E-Financial
Payair Launches Next Generation Mobile Payment Service
Payair, the leading provider of mobile payments is now launching the next generation of mobile payment services, a solution which not only handles the payment process with both support for NFC and QR-codes – but that also provides retail and the catering industry an opportunity to communicate directly with their customers through targeted offers and information, known PUSH communications to customers’ mobile phones. First to use the next generation of mobile payment is Cash IT’s customers. This is a major step to make the mobile really a wallet. Payair is already in the midst of this transformative process, both technically and behaviourally. In other words, mobile payments are no longer something that is in the pilot stage. With Payair’s proven mobile payment service and integration with Cash IT’s checkout system1000’s of stores will in the near future provide the customers to pay easily and securely using their mobile phones. Payair’s solution offers the retail industry with more than a mobile payment service with support for both the NFC and QR codes. With next-generation mobile payment solution from Payair the merchants will be able to communicate directly with their customers, even when they are outside the store, to their mobile phones. The solution gives retailers and restaurants an opportunity to communicate attractive deals on products, provide information on the weekly lunch menu or send weekly recipe tips, etc., and thereby build a stronger relationship with their customers. Payair, the leading provider of mobile payment services, can now together with POS system vendor Cash IT offer an already commercially viable and proven mobile payment service integrated with the cash system. “We have created the next generation of mobile payment service that gives the retail and catering industry a more added value than just mobile payments. Our solution enables retailers to offer a better shopping experience with easy, fast and secure card payments and the ability to directly communicate attractive offers, and share information directly with the customer and thus strengthen customer relationships”, says Staffan Ljung, CEO at Payair. Cash IT’s clients are the first out to offer the stores this possibility, retail chains asskin care chain Lush, retail business Butterick’s and outdoor chain Addnature. Cash IT is a partner with Visma, which means that Cash IT’s POS system is integrated with the flagship of business system solution – Visma Business. Visma Software has developed an industry solution for retail, called Visma Business Retail.
Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.
Kuda Bank
The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.
Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.
Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”
By Mathew Anthony, Market Analyst at FXTM
In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.
FXTM Logo
With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.
Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.
Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.
This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.
Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.
CBN
Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.
Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.
The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.
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