Heritage Bank reiterates commitment to e-payment

Heritage Bank Plc is com-mitted to innovative banking services with its transparent MasterCard.

Its Head of Corporate Communications, Fela Ibidapo, disclosed this in a statement over the weekend, where he highlighted the philosophy behind the bank’s e-payment offerings.

According to him, there is more to e-payment than Nigerian banking customers are currently enjoying. He promised achieving greater heights in e-payment services, which deliver unparalleled convenience and security through the Heritage Bank Transparent MasterCard.

Ibidapo said to own a Heritage Bank Transparent MasterCard is easy, as the card comes with no additional cost beyond the cost of applying for the average MasterCard.

He observed that there was a huge difference between the current growth in volume of e-payment in the country and the potential available, if the number of unbanked Nigerians with access to mobile telephone services is anything to go by.

According to him, while the volume of e-payment in Nigeria grew from N18.1trillion in 2012 to N35.1trillion in 2014 with transaction through Point of Sale (POS) also increasing from N48 billion in 2013 to N312 billion in 2014, the growth has not mirrored the huge population of mobile phone users in the country, which currently stands at more than 105 million while about 60 million Nigerians, who do not have bank accounts, have phones.

He also said innovation was inevitable in the banking industry due to changes in dynamics across the globe, which have penetrated the Nigerian banking industry and  are driven by forces of globalisation, self-service mobile devices and regulation.

The impact of these changes on the Nigerian banking landscape, he said, has reflected in the sharp increase in the growth of electronic payment services between 2012 and 2014 in the country. He remarked that e-payment is now a commodity and innovative e-payment is the way to go.

He said Heritage Bank has always been driven on the path of continuous innovation, transformed its interior of banking halls and set out deposit machines in all its branches nationwide.

Ibidapo also observed that Heritage Bank has equally launched transparent MasterCard in Nigeria and transformed small and medium scale enterprise (SME) banking approach.

“The Heritage Bank Transparent MasterCard distinguishes its customers. It gives them the prestige and excitement of being part of innovation, which is what the card represents. The youths as well as adults will find it very attractive,” he said.

Ibidapo added that the bank is the lender of the future because its style is quite different and it caters for everyone, whether young or old.