediately transferred. The biggest benefit of the payment solution is that the transacting parties (sellers and buyers) are protected.”
Beyond its quick payment and funds receipt capability, SocialPay also eliminates the invoicing challenge facing thousands of micro retailers on social media.
Within the application, business owners, offline and online, can send and manage their invoices on the go at any time. This ensures they get paid by their customers, who perceive them as credible because they provide documentation of services rendered and payment owed.
