CWG Plc’s BillsnPay presentment platform has recorded a transaction volume of over N12 billion in the first half of the year. This is coming as a result of a purported adoption of digital transformation by several Nigerian platforms owing to the COVID-19 pandemic.
According to Mr. Tereigh Ozakpo, Business Development Manager for Digital Financial Platforms at CWG said that the platform recorded a huge edge during the pandemic lockdown, owing to the robust support model it had developed with its continuous innovative strategy.
Speaking on CWG’s continuous innovative strategy, he commented:
“The growth witnessed in H1, 2020 is largely owed to two years of preparation for the adoption of digital payments by the semi-formal sector. CWG’s BillsnPay had spent some quality time in 2019 developing an excellent support model, which gave the platform an edge during the lockdown and going forward,”.
He explained that BillsnPay, a payment and bills presentment platform was created to offer support to support the semi-formal sector through the ‘formalizing’ of payments value chain.
In 2019, the platform completed its testing of usage cases, emphasising that the usage cases was to ascertain business viability – bills presentment (invoicing), bills payment, vending (bills and airtime), and aggregation.
Speaking on the areas of the Nigerian economy the BillsnPay solution is targeted at, Tereigh commented that BillsnPay’s core business targets the semi-formal and informal sectors of the economy, stressing that the solution seeks to transform the ‘paper-based/bank-alert-based’ transactions validation system that is common in this segment to a proper digital receipt that can be tendered in a court of law.
According to him, these receipts can be downloaded and get shared via social media channels like iMessage, Whatsapp, and other simple digital channels.
BilsnPay allows payments like estate levies, school fees, contributions, donations, faith-based payments and fundraising initiatives.
According to Tereigh, BillsnPay makes these payments safe, transparent and provides convenient channels to the customers or users.
Tereigh added that BillsnPay offers a guarantee to SMEs and startups to monitor and track closely their invoices and payments, leveraging the bill notification, intuitive dashboard and partial payment features on the platform.
BillsnPay has added some great value-adding features in the past few months like Enhanced Quickpay feature, which allows SMEs and billers to send a quick bill reference to customers for quick payment without downloading the app. The receipt would be available for the user.
Other features that have been added include the Partial Payments feature, which gives the biller and payer the opportunity to pay in installments and helps the billers to connect with their customers by providing flexible payment schedule; the Send Bill On-the-go feature, which makes sending bills as quickly as possible in four easy steps and the Bill Notification feature, which regularly reminds customers to pay up outstanding bills in a frequency defined by the biller.