‘Telecom Subscribers Will Be Ultimate Beneficiaries Of MVNOs’

The group managing director, Routelink Group, Femi Adeoti, has said subscribers will be the ultimate beneficiaries as the Mobile Virtual Network Operators (MVNOs) licence takes a deeper root in Nigeria’s telecom space.

The Nigerian Communications Commission (NCC) recently introduced the MVNOs licence in its bid to engender competition and provide choices for telecommunication consumers. MVNOs are carriers that don’t have their own wireless network but instead, they piggyback off another carrier’s platform for coverage through their cell phone plans.

Routelink Group has four different licences from the NCC including the MVNO which the commission believes will boost job creation and close the gap between the unserved and the underserved Nigerians.

Adeoti said yesterday that the MVNOs will ultimately translate into lower costs, more service options and better quality of service for subscribers, reiterating Routelink’s commitment to making a major difference in terms of quality of service and innovation.

On the rising incidents of cyber frauds resulting from online transactions, Femi Adeoti , who was the immediate past managing director and chief executive officer, African operations, Inlaks, explained that implementing strong security measures through the use of technologies like encryption, two-factor authentication, and tokenization to protect sensitive financial information could prevent unauthorised access to accounts.

According to him, data analytics and other tools can be used to monitor transactions for suspicious activity and flag potential fraud, while Identity verification and biometric authentication can be used to confirm the identity of users before allowing them to access accounts or complete transactions.

“Employees should be educated and trained on the importance of fraud prevention and how to detect and prevent fraud. This can help ensure that there is a primary focus on fraud prevention in the entire company.

“Then, it is important to Stay up to date on the latest fraud prevention techniques. Fraudsters are constantly finding new ways to commit fraud, so the payment landscape needs to stay on top of the latest digital payment trends and techniques in fraud prevention to stay one step ahead. And customers should be kept informed. Periodic publications and messages should be sent to customers to inform them of the need to be security conscious,” he further explained.

Since security is at the heart of e-payment, he said that protecting customers should be a key decision for operators. “At RoutePay, we are aware that the issue of fraud is one of the reasons that people do not trust digital payment platforms, so we invested in world-class security infrastructure to ensure that our customers’ transactions and data are safe with us.

“We have deployed systems that monitor and prevent fraud from happening and have conducted proper analysis of events that could lead to fraud and fraudulent practices. Our systems are proactive and very reliable as it is our mission to ensure that our transactions are safe.’’

He said operators should be intent on enhancing connections in the payment space, providing solutions and infrastructure that will make payment possible and available without hassles, and drive digital payment transformation in a changing and demanding world thereby building more trust in digital payments.