Introducing Bani Shopper for instant payments

Introducing Bani Shopper For Instant Payments

Written by Taofik

Merchants and customers can now collect and make faster payments with Bani Shopper…

The transformation and evolution of digital payment methods are reshaping the way individuals and businesses conduct financial transactions worldwide. In Nigeria, the journey toward becoming less cash-reliant, as the Central Bank (CBN) envisioned, continues to fuel the demand for convenient and secure digital payment options.

As efforts to reduce the reliance on cash in the economy increase, it has become even more crucial for businesses to provide more seamless and reliable payment options.

Unfortunately, the available digital payment options, including debit cards and bank transfer payments, continue to be marred by many issues, such as card failures on POS terminals, technical interbank network issues, etc.

These issues cause multiple debits, failed or delayed transfers, delayed funds settlement, and more, frustrating businesses and customers.

How is Bani attempting to solve these payment problems?

Bani continues to provide businesses with unique virtual accounts to enhance the success rates of bank transfer payments and e-wallets, payment links, mobile money, and more for seamless payments. With its Shopper App, Bani continues to innovate and introduce new solutions.

What is Bani Shopper?

Bani Shopper is a QR Code-inspired payment option that facilitates smoother and faster transactions for businesses and customers, eliminating the frustrations often encountered with debit cards or bank transfers.

QR Code Payment in Nigeria

In recent years, the adoption of QR code payments has experienced a significant surge and is expected to keep rising. Last year, the global QR code payment market was valued at $9.98 billion, and it is projected to grow at a compound annual growth rate (CAGR) of 16.9% from 2023 to 2030.

The CBN is also trying to inspire the adoption of QR codes for payments in Nigeria. In July 2022, the regulatory bank reviewed its Quick Response Code Framework, pronouncing that QR code payments in the country can either be merchant-presented or consumer-presented. 

In-store Payments with Bani Shopper

With Bani Shopper, customers can make smooth, instant, and secure payments at their favourite stores by scanning a QR code using their smartphones. They will simply:

1) Download the Bani Shopper App from their App store

2) Fund their Shopper App from their bank account

3) Scan the Bani Shopper QR code on display at any merchant location

4) Input the amount of item or service they’re paying for

5) Slide to confirm and payment

Online Payments with Bani Shopper

Merchants can also collect payments for online sales seamlessly with Bani Shopper. Customers will simply:

1) Receive a payment notification from the merchant

2) Open their Shopper App to confirm the amount to be paid

3) Slide to complete payment

Recurring Payments with Bani Shopper (Connected Stores)

With Bani Shopper, customers can also easily make arrangements for recurring payments, such as subscriptions and memberships, with their favourite retail stores, hotels, travel agencies, gyms, etc.

At each designated payment time, customers will simply:

1) Receive a recurring payment notification from the merchant

2) Confirm the maximum amount the merchant can debit daily

Advantages of Bani Shopper for Businesses and Customers

Bani Shopper offers many advantages for businesses and their customers compared to debit card and bank transfer payments. These include:

1) No bank card errors on POS terminals

2) No network issues with bank transfers

3) Instant payment notification

4) Instant funds settlement in the merchant’s account

5) No multiple deductions from the customer’s account

5) No chargebacks or outrageous charges on payment processes

6) 100% reliable. No payment error, no delay.

Digital payments will continue to evolve and shape the way businesses and consumers conduct financial transactions in the future. Visit here to begin to experience the joy of convenient shopping and instant payments today!

If you have any questions or require assistance, our dedicated support team is available 24/7 to help. Feel free to schedule a quick call with us right away.

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