New digital wallet set to raise banking competition

A digital app that enables users to receive and send money for free and perform other banking services seamlessly has taken off, raising the emerging competition for banking services.

The app was unveiled by Nigeria’s payment solution provider, PurplePay, but it targets the huge global electronic payment ecosystem hopes to leverage and revolutionise the emerging peer-to-peer transfer lifestyle.

The digital payment platform promises to offer consumers’ experience and deliver seamless transactions to change the way businesses and other organisations send and receive funds.

It is the pocket-friendly, convenient and safest way to send and receive money, pay bills and top-up airtime with ease anytime and from anywhere, the promoters said.

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Users would also enjoy physical dollar cards delivered to them that can be used for withdrawals, online payments, online subscriptions and others.

PurplePay, which is available on Android and the iOS app store has a QR code scanner that allows merchants to receive payments. There is also a bulk payment feature for users who wish to make huge payments.

The peer-to-peer transfers feature allows consumers to send and receive money from other PurplePay users just with their usernames/phone numbers.

Users can also make various payments, including electricity bills, television subscriptions and phone recharge as well as data purchase on the app.

MD/CEO of PurplePay, Patrick Atuche, said the Nigerian market now has something to look forward to as the app suits all payment needs.

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According to him, this project is to aid the Central Bank of Nigeria’s cashless policy adoption. He said it is coming at the most crucial time when the world needs to maintain social distance and reduce physical contact.

He explained that PurplePay’s cross-border payments and multicurrency wallet would help the users connect with their loved ones in different parts of the world.

According to him, at verified PurplePay vendor outlets, its users can pay for goods and services from the app by scanning vendor QR codes at checkout points and pay with a single click.

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Atuche explained that the digital platform provides virtual accounts for its Nigerian users to send and receive money from any bank in Nigeria with their PurplePay account numbers.

He noted that the digital platform will serve people from different social strata.

“The market women selling foodstuffs, inter/intra transport operators, restaurant owners, religious centres, corporate and small businesses have full access to PurplePay mobile payment platform. Our journey for a seamless modern, cashless society globally is a positive plan that has PurplePay set to lead the way,” Atuche stated.


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