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Nigeria, Africa Ripe for Mobile Payment- Manceron

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Tagattitude is specialized in mobile payment and security solutions. The company was founded in 2005 by Yves Eonnet, Loïc Eonnet and Hervé Manceron. These founders combined their expertise in smart card and telecom industries, as well as telecom infrastructure and signal processing. Manceron, chief operating officer of the company was in Nigeria last week and he spoke to Hilary Okeke

Global winner in the GSMA Innovations Category in 2008 and Eyes another Trophy this year
Well, Tagattitude has had the honour of being selected as a Global winner in the payment category in the last couple of years at the GSMA event, which is the parent association for all GSM standard operators worldwide. We won in 2008.  We also had a good show at the GSMA’s Global Innovation 2009 global award competition. We won the regional events for the Americas and many others. I think we need to allow other guys to have a chance too.
Bringing Mobile Payments to the Lower End of the Market
What we are proving is an authentication solution using the mobile phones. This allows banks and other financial institutions to leverage our technology and provide services for their customers. The Near Sound Data Transfer (NSDT) technology is immediately compatible with all mobile phones in existence today, whether they are GSM or CDMA; and without need to download any application or any add-on on the mobile phones.
Major Attractions of the NSDT and Mobile Payments
By using audio channels (common to all phones), NSDT technology provides a secure and user-friendly transaction platform through which funds can be stored, extracted, transacted, and managed. This technology provides a smartcard-grade transaction security and usability on existing infrastructure and hardware. No software downloads or hardware upgrades are required and all mobile networks are eligible. It is phone-independent as well as network-independent. The payment solutions developed using NSDT are packaged into complete payment solution called TagPay, which can be implemented as any combination of the transaction functions depicted. Because NSDT solutions are universally available and deployment-free, they enable implementers to realize the dream of mobile banking and payment. Of course, this also makes them very cost-effective. Remember our focus is the low end of the market. We want to bank the unbanked.
 Road Map for Nigeria
 We are at the pilot stage with some leading banks and PSP providers in Nigeria. We are working on milestones and very soon, Nigerians will be able to make transactions on their mobiles on the streets, shops, online, and pay for common goods like newspapers or even a bottle of soft drink electronically, formerly bought with cash.
Nigerian Office
Tagattitude of France has always worked in third party countries through partnerships. In Mali and some other countries where we currently operate, local firms are pushing the business model and it is quite a huge success. In Nigeria, we are working in close collaboration with Tagattitude Nigeria Limited. The local representative of Tagattitude France Inc. is Tagattitude Nigeria. We have other customers and partners as well.
Nigerian Market Ready for Mobile Payment
If you look at the success of M-pesa in Kenya and some other solutions in the African market, it will be a wrong business decision not to look at Africa at a closer level. We understand the African market and that is why we designed from the beginning, a solution that serves the needs of Africans with low level entry phones, and figuring the educational levels and rate of technology adoption. Africa holds a unique attraction for us because of the success of mobile penetration across the landscape. Africa currently accounts for over 300 million mobile subscribers and Nigeria has more than 55 million under an addressable market of 140 million. The prospect for Africa is promising and rewarding. Only last Tuesday, we launched in Bamako, the Malian capital and the response was tremendous. We also offer an international remittance product into Mali used by Malians in the Diaspora.
Role of Banks in Robust Payment Ecosystem
 The banking sector is believed to affect growth by improving the access to financial services and improving the efficiency of financial intermediaries, both of which reduce the cost of financing, and in turn, stimulate capital accumulation and economic growth. By enabling mobiles to make secure transactions, the banking sector is opened, improving cost and efficiency of financing. Presently, developing-world economies have difficulty accounting for cash transactions. Replacing cash with mobile payment will revitalize economies and generate development. Thus on a macro scale, implementing mobile payment addresses a challenge faced by a majority of developing economies. Mobile subscription currently outstrips the Bank accounts in Nigeria by ration 3:1 and that is projected to grow to 5:1 in 2009 and even slide further in coming years. Banks are very useful partners in the evolving ecosystem in Nigeria and across Africa.
NSDT and Unbanked Population
On individual level, mobile payment addresses a myriad of problems faced by unbanked individuals. For many, carrying cash is dangerous and cumbersome, but not having money when needed can be equally problematic. By merging phone and wallet, assets are secured and impossible to access without the mobile and private PIN. Mobile payment also facilitates tracking and management of finances, creating new tools for financial responsibility. Daily purchases in remote areas can be made in a few seconds by simply dialling a number and placing your phone against the phone of a vendor. No cards or terminals are needed. Local businesses can offer and manage prepaid accounts with their clients and pay their employees. With NSDT, all of the risks and inconveniences of cash are eliminated. Nevertheless, funds can easily and fluidly cash-in and out when needed. By enabling easy cash-out and phone to phone transactions, the reluctance to dematerialization of cash is eroded. Our solution allows anybody with a mobile phone to make withdrawals from any ATM. The only modification on the existing ATMs is software. Microfinance banks can issue and supervise loans using mobile payment, raising the standard of accountability for their clients and facilitating loan distribution and collection. Loans can be sent to phones through the internet, saving loan officers dangerous and time consuming cash-laden voyages to each borrower. Micro-loan recipients can cash the loan at an ATM or with agents. Alternatively, the money that is electronically lodged “on the phone” can be spent directly from one phone to another – avoiding cash altogether. Borrowers can repay their loans to designated agents equipped with their phones “linked” to the micro-credit bank or can repay through ATMs equipped with NSDT™ software. By integrating the NSDT™ mobile payment platform into the bank back office, microfinance operations are made more efficient, more secure, and more effective. Furthermore, there is zero hardware deployment and minimal software integration. The possibilities and advantages are endless.
Other African Operations
 We are operation in Mali, Ivory Cost and some other African countries where demos and pilots are currently running. Nigeria holds a unique attraction because of the absence of a nation wide mobile payment systems and the sheer number of the mobile subscription, in addition to the very robust banking sector.
Roll Out Status in the European Union
 In the EU, we have commenced operations in France for retail payments across restaurants and other merchants in Paris, which was a huge success and we are also deploying across Europe with the world’s biggest telecommunications mobile operator, Orange in selected European Nations.
Assessment of the Nigeria Financial Sector
Even in face of the global financial crunch, Nigerian banks are still very robust with great potentials. Because of the recent reforms, the banking sector is stronger. Unfortunately, banking services are available to only 10% of the populace due to the inability of many to provide the necessary IDs such as national passports or driver’s license. However, a mobile phone has a unique ID which is the MSIDN number. Using this platform, we can bank the unbanked. We are in partnership with the World Bank to provide banking services to the unbanked population in other African countries.
Products on Offer
We have created the cheapest PoS system in the world. With a printer, it costs less than N25, 000. We also have account management software for the virtual accounts that run on NSDT.
Timetable for Launch
 We work based on achieving milestones. We hope to commence the deployment of pilot systems and demos for a few selected Nigerian banks and one or two PSP providers (switching companies). The next stage will be a full deployment, and that I believe will be determined by lots of local factors but like I said, we hope to begin full-scale operations soon.
 Compatibility of NSDT with Mobile Types
 All mobile phones currently in the market are compatible without the need to download any application or configuration. It is immediately compatible with all mobile models ranging from the cheaply priced phones to the high-end phones.


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Confronting the Google Monolith: Survival Strategies for Online Businesses

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By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


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Hydrogen Hosts Catalyst Workshop, Highlights Resilient Business Models for Fintech Startups

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As part of its mission to empower African businesses with tools needed to thrive, garner admiration, and foster global acclaim, leading payment solution company, Hydrogen Payment Services Company Limited (Hydrogen), recently partnered with the Co Creation Hub (CcHub), to host the latest edition of the Catalyst workshop in Lagos.

The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop resilient business models that would scale across different economic climes.

Moderated by Miracle Ezechi, Digital Marketing Manager, Hydrogen, the panel session addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.

Mr. Emeka Awagu, Chief Technology Officer, Hydrogen, who spoke as a panellist, addressed the issue of customer-centricity, which according to him, is key to Fintech growth.

He advised startups to listen to customer demands and understand their needs in order to develop the right solutions that will lead to long term market viability.

“Innovation is key for startup growth. However, understanding customers’ needs and change in behaviour will help any startup to innovate better.

“Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.

With an estimated 61.07 percent of startups failing, the participants stressed the need for prudence.

“Statistically, a staggering number of startups fail, often due to financial mismanagement. Hence, founders must prioritise understanding and maintaining a healthy the Cost-to-Earnings ratio.

“It is not just a number, but a pivotal indicator of a company’s financial health as well as being a key attractiveness determinant for investors,” Awagu added.

On his part, Ina Alogwu, the Group Director, Digital Transformation, ARM HOLDCO, who also spoke as a panellist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.

“Many startup businesses fail within their first five years, however upcoming startups should not be discouraged, rather develop a culture that will encourage them to understand the reasons for failure and learn from mistakes.

“Startups should not be too rigid with their solutions and should be ready to accept changes that will drive innovation,” Alogwu stated.

Hydrogen will be deepening its economic impact series with a webinar planned for Thursday, April 25, even as businesses across Africa continue to face an array of challenges, ranging from inflation and currency fluctuations to rising operating costs.

Themed ‘Navigating Economic Challenges: Strategies for Sustainable Growth,’ the webinar will delve into key areas critical for businesses to not only survive but thrive in the face of economic adversity. Register using this link – https://bit.ly/Hydrogenwebinar.

Esteemed panellists for this event include Taofik Odukoya, CEO, Vanguard Pharmacy, and Okechukwu Odimgbe, Chief Financial Officer, Hydrogen. The session will be moderated by Nnenna Sam-Obioha, Ecosystem Orchestrator, Hydrogen.

 


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Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

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Dexude, a leading edtech platform with operations in Nigeria, has announced that it has been awarded the prestigious Business Finland TEMPO funding.

Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

Charles Emembolu, founder of Dexude,

This significant funding injection marks a pivotal moment in Dexude’s journey towards transforming education through its AI-powered, live-first, expert-led, and community-driven platform.

The Business Finland TEMPO funding is specifically designed to support startups and SMEs aiming for international growth by building their expertise and solutions into international success stories in innovative ways.

Dexude’s commitment to innovation, coupled with its vision to enable a billion learners worldwide, aligns perfectly with the objectives of the TEMPO funding.

Commenting on this milestone achievement, Charles Emembolu, founder of Dexude, remarked, “We are incredibly honored and excited to receive the Business Finland TEMPO funding. This funding is not only a validation of Dexude’s mission to reinvent education but also a testament to the hard work and dedication of our team. With this support, we are poised to accelerate our efforts in democratizing access to quality education and empowering learners across Nigeria and beyond.”

L-r; Kelvin Chikezie, co-founder of Dexude; Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency (NITDA); and Charles Emembolu, founder of Dexude

Kelvin Chikezie, co-founder of Dexude, added, “Securing the Business Finland TEMPO funding is a significant milestone for Dexude. It underscores our commitment to leveraging technology and innovation to revolutionize the way people learn and grow. We are grateful to Business Finland for believing in our vision, and we are excited to embark on this next chapter of Dexude’s journey.”

Dexude is on a mission to redefine education by providing learners with access to influential experts and thought leaders, live interactions, and a vibrant community-driven learning experience.

Through its platform, Dexude aims to break down barriers to learning and empower individuals to pursue their passions and unlock their full potential.

 

 

 

 


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