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General News

Mastercard, FCMB Partner to Launch Tap on Phone Contactless Payment Solution

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L-R: Country Manager & Area Business Head, West Africa, Mastercard, Ebehijie Momoh; Head of Partnership and Channels Development, Netplus, Samuel Onwuekwe, Vice President, Customer Solutions, East & West Africa, Mastercard, Kari Tukur & Divisional Head, Payment & Solutions, First City Monument Bank (FCMB), Frank Atat, at the FCMB EasyPay launch, powered by Mastercard, on Tuesday, May 16, 2023, in Lagos.
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Mastercard, in partnership with First City Monument Bank (FCMB) and Netplus, have launched a contactless payment solution that enables consumers, merchants, and financial institutions to process payments seamlessly using Tap on Phone. This eliminates physical contact with a device at the point of sale, thereby enabling consumers make contactless payments quickly and easily, without the need to carry physical cash.

L-R: Country Manager & Area Business Head, West Africa, Mastercard, Ebehijie Momoh; Head of Partnership and Channels Development, Netplus, Samuel Onwuekwe, Vice President, Customer Solutions, East & West Africa, Mastercard, Kari Tukur & Divisional Head, Payment & Solutions, First City Monument Bank (FCMB), Frank Atat, at the FCMB EasyPay launch, powered by Mastercard, on Tuesday, May 16, 2023, in Lagos.

The service, also known as Soft POS, is a simple, convenient, and cost-effective digital payment technology that supports the needs of merchants. The solution transforms smart devices into payment acceptance devices.

This partnership marks a new milestone between FCMB and Mastercard while it reflects the bank’s vision to develop innovative, affordable and convenient payment solutions.

With the Tap on Phone, merchants can use their android smartphone or tablet to accept contactless payments, without investing in a separate hardware Point-of-Sale (POS) device. Tap on Phone works by enabling the device’s Near Field Communication (NFC) capabilities, allowing it to communicate with a customer’s contactless payment card. The customer simply taps their card on the merchant’s smartphone or tablet, and the payment is processed through the Mastercard network. Under the partnership, FCMB will serve as the acquirer Bank, while Netplus is the payment service provider.

“We are delighted to announce the launch of our innovative solution in Nigeria in partnership with First City Monument Bank. As a frontrunner in the digital payments industry, we recognize our responsibility to introduce cost-effective solutions that benefit everybody in the economy and facilitate the adoption of a cashless society for the collective benefit of all.

“This partnership is part of our commitment to connecting millions of Nigerians into a world where digital connectivity is integrated into their daily lives, making their lives easier and simpler” said Ebehijie Momoh, Country Manager & Area Business Head, West Africa at Mastercard.

Customers input a unique 4-digit PIN for both authentication and authorization prior to processing any transaction. This secure feature aims to provide an added layer of protection against unauthorized use. Furthermore, the transaction flow will follow the existing Point-of-Sale (POS) rails, with the Nigeria Inter-Bank Settlement System (NIBSS) acting as the central switch for seamless transaction processing.

Also speaking on the partnership and service, Mr. Frank Atat, Divisional Head, Payment and Solutions, FCMB, said, ‘’As almost all aspects of our lives become virtual, there is a need to continuously proffer convenient solutions that will cater to the transacting needs of our customers and Nigerians.

“Our partnership with Mastercard and Netplus to deploy the Tap on Phone contactless payment solution aligns with FCMB’s value as a customer-centric institution committed to providing innovative offerings that conveniently meets the evolving needs of individuals and businesses in a digitally changing world’’.

On its part, NetPlusDotCom said, “At NetPOS, we are excited to partner with leading Financial Institutions – Mastercard and FCMB – to launch yet another innovative solution in Nigeria. With this platform, MSMEs who are otherwise excluded from Acceptance solutions will be able to leverage digital services to grow their business. We look forward to providing the needed support to drive the adoption of this solution in Nigeria and adjacent markets.” 

This technology provides several benefits to consumers, including convenience, speed, security, and accessibility. Transactions are processed swiftly, reducing waiting times, while providing a secure payment method that minimizes the risks associated with cash payments. This partnership is part of Mastercard’s commitment to connect 1 billion individuals and 50 million micro and small merchants to the digital economy by 2025.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

General News

FG, Netherlands Partner on Digital Migration for NIS

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The Nigeria Immigration Service (NIS) strengthened bilateral relations with the Netherlands’ government through an agreement targeted at improving migration governance and border security.

This partnership was confirmed during a meeting at the NIS headquarters in Abuja, which was attended by a Dutch team led by Jurgen Bartelink, Chargé D’Affaires of the Embassy of the Netherlands in Nigeria.

The meeting focused on increasing bilateral migration cooperation and came after the comptroller general of Immigration, Kemi Nandap, paid a working visit to the Netherlands.

Under the agreement, the Dutch government pledged to continue supporting technology-driven solutions targeted at boosting Nigeria’s border control systems and improving migration management.

During the Netherlands Embassy diplomats handed over essential operational tools, such as Edison Software licence keys and the Passport Examination Programme Manual App.

According to NIS spokeswoman ACI Akinsola Akinlabi, “The partnership focuses on enhancing bilateral collaboration on migration management and reviewing ongoing capacity-building efforts.”

Bartelink, Chargé d’Affaires of the Netherlands Embassy in Nigeria, underlined the Netherlands’ commitment to helping Nigeria’s continuing border security and migration reforms.

Also speaking, Rob Bokhoven, head of international affairs, repatriation, and deportation services at the Dutch Ministry of Justice and Security, emphasised the country’s strong bilateral relations and announced plans to share a mobile border software solution with the NIS.

Receiving the equipment, Nandap said the delivery of the gadgets would boost West African country’s border security, significantly improve the service’s document verification border management capabilities and support the implementation of Nigeria’s National Migration Policy.

“The engagement will further reinforce the strategic partnership between Nigeria and the Netherlands advancing shared goals in migration governance, border security and international cooperation,” she added.


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AfDB Cuts Nigeria’s Growth Projection to 3.2%

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Peter Enogb, principal country economist, African Development Bank (AfDB), says the rise in global uncertainty, emanating from increases in global trade tariffs, has slowed Nigeria’s projected growth to 3.2% in 2025.

“Without this level of heightened uncertainty, our projections would probably have been somewhat higher. We’ve reduced our projections for Nigeria. We initially were projecting 3.5% – 3.6% growth in 2025.

“But given the current situation, our models are showing that we’re taking a more cautious approach. So that’s why we produced this and, of course, the main driver is uncertainty in the global economy,” Enogb said.

He said this at the launch of the 2025 Nigeria Country Focus Report (CFR) on Thursday.

AFDB projected that real GDP growth would hit 3.1% in 2026. Following the 2024 consumer price index (CPI) rebasing, with lower weights for food items, the inflation rate is expected to reduce over the medium term to 24.7% in 2025 and 17.3% in 2026.

As imports start to rise over the medium term, the current account is projected to decline to 3.9% of GDP in 2026.

The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation slowed for the second consecutive month to 22.97% in May. This is down from 24.48% at the start of the year

This is contrary to the World Bank projection that Nigeria’s economy would record steady growth of 3.6% despite the shift in the global trade dynamics.

Joseph Ogebe, head of research and development at Nigerian Economic Summit Group (NESG), also said that global uncertainty had been very high in recent times, resulting from the Trump 2.0 effect.

“And also with the recent war between Israel and the international community, we’ve seen what’s happening to oil prices. Even with the call-off of the war, we’ve seen the effect on oil prices too, which has implications on the fiscal side. So it has implications for the general economy,” he said.

The head of research at NESG said that rather than focusing on just growth, what should be looked at is a strategy called growth with depth.

“Growth with depth means that your growth must be diversified, export-led, productive, and technologically driven,” he said.

Ogebe said that if the Government works towards adopting a strategy of growth with depth, there is a tendency for the government to move towards its goal of achieving a $1 trillion economy by 2030.

The report revealed that the country’s recent policy moves, including fuel subsidy removal, exchange rate unification, and tax reforms, reflect a commitment to long-term transformation.

However, it also pointed out that at about 13%, Nigeria’s tax-to-GDP ratio is among the lowest in West Africa, noting that fiscal reforms are urgent.


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TikTok Expands Mental Health Support, Unveils Digital Safety Tools in Africa

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TikTok has announced the expansion of its global mental health fund to Sub-Saharan Africa and introduced new digital safety tools aimed at improving well-being on the platform.

The announcement was made at the inaugural Digital Well-being Summit held in Johannesburg, South Africa, with participants including government officials, mental health experts, NGOs and industry leaders from several African countries.

As part of the initiative, three organisations—South African Depression and Anxiety Group (SADAG), Mentally Aware Nigeria Initiative (MANI), and Kenya’s Mental360—were named as the first African beneficiaries of the platform’s $2.3 million Mental Health Education Fund.

TikTok also introduced an in-app guided meditation feature called “Sleep Hours,” rolled out globally to support better nighttime routines for users. The tool is automatically enabled for users under 18 from 10 p.m., with optional use for older users.

According to the company, the move is part of its broader efforts to support mental health, reduce stigma, and increase access to reliable support services on its platform.

The platform is also expanding access to local in-app mental health helplines across Africa, following successful pilots in Europe. The helplines will offer expert support on issues such as self-harm, harassment, and suicidal ideation.

Additionally, TikTok unveiled its first set of Mental Health Ambassadors in Africa under its collaboration with the World Health Organization. The ambassadors include medical professionals from South Africa, Nigeria, and Kenya.

Valiant Richey, TikTok’s Global Head of Trust and Safety Outreach, said the company remained committed to creating a safe and supportive space for users across all regions.

The summit featured discussions on online safety, digital literacy, and access to professional mental health resources, with support from local partners such as Spectra.


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