E-payment transactions rise by 325% to N704 trn in 2020


By Cynthia Alo  

Nigeria’s smart card manufacturer and payment solution company, Electronic Payplus (Epay Plus) Limited, has announced a partnership with American Express to produce its range of smart cards.

This is following the company’s recent admission into the International Cards Manufacturers Association (ICMA).

American Express said Electronic Payplus had complied with the security requirements as stipulated by the Payment Card Industry.

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A statement from the company says, According to the company, “American Express hereby confirms that the vendor (Electronic Payplus Limited) has provided evidence of completion of a security review by a PCI accredited security assessor demonstrating compliance with the Payment Card Industry (PCI) Card Production Physical and Logical Security requirements.

“Therefore, it is confirmed that authorization is granted to the vendor to perform the checked services for GNS Licensees whom are licensed by Amex to issue American Express branded cards,” the company said in the license issued to Electronic Payplus Limited.”

Commenting on the development, Managing Director and Chief Executive Officer of Electronic Payplus Limited, Bayo Adeokun noted that the American Express partnership is another first by his company.

He said, “Electronic Payplus is the second Company to be certified in Sub-Saharan Africa by American Express International, outside South Africa. The two South African Companies are International Companies from Europe with outlets in Johannesburg.

“The implication of the above is that Electronic Payplus Limited has increased its suite of service offering, apart from the Verve, VISA and MasterCard certifications that we presently have.

“We are now well positioned to help any issuer in Nigeria or from any other country in Africa with their American Express card issuing project.”

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