Connect with us

Africa Region

Lagos State Govt Unveils EMV Contactless Card For Transit Payment System

Published

on

Over 500,000 daily commuters on the Lagos Bus Rapid Transit (BRT) system can now board buses using a contactless card payment system. It is an enhancement which makes the Lagos Connect card launched last November by Governor Akinwunmi Ambode usable on mass transit systems anywhere in the world.
Powered by Lagos State, LAMATA, Primero Transport Limited and Sterling Bank Plc, the enhanced electronic payment system was launched in partnership with leading global payment and technology companies –Mikroelektronica, MasterCard, E-Purse Systems, Monet Plus, NIBSS, Epay-plusand SecureIDin Lagos. It allows commuters who ride on BRT buses to make payments via their Lagos Connect contactless cards powered by Farepaythat have either been pre-loaded or linked to a funded bank account.
Largest of its scale in Africa, the Europay MasterCard and Visa (EMV) compliant contactless payment system was designed to speed up commuting time by making payment easier and faster because it empowers commuters to just tap their cards on a console to board a BRT bus. It eliminates the high turnaround time associated with cash-based ticket purchases.
The launch of the Lagos Connect EMV compliant contactless card powered by Farepayon the BRT system puts Lagos ahead of some mega cities including New York in terms of implementation.
Abubakar Suleiman, MD/CEO, Sterling Bank said the bank is intent on achieving its primary role of financial intermediation through intervention in sectors that will create jobs and bring about economic growth for the country. He identified such sectors as health, education, agriculture, renewable energy and transport. Adding that this explains the bank’s commitment to the transformation of the transport sector.
Abubakar stated that the bank is proud to collaborate with Lagos State, LAMATA, Primero, E-Purse Systems and MasterCard to launch a multimodal contactless payment card for use on mass transit buses, ferries and trains in the Lagos metropolis.
“This is another major step forward in enhancing the commuting experience and social well-being of more than 80 per cent of Lagos residents who rely on public transport daily. Sterling Bank is committed to improving standards in a sector that is a crucial of driver economic growth and determinant of social well-being for both urban and rural residents.
“We are driven by the understanding that an efficient transport system facilitates trade, reduces poverty, creates economic and social opportunities while enhancing human development through greater mobility. Working with our partners, our vision over the next few years is to understand the peculiarities of various locations and replicate this kind of solution across the nation. Transformation of the transport value chain is an imperative for us at Sterling Bank,” he informs.
He especially commended the Lagos State Governor, His Excellency, Akinwunmi Ambode for creating the enabling environment with the launch of the Lagos Connect Card in November 2017 which has made the enhancement of the system to EMV standard possible thereby putting Lagos amongst the most advanced cities for transit payments globally.
Chief Demola Seriki, Chairman, Primero Transport Limited, described the launch of the enhanced Lagos Connect EMV compliant contactless payment system powered by Farepayas symbolic. “We are delighted to unveil the enhanced Lagos Connect EMV compliant contactless payment system powered by Farepay. It is indicative of efforts to eliminate the inefficiencies associated with public transportation in Lagos. A lot of work is being put into transforming public transportation into a world class and sustainable industry which brings comfort to commuters and creates economic and social opportunities.
“The BRT system was initiated by the Lagos State Government as part of the strategies to modernise the public transport system in Lagos to ensure it compares with what obtains in other major cities around the world. What we are witnessing today is a major stride towards providing efficient service that will encourage patronage of the Bus Rapid Transit by middle class commuters thereby reducing the number of private vehicles on our roads.”
On her part, OmokehindeAdebanjo, vice president and area business head, West Africa, Mastercard said, “Technology has the potential to shape the way African’s live, and the importance of removing cash from key sectors remains a critical focus for Lagos State and the Federal Government of Nigeria. The contactless solution has the potential of not only solving challenges faced by other channels of transport, but it can also be easily implemented in sectors such as retail and government services. This is an important step to creating a smarter Lagos, and a Nigeria that is less dependent on cash.”

Continue Reading
Advertisement Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Action

Schneider Electric Targets 900m Africans With Sustainable Energy Solutions

Published

on

, SiliconNigeria

Schneider Electric said it is targeting 900 million Africans including 95 million Nigerians with universal access to sustainable energy solutions in rural communities by fostering a greener and more resilient future.

The global energy provider said it is committed to providing access to clean electricity to 50 million by 2025, and 100 million by 2030. To date, 46.5 million people have already benefited from Schneider’s energy access solutions.

The country president, Schneider Electric West Africa, Ajibola Akindele, speaking at the Energy Access Investment Forum (EAIF) conference, held in Lagos, recently, said they have a wide range of Access to Energy solutions suitable for electrifying small homes and micro-enterprises, fundamental public services, up to villages and communities.

“Our mission is to be a global digital partner for sustainability and efficiency, empowering all to make the most of our energy resources, bridge progress and sustainability for all. At Schneider Electric, we call this Life is On,” he said.

Director MEAS, Access to Energy, Schneider Electric, Thomas Bonicel, speaking on Schneider Electric’s Access to Energy (A2E) program, emphasized the program’s mission to empower communities through clean and reliable energy access including training & entrepreneurship programs, social & inclusive business, and investment funds.

“There are over 700 million people across the world without access to energy, 600 million in Africa and 95 million in Nigeria; at Schneider Electric, we have decided to deploy our Access to Energy solutions in Nigeria.

“Our major KPI is the impact measured by the quantity of connected people and with Villaya Flex, our latest innovation, we are ready to support independent electricity access and renewable energy adoption in remote villages and off-grid communities,” he said.

The commercial leader, Microgrid, Schneider Electric, Teina Teibowei, said, Villaya Flex, a packaged, comprehensive microgrid solution, is specifically designed for rural, off-the-grid communities and aims to ensure a dependable and sustainable energy supply to meet daily needs and power productive economic activities in these

Teibowei also noted the Nigerian government and the World Bank’s joint efforts to extend electricity access to rural Nigerian villages, adding that  Schneider Electric’s Villaya Flex microgrid solution is well-positioned to tackle the electrification challenges of these remote communities, potentially serving as a valuable asset for the World Bank’s Nigeria Distributed Access through Renewable Energy Scale-up (DARES) project.

Continue Reading

Africa Region

Mastercard and Payment24 to Boost EMV Adoption in Africa, Others

Published

on

, SiliconNigeria

Mastercard and Payment24 are extending their engagement across Eastern Europe, Middle East and Africa (EEMEA) to help bolster security and drive innovation within the fleet and fuel payment industry across the region.

The EMV standard, now being implemented in over 80 markets, has dramatically reduced the incidence of counterfeit card fraud associated with magnetic strip cards, saving hundreds of millions in potential losses.

This partnership not only drives innovation in the fleet and fuel payments sector, but also aims to speed up the transition to the secure EMV standard and help fleet operators reduce the risk of fraud associated with magnetic strip fleet cards.

This expanded collaboration extends the geographical reach of a proven solution and delivers modern fleet and fuel payment solutions to banks and fleet card issuers throughout the region. While drivers benefit from a quick, secure, and seamless way to make payments, fleet operators can now monitor driver spending in real-time, set expense limits, and minimize the need for cash.

“By combining Mastercard’s leading payment technology with Payment24’s innovative and proven fuel payments platform, we deliver a solution for the region that enhances security and adds significant value and convenience for customers,” said Clyde Rosanowski, Senior Vice President of Commercial Solutions, EEMEA at Mastercard.

Continue Reading

Technology

WATRA Advocates E-Governance and Technology to Boost Jobs for Youths In Nigeria, W/Africa

Published

on

, SiliconNigeria

WEST Africa Telecommunications Regulators Assembly (WATRA) has advocated greater adoption of e-Governance and concerted effort to expand the digital economy in Nigeria and other countries of West Africa. 

The executive secretary of WATRA, Aliyu Yusuf Aboki stated that this will boost investment and create quality jobs for young people in Nigeria and West Africa. He stated that despite the comparatively low rate of literacy in West Africa, there is a very wide scope for digitizing government services. 

He said he sees the enormous opportunity for e-governance as he travels across the 15 ECOWAS states. He explained that governments at all levels could increase their taxes dramatically by digitizing the identities of taxpayers and tax collection processes. He also emphasized that there is a great opportunity to expand access to education and healthcare through digital tools. 

 WATRA is a regional organisation that has the mandate to promote the adoption and harmonization of regulations that stimulate investment in telecommunications and increase affordable access for citizens.

 The WATRA boss cited the example of India where over 1 billion citizens, including the poorest citizens, could easily receive or make payments using their telephones through a government-supported platform, the Unified Payments Interface (UPI).

 Other government-backed digital schemes in the country enable municipal governments to manage healthcare online and citizens to store and readily access government documents such as tax returns on their phones. 

Aliyu pointed out that the digitalization of government services has transformed the lives of the 273 million Indians who are classified as living in poverty. While noting progress in the adoption of ICT to deliver and manage government services in West Africa, the WATRA boss emphasized the need to scale up existing schemes in the sub-region. 

Continue Reading

Popular News