iRecharge Tech-Innovations LTD, an industry player with focus on Consumer services, Digital Alternatives, Payment processing and Enterprise Business Application, has launched a payment solution.
Its a patented and first-of-its-kind system that commands the ease and convenience of payment of recurring bills.
The new service enables customers to make their frequent utility bill payments through the use of a unique NUBAN account number.
According to a statement, Customers can retrieve the account numbers assigned to their utilities cable TV decoders, electricity meters etc by visiting their website .
Using this system, customers will no longer need to expose their card details online to make payment for services.
It also reduces the number of steps and time spent paying bills on mobile applications or at physical points of sale.
A customer simply needs to transfer the purchase value or subscription amount to the pre-assigned account number to get instant value.
Chief executive officer of the company, Mr. Tomi Araromi, said the innovation is miles ahead of the conventional bill payment system which revolves around the idea of using mobile apps, websites or agents for bill payments.
He said “the new shift saves time for customers and the entire bill paying ecosystem as customers only need to retrieve the account number for the utility or service once.
“This mechanism promotes inclusion as payment for electricity tokens or cable subscription can be made via any of the banking channels such as ATM machines, bank mobile apps or USSD, Internet banking, bank deposit and all POS agents.”