Wema Bank Launches MSME Payment Solutions

Wema Bank has announced the re-launched of its suite of Micro, Small and Medium Enterprise solutions designed to provide businesses and customers with a diverse range of seamless collection and payment platforms.

According to a statement, it noted that the MSME collection and payment suite includes ALAT For Business, NQR, ALATPay, MyBusiness Card and the Wema POS machine.

“ALAT For Business [AFB] is the bank’s digital App made exclusively for business owners. While customers use ALAT to pay merchants, these merchants use AFB for bulk payments.

“On AFB, business owners can make payment to 5,000 beneficiaries in one transaction, optimise salary payments, invoice discounting, cash flow analysis, Form Q Initiation, and even FX transactions,” the statement said.

ALATPay on the other hand, is a payment gateway website that allows seamless payments with instant confirmation for both customers and business owners. Wema NQR provides “scan-to-pay” options for faster contactless payments via QR Code.

It stated that the Wema POS Machine allowed businesses to receive card, transfer, and alternative point-of-sale payments without hassles. MyBusinessCard, is a Business Card that offers business owners priority service in Branches, increased transaction limits, and supplementary cards.

The Wema Bank’s Divisional Head, Retail and SME, Ayodele Olojede, said the unique suite of solutions presented a unique opportunity to engender and accelerate digital and MSME empowerment in Nigeria.

“At Wema Bank, MSMEs hold a special place in our hearts. Our dedication to supporting MSMEs with viable solutions and resources is not just ‘box ticking’, it’s a lifelong mission that we are committed to seeing through. These re-launched platforms guarantee business owners the flexibility to focus more on profit-adding business activities.

“Seamless and efficient processes are a non-negotiable requisite for achieving and sustaining true business success and with these relaunched solutions,” she concluded.