Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has officially launched ALATPay, a game-changing platform that offers a secure end-to-end shopping experience for customers and instant settlement for merchants, all via the merchant’s unique ALATPay link.
The launch event took place in Lagos on Wednesday, 17th July 2024.
ALATPay is an unparalleled payment gateway that offers a fully integrated system for business owners to display their products and services to customers worldwide on their ALATPay online storefront, accept payments across diverse channels including Debit Cards, Credit Cards, USSD and direct bank payments, and get settled in local or foreign currency as applicable, all via a unique link.
Changing the game and resetting the standards for payment gateways, ALATPay offers instant settlement on transactions, eliminating the prevalent need for a third party and simplifying the payment process for both merchants and their customers while maintaining transaction security for both parties. ALATPay is easy to use and allows for unlimited transactions with no hidden charges, additionally providing dedicated support for users. Its strategically curated end-to-end process allows merchants to pull volumes of sales and get credited for each purchase without having to interact directly with customers.
The revolutionary payment gateway, ALATPay, provides online storefronts for each business onboarded as well as a unique link for each business. Once the link is shared to others, every prospect or customer that clicks the link is taken to the business’ storefront where they can shop, add their desired items to their cart, proceed to checkout, include shipping information if needed or opt to pick up, and make payment seamlessly using their preferred payment method, be it card, banking information, bank transfer, QR code, or phone number. While most payment gateways will require a third party—financial institution—to process the payment for settlement, ALATPay, powered by Wema Bank, provides immediate settlement for businesses to receive their funds immediately. With this unique solution, Wema Bank has not only introduced a gamechanger for businesses of all sizes across the country but also reinforced its position as an enabler of productivity and pioneer of transformation in Nigeria.
Revealing the big picture for ALATPay, Oluwole Ajimisinmi, Wema Bank’s Executive Director, Lagos Directorate, underscored the Bank’s drive for empowering businesses and providing viable solutions for them to thrive and scale. “The bulk of the economy comprises small businesses so creating and providing solutions that will empower them to thrive, maintain optimal productivity and actively contribute to the economy, is the goal for us. ALATPay is the future, and we are proud to do yet another major one in the financial services industry, positioning Nigerian businesses to seamlessly acquire transactions worldwide. With ALATPay, customers are not just getting access to the payment gateway, they are getting a full SME Toolkit, trainings, exposure, loan and trading facilities, all in one. This is our way of further empowering Nigerian businesses for success”, he concluded.
Highlighting the unique features of ALATPay, Wema Bank’s Divisional Head of Payment Business, Damola Bolodeoku, added, “A major value-added service that Wema Bank offers is the ability to collect payments in foreign currency. If a customer from the United States has picked items from a business’ storefront and paid with their USD Card, ALATPay allows the business to receive the payment directly in their USD Account in dollars.
This is arguably a ‘first of its kind’ offering as most payment gateways only provide settlements in Naira. Once your business is on ALATPay, you’re able to start selling seamlessly, securely and internationally. The integration process on ALATPay is quite seamless and to maintain maximum security for both merchants and customers, we have fortified the platform with anti-fraud and money laundering tools to ensure that no bad players can access the platform. There is untapped potential in breaking boundaries for businesses and we are happy to pioneer this solution. ALATPay is not just a payment gateway, it is a comprehensive solution to promoting the growth and success of businesses in Nigeria and beyond”.
Attesting to the flawless user experience on ALATPay, Ndidiamaka Ruth, a Software Developer who was present at the launch event commented, “From the Developer’s perspective and as someone that has consumed a lot of APIs especially in the FinTech industry, ALATPay is very smooth and simple. The data structure is seamless, the time frame between when you process the payment and when you get a response to your call-back URL is literally milliseconds, I have tested it with other payment gateways. Another thing that stood out is the technical support, the support Team from ALATPay is so attentive and truly supportive. I didn’t need to go through series of email back and forth, the service was exceptional, the Team was kind and well informed; you could tell they knew their onions. Thank you, Wema Bank. ALATPay is going places”.
Femi Adeko, CEO Belazeel Solutions UK and BeatQ Technologies Nigeria, further attested to the platform’s efficiency, encouraging businesses to leverage ALATPay for seamless payment collection as according to him, ALATPay has been instrumental in the establishment of his business in Nigeria.
ALATPay is changing the game with secure, seamless, and efficient cross-border transactions for businesses to access unlimited market, amass sales from any part of the world, receive payments in local currency or in dollars, and scale sustainably.
Businesses interested in exploring the unique benefits of ALATPay are encouraged to visit alatpay.ng and onboard in minutes.
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