Financial Inclusion and Digital Payments in Nigeria
Introduction In 2015, Robotic Systems Limited set out to build a world-class standard digital payment system to rival Paypal in Nigeria by taking advantage of mobile phones. Initially, we thought this was going to be a mobile app technology but two years later, it turns out that it is really a USSD technology. The MPesa in Kenya runs on SMS and USSD and it is no accident. This is the infrastructure that Africa is currently ready for. Fast-forward to 2018, we have built USSD technology that is the first of its kind in Nigeria
Conclusion All-inclusive digital payments in Nigeria has to factor in security, accessibility and infrastructure as core success factors. Currently USSD infrastructure is the most promising strategy and Secapay presents a top industry standard to the USSD approach that solves the major challenges in USSD technology -- security and usability-wise. The SIM-SWAP security/protection through unique customer behavioral profiles plus session recovery and customizable USSD fronts are all but a few highlights of what can be achieved on USSD. There is still a lot more to be done however, for example USSD prompts could be used as a security pin confirmation during the last leg of payments via USSD, web-level competitive analytics can be developed for USSD, etc. By leveraging her partner, AfricasTalking USSD technology -- which provides sandboxing and advanced USSD session logging; Robotic Systems was able to start with an advantaged position in USSD Development. We need more companies like AfricasTalking in Africa and Robotic Systems will continue to work hard to maintain a leading pace on USSD payment technology.
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