Business News Nigeria

Quickteller Stops Collection of N100 Transaction Fee

Quickteller Stops Collection of N100 Transaction Fee

Owners of foremost payment platform in Nigeria, Quickteller Paypoint, Interswitch Financial Inclusion Services (IFIS), have announced that customers using its platform would no longer be charged a fee to complete some transactions.

This is because the firm has sealed deals with key billers in various sectors (Betting, Energy and Electricity, Cable) companies that will enable customers transacting on its platform to conduct financial transactions at no charge.

Transactions that will enjoy this new benefit include utility bill payments, betting, wallet funding and cable TV subscription.

Before now, customers were required to pay a fee of N100 on each payment transaction, but Quickteller has now paired with some of the organisation’s biller partners to bear the transaction cost.  As a result, customers can now make most of their transactions at no additional cost to them.

While this takes off the burden of transaction fees from the customers, it has been carefully processed to safeguard Quickteller Paypoint agents, such that they are able to retain their customary commission and other incentives.

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Titilola Shogaolu, Divisional Chief Executive Officer (DCEO) of Interswitch Financial Inclusion Service, said: “At Interswitch Financial Inclusion Service, we are not only committed to closing the financial exclusion gap, we are continuously working to provide convenient services that will enhance the adoption of digital payments and this latest incentive is just one of the many ways through which we are achieving this”.

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