With an adult population of 84.7million in Nigeria, of which only 30% of them are banked, and with more than 88.3 million mobile phone subscriptions as at December 2010, there is great potential for agent banking and other remote access financial service that will increase financial inclusion.
Agent banking is the delivery of financial services outside conventional bank branches, often using non-bank retail agents and relying on technology, such as card readers, Point-of–Sale (PoS) terminal or mobile phones for real time transaction processing .
Launched in 2016, Quickteller Paypoint was designed to take financial services to the nooks and crannies of Nigerian communities, providing access to underserved markets.
Revealed at the maiden Quickteller Paypoint agents forum which held in Lagos recently; about 40 agents were onboarded during the first few months of operation. As at March 2017, the agent base had grown at an average rate of 1000 new agent sign ups monthly bringing the total number of active agents to about 6,000 and growing. This lends credibility to the consistency of the service and how it is changing lives and empowering Nigerians all over the country.
At this steady growth rate of approximately 33.3 new agents per day one can say that hitting the long-term vision of 150,000 active agents in 5 years is well within reach.
Speaking at the forum, Ridwan Lateef of RMAX Systems who emerged the Star Agent of the year thanked Quickteller Paypoint saying that the difference is now clear between Paypoint and other similar players. He went further to encourage his fellow agents saying
“To all agents present here, I can guarantee you that you are with the right team, to boost your business, it’s not all about making fast money transfers, there is need for trust. If you can win your customers trust, your business will grow”.
Mr Ridwan having completed the highest number of transactions over the year was rewarded with NGN300,000 cash prize and an all-expense paid trip to Kenya. Ajayi Modupe Temitope of Shoduts Nigeria ltd. who was 2nd was rewarded with NGN200,000 cash prize and an all-expense paid trip to Kenya while Nwokoma Nkechi of Ezehop Integrated, Port Harcourt, who came 3rd was rewarded with NGN100,000 cash prize and an all-expense paid trip to Kenya.
Divisional CEO, Interswitch Financial Inclusion (IFIS), Mr Mike Ogbalu also revealed that while in Kenya, the 3 star agents would be attending a training on advanced digital financial services courtesy of Quickteller Paypoint.
Other agents present were recognised and rewarded with Generators, GOTV decoders, Standing fans and rechargeable fans.