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In this conversation, we chat with Alisa Chinedu, Retail Manager at Remita. Remita is a payment solution platform that helps individuals and businesses make and receive payments, pay bills, and manage their finances; making it key to supporting the Nigerian payments and fintech ecosystem.
Alisa Chinedu is a seasoned IT, business, and marketing strategist with extensive experience in financial technology and back-office automation. With a degree from the Federal University of Technology, Owerri, Alisa has developed key expertise in innovation advisory and business strategy. As an avid tech enthusiast, Alisa has been part of teams driving key innovative initiatives within the Fintech Ecosystem. He is a core believer in democratizing payment and leveraging indigenous talent. Alisa has extensive experience in the financial technology space and currently manages the retail business at Remita Payment Services Limited, a leading Nigerian fintech company that processes more than US$45 billion in annual payments volume.
Topics: Payments, Paytech, CBDC, Digital Wallets, Fintech, banking
1’29”: Remita: what it is, what it does, how it got started, and how it works with corporates
3’31”: Exploring Nigerian digital payment systems: A closer look at Remita and its role in commerce and E-commerce
6’26”: Understanding the dynamics of the banking system: An exploration of banking concentration, consumer banking situations, and the integration of digital wallets
9’03”: Exploring mobile wallets and smartphone access: Understanding digital funds transfers, population coverage, and the role of USSD in mobile banking
12’09”: Dissecting merchant codes and regulatory landscapes: Understanding the interface between feature phones, financial institutions, and mobile money providers amidst government regulation
16’32”: Deciphering Nigeria's economic landscape: Insights into inflation, impact of COVID-19, and the transition from cash to digital currency amidst economic fluctuation
21’06”: Delving into eNaira: Understanding CBDC adoption, wallet accessibility, transaction volume, and user experience amidst evolving digital currency landscape
24’39”: Remita's role in eNaira adoption: Understanding the integration process, contribution to design ideation, and the function of financial agents in product distribution
28’35”: CBDC and social services: Examining government utilization of digital currency for welfare distribution, transaction tracking, and understanding the underlying technical infrastructure
33’04”: Exploring bank relations with CBDC: Assessing retail and wholesale models, potential disintermediation concerns, and bank perspectives on eNaira adoption
35’21”: Envisioning the future of eNaira: Assessing current adoption, potential for market penetration, and the multichannel approach to CBDC distribution
39’52”: The channels used to connect with Alisa & learn more about Remita
Sneak Peek:
Alisa Chinedu: …the movement for demonetization or really digitization of payment for countries like ours, it's that for us, for instance, for CBN, it gets a very expensive to print cash. We spend billions of dollars of the printing cash, that's money that could have gone into other things. So, if we are demonetizing, or digitizing payments, the more we digitize the less it's a cost to run the economy. That's one. Then the other reason is security as well, that cash, it's not very traceable. So, if you have your economy pays on a lot of cash, there could be several things that we happening, security wise that the central bank for instance won't be able to track. And also for economic growth for instance, in terms of cross border transaction and in terms of cross border relationship, if the economy is heavily cash based, it'll make cross border trade very difficult.
Traders in Nigeria need to be able to easily move money from Nigeria to the rest of the world for businesses which should eventually grow the economy. So in terms of that, there's a need to properly digitize the system so it's easier to move money around. And also in terms of building an efficient payment system, if…
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