By Nnamdi Ojiego

Contrary to opinion from some quarters that Nigeria is not yet ripe for a cashless society which the Central Bank of Nigeria, CBN, is proposing to kick off next year, stakeholders in the e-payment ecosystem of the financial sector have thrown their weight behind the policy.

One of the stakeholders and Managing Partner, Intermarc Consulting Limited, Mr Adeyinka Adeyemi, said the industry has grown in terms of infrastructure which has made the economy more appropriate for cashless transactions.

Adeyemi who was speaking during the media launch of Coalition for E-payment, a forum comprising major stakeholders in the e-payment system such as banks, telecommunication operators, insurance companies, POS/ATM manufacturers, among others described the CBN’s initiative as laudable.

He said the Coalition for E-payment was formed to compliment the efforts of the CBN to ensure that the electronic transactions policy succeeds.

According to him, the coalition would act as a catalyst for the propagation and promotion of e-payment across e-commerce channels, particularly through consumer education on a sustainable basis.

“The primary objectives of this coalition include educating various professional and trade associations on the advantages of this government policy, promoting consumer education and awareness for e-payment and its benefits, inducing and promoting the use of e-payment in all the various market segments, conducting regular interactive forums to enlighten the public on the new policy”, he explained.

The Intermarc boss admitted that transiting from cash to cashless society will not be an easy ride as there were challenges and obstacles facing the implementation of the policy.

He expressed satisfaction with the level of growth and stability the sector has recorded which he believed would ensure smooth kick off of the policy.

Meanwhile, the Coalition on E-payment is an off shoot of the annual Card, ATM and Mobile expo organised by Intermarc Consulting. Intermarc is also the initiator of e-payment coalition.