Lanre Ibitoye, Author at VTpass Blog - Everything about Airtime, Internet Data Bundles, TV payment etc

SPORTS CUE – MAN CITY CHAMPIONS, MURRAY WITHDRAWS, HALEP CHARGED AND MANY MORE

Welcome to VTPASS SPORTS CUE – this is a run down of happenings in the world of Sport over the weekend.

MAN CITY CHAMPIONS!!

37 matches in, and guess what?? MAN CITY ARE CHAMPIONS ALREADY. They lead the race with 7 points, which means it would be mathematically impossible for any team to catch up with them. So this means Man city has secured the EPL title 5 times in 6 years. Legendary!!!

With the Champions league and the FA cup finals left to play, Man City has an outstanding chance of securing a treble for the second time in 5 years. Give Guardiola a managerial legend status already.

MURRAY WITHDRAWS;

Andy Murray has pulled out of the French Open to prepare for Wimbledon. He is the latest player to pull out of the competition following Rafael Nadal and Nick Kyrgois in this step. It was reported that the British tennis player withdrew from the competition to prioritise Wimbledon.

Also notable is the fact that the tennis player prefers the hard court to clay courts. Murray’s decision to exit the competition stems from his lackluster performance on clay courts this season. The Scottish athlete faced disappointing defeats in renowned tournaments such as Rome, Madrid, and Monte Carlo. Most recently, he suffered a loss to Swiss star Stan Wawrinka at the Bordeaux Challenger last Wednesday

So we wish Andy Murray the best in hard (grass) courts this season.

Sport Cue - Andy Murray retires from the french open to focus on Wimbledon.

Simona Halep

On this episode of sport cue, we look into Simona Halep doping allegations. Simona was charged with a doping allegation in October, 2022 after testing positive for a banned substance at the US open, and has been suspended from the court since then. News sprung up over the weekend that Simona has been charged with a fresh doping allegation which is separate from the one she is currently serving a suspension for.

The ITIA announced on Friday that Halep’s athlete biological passport returned irregularities after an assessment of her profile by an independent panel. Anti-doping bodies use the biological passport system to monitor an athlete’s various blood indicators over a long period of time. This is done in order to identify irregularities that could indicate rule violations.

Halep spoke publicly for the first time about her first doping charge last month, criticising the ITIA for multiple delays that meant she has been unable to present her case to an independent tribunal eight months after receiving notification of the positive test. In her new statement, Halep claimed that the ITIA is motivated to find her guilty. “I feel helpless facing such harassment and motivation on their behalf to prove me guilty of something I never did. Once again, all my life I have been totally against any sort of cheating. It doesn’t align with my values.” she wrote.

We hope Simona will be cleared, and she can return to court soon. Sports cue will provide further reports on this.

WSL DRAGS ON TO FINAL MATCHDAY

And it has come to this. Chelsea Woman will face Reading while Manchester United Women will face Liverpool on the last day of the WSL 2022/23 season. Chelsea lead the way with 2 point ahead of Manchester United going into the final week of the season. A win for Chelsea will ensure they successfully retain the WSL trophy. Nevertheless, the title charge is not over for the Manchester United team who won the Manchester derby yesterday.

It will boiled down to mathematics, prayers and hope going to the last game-week of the season. Man United will be crowned champions if they beat Liverpool by a margin of 5 goals, and Reading defeats Chelsea in their fixture. This could prove to be a monumental challenge because Chelsea has a better head-to-head record than Reading, which has only triumphed once in their 18 meetings.

Sports cue is looking ahead to this final gameweek.

MIAMI HEAT

For the second year in a row, Miami Heats are one win away from the NBA finals. Miami Heats head into the fourth match of the best-of-seven series against Boston Celtics with a 3-0 lead. A win in the next match will see Miami Heats advance to the NBA finals. This comes a

The results are somewhat similar in the other playoff fixture between Los Angeles Lakers and Denver Nuggets. Denver Nuggets lead the series 3 – 0 and a victory in the next round will guarantee them a place in the finals.

As we say in football, anything is possible. I guess the same can be said in basketball, anything is possible. But we foresee a Denver Nuggets vs Miami Heats final in the NBA.

If you are looking for a strong motivation to propel you into doing more, then it would be good news to know that vtpass.com can provide the incentive for you to work faster and more convenient. At vtpass.com, we make for quick and convenient means of paying all pending bills. Just by logging in to www.vtpass.com, you can pay for your phone airtime- Etisalat, Airtel, MTN, GLO; your TV subscription, electricity bills, data subscription and so on.

Cable Tv Payments On Vtpass

Bills payment is an option designed by payment billers that allows individuals access utilities that makes living so much fun and better. Vtpass offers payments for bills such as electricity bills, cable tv payments, insurance policies amongst others. So it is important for every customer to know how these functions work exactly and how they can access them.

The world is widely digital, as technology has streamlined every human experience into a widely scalable technological experience. The history of cable tv started with antiquated tv antennas that only allowed users watch stations like NTA, AIT, BCOS, and others over time.

But in the last decade, there has been a steady paradigm shift towards the pay-per-view option of accessing both local and international tv channels via digital decoders – with DSTV being the pioneer of such innovation in Nigeria, and by extension Africa. Today, every home in Nigeria has one cable tv or other that enables them to watch channels of various content like news, sports, entertainment, religion, documentary, etc.

In the time past, only rich people could afford cable tv. It was limited to a specified demography of people who could afford installing cable Tv in their homes because of the expensive nature. However, this stance has changed over time, as cable TVs are cheap and affordable for all.

However, the significant change in the narrative of our payment behaviour has made every financial solution accessible on digital platforms and has also contributed to the ease and simplicity of paying for your cable tv bills online.

How to Pay Cable TV on Vtpass

As earlier stated, there are a few steps to pay your cable tv bills on Vtpass. The following are those simple steps:

Download the Vtpass app on Google Play Store or Apple Store
Create a Vtpass account and log in
Click on “Pay TV subscription”
Choose your preferred “Cable tv type”
Enter necessary details – (Smartcard number, phone number, amount etc) and proceed to the payment page.
Click on “Pay Now” to process your payment and activate the decoder..

Which Cable TV Providers Are Available On Vtpass?

Currently, there are three (3) cable tv providers on Vtpass. These are DSTV, GOTV, and Startimes. But in all of these cable tv providers, you can pay for the different packages that are available for the respective cable TVs.

How To Troubleshoot Cable TV Issues With Vtpass

In the event of a lingering issue that needs rectification or prompt resolution, you can contact the Vtpass support team anytime and from anywhere to enable them to proffer solutions to your needs. Like earlier mentioned, our customer support team is highly responsive and you can troubleshoot your issues with the certainty that you will get a response.

You can contact Vtpass support via email or live chat to present your issue. We are also active on social channels like Whatsapp, Facebook, Instagram, and Twitter to tend to your queries.

Conclusion

Cable TV payments on Vtpass remains seamless, and swift. This is because you are guaranteed fast and secure payments, good customer support, and simple navigation when you use the Vtpass portal to make your bills payment.

Vtpass remains your best bet in having a seamless online payment when it comes to your bills, airtime, and data. Pay Dstv, Gotv and Startimes bills promptly our our website and get value immediately.

5 Statistics About Utility Bills Payment in Nigeria.

It’s no secret that utility bills payment is an unavoidable part of the adult human life. They have grown to become an integral part of the human life. Although everyone pay bills, it may differ in size and price. Utility bills are a necessary expense because they provide access to services that are essential for modern life, such as electricity, gas, water, among others. Without these services, it would be difficult to maintain a comfortable quality of life.

Facts.

According to the NIBSS, 19.4 trillion Naira was transferred via mobile in 2022, which is 141% more that the amount carried out in 2021. This means that Nigeria have embraced the digital method of paying bills, as opposed to paying with cash.
Nigerians spend over 60% of their monthly income servicing utility bills.
Nigeria is one of the top 5 countries in Africa for utility bills payments. This is reflective of the country’s large population and high rate of economic growth.
About 70% of utility bills in Nigeria are paid by individuals, with the remaining 30% paid by businesses.
The average Nigerian spends approximately 5% of their monthly income on utility bills. This is an important expense for households in Nigeria, as it can have a significant impact on their budget.

These 5 surprising stats about utility bills payment in Nigeria show just how important this type of expense is for people in the country. From cash payments to direct bank transfers, utility bills are a necessary part of life in Nigeria. It’s important to be aware of the payment options available and various means that makes bills payment easier, faster and more accessible.

Vtpass is an online utility bills payment platform.

Conclusively,

As always, VTpass remains the number 1 utility bills payment platform that offers you seamless payment experience. It also priomises swift delivery of the value for which you pay for. This is one of the tools we have built in place to aid you always get prompt value, irrespective of any irregularities that may arise.

In conclusion, bills payment with www.vtpass.com is superfast, easy and very convenient. In addition, you get 24/7 access to our support team to help you through any glitch you might have. Why don’t you try us today?

WAYBACK – HISTORY OF INTERNET IN NIGERIA

Obasanjo’s internet, as it is mostly called became a trend in Nigeria in 1996. But was not the beginning. Nigeria had its first ISP in 1990. An ISP (Internet Service Provider) is a company that provides internet services to individuals and organisations. The first ISP was founded in 1991, and it was the Nigerian Centre for Communication Technologies (NCCT). Subsequently, ISPs like NITEL, Interswitch and Vee Network surfaced to dispense their services to already burgeoning market.

The main boom of internet usage in Nigeria was in the 2000’s. This technology was not relatively new at this time. Although, before then, the Nigerian Post and Telegraph was in charge of handling all forms of communications under the just independent Nigerian government. This commission regulated calls made between Lagos and London. The country had 116,000 fixed telephone lines across.

The main effort of NITEL (Nigeria Telecommunication Limited) was to structure and improve the coordination of telecommunication processes within and outside the country. However, the role of NITEL was not an easy assignment, and as a result, became operationally inefficient. The core drawbacks that affected NITEL’s efficiency were lack of maintenance, and inability to support cable network infrastructure across the country. This resulted in phone lines being congested, billing system was inefficient, and call completion rate for long distance calls was less than 50%. At this stage, it was clearer that NITEL lacked the capacity to cater for the increasing demand for their services.

History of internet in Nigeria - Early mobile phones

INTRODUCTION OF MOBILE PHONES

According to some reports, ECONET Wireless made the first live call using GSM in the country on June 8, 2001. Immediately following it was MTN, which entered the market on May 16, 2001, but began operations in August of the same year. Initially, GSM services were available in Lagos, followed by Abuja and then Port Harcourt. In the year 1992, the first cellphone touched down in Nigeria, and this network was known as Mobile Telecommunication Service (MTS). Since it was the first of its kind, it garnered extreme monopoly and popularity overtime. The earliest cellphone had limited features, and above all, had unexciting games. You can mostly make calls, send text messages, and listen to monodical ringtones on these devices.

Since 2000, there was an upward rise in the number of people using the internet and mobile phones in Nigeria. This is due to the increasing availability of affordable mobile phones and internet access. The government has also invested in infrastructure that has improved internet connectivity, making it easier for people to access the internet.

ACHIEVING YOUR FINANCIAL GOALS.

Earning a salary isn’t enough in your journey to financial freedom. Every project needs a plan; your financial goals also needs a concrete plan. If you want to fully realise your vision for your financial plan, you need to map out a plan to make that happen. This includes setting goals that identify and establishes your priorities.

Your financial goals on an upward growth scale

In order to achieve financial independence, earning a salary isn’t enough. Every endeavor necessitates a strategy, and your financial plan is no exception. If you want to completely fulfill your financial goals, you’ll need to create a plan to get there. Setting goals that identify and establish your priorities is part of this process. After payday, it’s common for people to need to settle their bills. But how often have you sat down to thoroughly predict your future earnings long-term?

You have to set some financial goals if you want to take charge of your money and live a more financially secure life. Not only setting these goals, but you also have to put in measures to achieve them. Financial goals assist you in making sound financial decisions, directing your spending, and reducing resource waste.

Your financial objectives may be short-term, ranging from one month to two years; they are targets that you can reach in a short period of time. Long-term objectives are similar to short-term objectives in that they require 5 to 20 years to attain. They are the most important goals for you, and they will take the most time and commitment to achieve.

5 STEPS TO ACHIEVING YOUR FINANCIAL GOALS

Write it down:

As Michael Korda wrote, ‘write it down. Written goals have a way of transforming wishes into wants; can’t into can, dreams into plans; and plans into reality. Don’t just think it- ink it’.

You may have wished to save more money at the end of the year, but writing it down just adds another dynamic to your wish. Be specific with the details and action. If you want to have N1, 000,000 in savings at the end of the year. Be specific about your targets, and include the sub-metrics necessary for achieving that goal.
Putting your goals in writing causes you to be more focused and clearer. Those goals become tangible, and you also have a visual cue of them in your head. The first step to achieving any goal in life is to write it down.

YOUR Goals must be SMART:

Your goals also have to be SMART; Instead of saying ‘I want to have plenty of money in my savings at the end of the year, write instead í will have saved N15,000,000 before 31^st of December, 2022 by saving N2,000,000 every month through the end of the year’. The difference between the two statements is that the latter is SMART, while the former is not. The latter one is time-framed; there is a specific date that the goal must be attained, it is specific; the total amount to be saved each month, and also the total amount that must have been saved before the time was also stated. Likewise, your financial plan should be specific, measurable, attainable, relevant, and time-bound.

Develop healthy financial habits:

As Jim Rohn wrote, ‘motivation is what gets you started, habit is what keeps you going.’ It is therefore important that you create habits that help you consistently stick to your financial goals. Unhealthy habits can throw you off course. So the only way to remain true to your financial project is to develop habits that align with your target. Some of the financial habits that you can adopt may include:

To guide your spending, make a daily or monthly budget and stick to it.
Distinguish between wants and needs, and prioritise them.
Engage in more productive financial conversations with people around you.
Reinforce your financial mindset by changing how you think about money.
Eat fewer junks and cook more.

Most importantly, bills payment cannot be neglected in your budgeting and financial goals, Vtpass offers you a convenient and affordable means of paying cable subscription, electricity bills, insurance and educational payment.

Bye!

How To Locate Your PHCN Meter Number

This post helps you locate your meter number

The introduction of prepaid meters came as an enormous relief to most Nigerians who were tired of being charged outrageous bills. Prepaid meters are beneficial because they allow you to pay for electricity only as you use it. This eliminates the need for customers to pay for estimated bills, which often resulted in customers paying more than their actual usage. Additionally, customers can monitor their usage more easily and adjust their electricity consumption to avoid overspending.

By using the prepayment method, customers can now properly budget and pay their electricity bill before using it. This shift to prepayment has resulted in improved customer satisfaction and has given customers more control over their electricity consumption. As a result, customers have more confidence in their ability to manage their electricity bills.

Just like topping up your mobile phone with airtime, so is recharging your electricity meter. Likewise, you can only get electricity if you credit your meter.

Different types of prepaid meters

There are two main types of prepaid meters: key meters and smart card meters.

A key meter uses a special electronic key with your tariff information on it.

While a smart card meter sends the latest information to your supplier when topped up.

How to locate your meter number

Each prepaid meter has its unique ID which varies in length between 11-7 digits. The meter number usually contains numbers and letters.

Each meter number has been made very easy to locate as it is often seen above or beneath a barcode on your meter. Additionally, this allows the energy provider to accurately bill the customer based on their energy usage.

You can also find this on the front of your meter, engraved into the meter box or printed on a sticker attached to the meter box.

Anyone can now pay their electricity bills for both prepaid and postpaid meters on VTpass in a secure, easy and convenient transaction. Make payment for different electric areas on VTpass including Ikeja electric, Eko electric, Abuja electric, Portharcourt electric, Kano electric, and Jos electric.

Pay your electricity bills with VTpass

Visit www.vtpass.com ,
Click this https://www.vtpass.com/electricity-bill to select your electricity area.
Enter your payment details and submit.

Remember that your correct meter number must be supplied when buying prepaid electricity.

Like our Facebook page, follow us on instagram, and twitter if this post was helpful. Use Vtpass for all electricity bills payment.

VTPASS CONVERSATIONS: BRIDGING THE GAP BETWEEN THE BANKED AND UNBANKED

2023 have been a torrid year for Nigerians. Events hit an abyss when new notes were rolled out, and the federal government stopped the old naira notes from circulation. Wait, what?? Let us retrace our steps and examine where this declaration started from.

In October 2022, the Central Bank governor, Godwin Emefiele, announced the recall and redesign policy. This was to encourage a cashless economy, stave-off cash hoarding, and lower kidnapping rates and terrorism. The House of Assembly doubting the sanity of this decision, summoned the CBN governor to explain this policy. He was excused because he was away from the country on medical grounds and personal engagements. In his absence, Aisha Ahmed assured Nigerians that the naira redesign was not politically influenced. The implementation date was set for 31st January 2023.

Nigeria’s push to replace its paper money with newly designed currency notes has created a shortage of cash, leaving people unable to buy what they need and forcing businesses to close across the West African nation, experts and business groups said.
African News, 2023.

RESULT OF THE POLICY

This policy had negative results. Naira notes became scarce; the old ones were no longer legal tenders, while the new notes were not fully in circulation. A total mayhem ensued in society as a result. People couldn’t access cash and major businesses came to a standstill. This was due to the lack of preparation for the policy, and failure to put in place adequate measures to ensure that the transition was smooth. People and businesses were unable to access the cash they needed, leading to the chaos and disruption that occurred. Analysts accused authorities of poorly implementing the policy in Africa’s largest economy. where digital payment services are usually not reliable and only 45% of adults have a bank account, according to the World Bank.

Nigeria, like many developing nations, has a significant gap between the banked and unbanked population. According to a 2018 survey by the Enhancing Financial Innovation and Access (EFInA), only 36.8% of Nigerian adults have access to formal financial services. This means that the majority of the population operates on a cash basis, with no access to traditional banking services.

The recent cash scarcity in Nigeria highlights the need for bridging this gap between the banked and unbanked population. This has left many Nigerians stranded, with limited access to their funds. Without access to banking services, they are unable to access their funds, and this has caused them significant financial hardship. This highlights the need for financial inclusion initiatives that can bridge the gap between the banked and unbanked population.

FINTECH IS THE WAY FORWARD

However, technology can be a game-changer in this regard. Recently, financial technology companies have emerged in Nigeria, offering innovative solutions to address the gap between the banked and unbanked. These companies leverage mobile technology to provide financial services to the unbanked, allowing them to make payments, save money, and access credit.

One such company is Vtpass, which provides a mobile wallet that allows users to pay bills, and buy airtime. These fintech companies are disrupting the traditional banking industry by providing convenient, accessible, and affordable financial services to the unbanked population.

To bridge the gap between the banked and unbanked in Nigeria, there needs to be a concerted effort by the government, and fintech companies. The government can play a role by creating an enabling environment for fintech companies to operate. Further assistance could include providing regulatory oversight, and promoting financial education. Financial institutions can partner with fintech companies to offer digital financial services and expand their reach to the unbanked population.

In conclusion, the recent cash scarcity in Nigeria has highlighted the urgent need for bridging the gap between the banked and unbanked population. With the right partnerships and support from the government, fintech companies can help Nigeria move towards a more financially inclusive society where everyone has access to formal financial services.

Vtpass, as a fintech is ensuring that bills payment is simple, convenient and smart. Click here to pay electricity bills, recharge your cable TV, and buy educational pins.

UNDERSTANDING VTPASS API

An Application Programmable Interface (API) is a set of clearly defined methods of communication between various software components. Most tech companies build APIs for internal use and for external consumers. A typical example is your Uber application where you have Google maps for navigation, Uber and Google are two different companies however Uber is leveraging Google Maps APIs to service their customers.

An API ( Application Programming Interface ) is a collection of features that details data interaction between applications. The two important parts are the services being provided and the protocol needed to access these services. On the web, APIs are used to request or send data to any platform that supports it. Business can build their solution around Vtpass API to provide services to their customers.

What sort of architecture does Vtpass API uses?

A RESTful API is an architectural style for building APIs that follows a set of guidelines for creating HTTP services. These API’s are flexible,, and easy to maintain. A RESTful API uses a stateless protocol, meaning that the server does not store any information about the client. This makes it easier to scale and maintain, since the server does not need to keep track of any data about the client. Additionally, it follows the principles of Representational State Transfer (REST), which is an architectural style that focuses on the design of the client-server interaction. This makes the API more efficient, as the client and server can exchange data quickly and easily. Vtpass API is built using this protocol.

The VTpass API is a RESTful API that allows you to integrate bills payment services available on the VTpass platform on your application. With the VTpass API, developers can easily access payment services such as Airtime, Data, Electricity and Cable TV subscription, etc. and securely process payments. This integration allows users of your application to conveniently pay their bills without having to leave your platform.

Integrating the VTpass API

First, create an account on Vtpass Sandbox. A sandbox test is an environment that enables users run a test file or a programme code. All tests are done on the Vtpass sandbox environment. There is no malicious Because testing environments are completely separate from production environments, sandboxes are useful for testing software changes before they go live. This account will be used for all your tests. It has a default wallet balance which will be debited for transactions just like in the live environment. This would allow you to run operations in the same manner as on the live environment.

Vtpass Live Environment

After completing a successful test on Vtpass Sandbox, and it is time to create a live environment. Register on the VTpass live platform, then request API access from our support team once you have your live parameters.

Who Can Use Our API?

Anyone! Well, not really anyone, but almost anyone. As long as you have a website, you can easily integrate our JAMB e-PIN API and thereby gain access to it. When you integrate, you are able to offer the same services to your own customers directly from your website. This is great because it means you are offering your customers more value.

MORE ON THIS.

And if you want to do bigger things as an IT brain, you can integrate Vtpass.com’s API into your website or application and begin to sell any of these services to those in contact with your website or app. What this means is that you get to resell such services as 9mobile, MTN, GLO, Airtel airtime and data subscriptions, electricity bills for almost all electricity distribution companies, educational payments such as WAEC Scratch Card, cable TV subscriptions and so much more. And if you are not the technical specialist, but you have a website through which you can sell our services, you can consult your web developer or programmer who will, in turn, visit our website www.vtpass.com or consult our support centre and make you a retailer of our services.

And if you are not the technical specialist. But you have a website through which you can sell any of our services. You can consult your web developer or programmer. The programmer will, in turn, visit our website www.vtpass.com or consult our support centre. And make you a retailer of our services. But the first step is logging into www.vtpass.com and trying your hands on the services we sell such as phone airtime, electricity bills, data subscriptions, DStv, Startimes and GOtv subscriptions and so on.

WHY FINTECH IS THE KEY TO FINANCIAL INCLUSION

The World Bank Group considers financial inclusion a key enabler to reduce extreme poverty and boost shared prosperity. Fintech is key to financial inclusion which will open up banking services to all and sundry. Fintech has the potential to make banking services more accessible to those who would otherwise not have access to them. It can help to reduce the cost of financial transactions. It makes it easier to access credit, savings and other financial services.

The primary goal of financial inclusion is to ensure that unbanked and underserved individuals and communities have access to useful and affordable financial products and services that meet their needs –payments, collections, credit, savings and insurance – delivered in a sustainable and responsible way.

A look at the opportunities for financial inclusion

Financial inclusion is essential to the community’s progress as access to monetary touchpoints facilitates day-to-day living, and helps families and businesses plan for everything from short-term goals to long-term goals and unexpected emergencies. As account holders, people are more likely to access other financial services, such as credit and insurance. This is to start and expand businesses, invest in education or health, manage business risk, and weather economic shocks. This can improve their lives.

In Nigeria, financial inclusion has spread across Nigeria over the past few years. This includes job creation, Foreign Direct Investment, private sector innovation, and a push to open low-cost accounts, including mobile wallets and digitally-enabled payments.

Impact of Financial Inclusion on the Nigerian Economy in the Last Five Years

Employment: The World Bank Group considers financial inclusion a key enabler to reduce extreme poverty and boost shared prosperity. This view can be deemed credible based on its effect on the Nigerian economy. According to the Shared Agent Network Expansion Facility (SANEF) there are 1.4M number of financial access points/Agents nationwide. This translates into employment opportunities for over 300,000 Nigerians (excludes operators – MMOs and Super Agent employees). The employment opportunity covers a wide mix of agents, agent aggregators, agent shop handlers, licensed MMOs and their employees as well as licensed Super Agents and their employees.

Financial service touchpoints: To bridge the gap between unbanked citizens and financial services, financial service touchpoints are important. Financial Inclusion has brought to fruition the availability of financial services touchpoints in areas/locations previously unreached and deemed under-served communities. There has been growth in the number of agent touchpoints and volume of banking inclusion services such as POS cash out, G2P Disbursements and payments (e.g. Tradermoni, GEEP etc.), funds transfer and wallet creation in under-served or rural communities. These have improved these communities’ economic development.

As a result, investment in advertising and brand identity has increased. The huge investment in this area has created an avenue for state governments to earn internally generated revenue from operators and agents alike. However, this poses a disincentive for Super Agents & operators as it impacts startup capital and agents’ available trading capital respectively.

Foreign Direct Investment (FDI):

There is growing evidence that inclusive financial sector development can reduce poverty and inequality. When previously unbanked citizens save and

By mobilizing these savings for investments, banks and other financial institutions mobilize these savings for investments that, in turn, help grow the country’s productive sector and spur foreign businesses. In addition, Nigerian Fintechs in the digital financial services space have received multiple rounds of funding and seed capital through foreign direct investments. This has been done by donors and investors across the globe in the past five years.

International donor organisations e.g. Bill and Melinda Gates Foundation also drive Foreign Direct Investment through their partnership with EFInA to sponsor projects on raising financial inclusion rates across the country.

All these highlight the potential and need for a wider-scale promotion of financial inclusion for Nigerian society.

Financial inclusion is key to providing financial services to the unbanked.

Harnessing the Buying Power of the Financially Excluded

Financial inclusion has as much potential to help financial institutions lend to even poorer communities and reach rural clients. This is as they do to help commercial banks reach the lower middle class.

Only 40.1 million of the adult population have no access to formal or informal financial services. Mobile money uptake and awareness in Nigeria remain low at about 1% and 16% respectively. In addition, EFInA Access to Financial Services in Nigeria 2018 Survey highlighted that out of the 100M bankable adult population in Nigeria, 39.7 have bank accounts, 8% have formal sector employment, 16.7% own business (non-farming), 11.2% own business (farming), 23.4% rely mainly on farming for income and about 53.4% save regularly.

Based on this data, we can broaden our understanding of the population of adults who do not have access to any financial service (formal or informal) in Nigeria, their savings and credit patterns, remittance behaviours, payment channels and their potential to use formal financial services to manage their finances.

We can say that the financially excluded have enormous buying power. Based on economic and social metrics, transactions from this segment are low value and high volume.

Harnessing buying power of the unbanked

• Deployment of products & services that meet the lifestyle of the unbanked and rural dwellers: Despite limited access to banking services, Nigerians have long practised traditional

This unbanked sector also relies on micro-loan services from credit associations that serve their interests. By offering access to the financially excluded, they have additional access to a wider range of services. This can boost the collective standard of living in those rural communities. This can improve financial literacy and awareness.

• Retail-based pricing considerations: Inefficient pricing isolates consumers who would otherwise sign up for a product or service. This is especially true for the financially disadvantaged who earn below minimum wage. By ensuring retail prices for financial services and other products are pocket-friendly, it would encourage customer loyalty and repeated use of the available services.

Deployment of Technology-driven Solutions:

As history has shown, technological innovations are one of the major drivers of economic adoption. For example, USSD is a mobile-based service that requires no onboarding for users and has gained widespread adoption. USSD offers the best available communications technology to deliver mobile financial services to low-income customers. This shows how technological adoption drives financial inclusion.

In addition, research from other countries where mobile money adoption is high has shown a positive correlation between increasing mobile money adoption and significant levels of formal financial inclusion. In Nigeria where the financially excluded population remains high at 40.1 million adults, an expansion of mobile money adoption and usage in the country presents a real opportunity to provide the poor with access to financial services as well as other social benefits and services.

Vtpass, as a fintech is ensuring that bills payment is simple, convenient and smart. Click here to pay electricity bills, recharge your cable TV, and buy educational pins.

The Steps to Follow When Paying Your Electricity Bill Online on Vtpass

Electricity bill payment should not be a daunting task. Making the payment process easy, fast and secure is essential to ensure a smooth experience. By offering convenient payment options, such as online payments, direct debits and automated payments, customers can save time and money.

There are eleven electricity distribution companies in Nigeria, including the Ibadan Electricity Distribution Company. This company is licensed to generate electricity in Oyo, Osun, Ogun, Kwara, as well as parts of Niger, Ekiti, and Kogi states. Eko Electric covers electricity across Apapa, Lekki, Ibeju, Island, Agbara, Ojo, Festac, Ijora, Mushin and Orile. Abuja Electricity Company is licensed to provide electricity for the Federal Capital Territory (Abuja), Kogi State, Niger State, and Nassarawa State. Other DISCOs include PHED, JED, KAED, EEDC, BEDC among others.

With Vtpass, you can now pay your electricity bills without leaving your home. This means you no longer have to queue up at the office for long hours. And what’s exciting? Vtpass works 24/7 so you can pay your electricity bills during odd hours of the day.

You’ll also have access to your payment history to track your expenses. Vtpass makes bill payments easier and faster, so you can focus on more important things.

How To Pay Your Electricity Bills in Five (5) Steps

Register to be a user on the Vtpass platform either using the mobile app or the website.
Select your preferred disco – we currently have 10 out of 11 available in Nigeria.
Input your information correctly – meter number, meter type, phone number, email address and amount.
Proceed to payment. This process is safe and quick.
Get your units (for prepaid users) or a receipt (for postpaid users) once payment is completed.

Immediately after your payment is complete, your token will be sent to your email and SMS.

That’s it! No more electricity worries when you make VTpass your electricity bill payment platform.

To end this, bills payment with www.vtpass.com is super fast, easy and very convenient. In addition, you get 24/7 access to our support team to help you through any glitch you might have. Why don’t you try us today?

You’ll love the convenience.