Wema Bank Empowers MSMEs With Cutting-edge Collection, Payment Solutions Suite

Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first-fully digital bank, ALAT, has announced the re-launched of its state-of-the-art suite of Micro, Small and Medium Enterprise [MSME] solutions designed to provide businesses and customers with a diverse range of seamless collection and payment platforms.

Boasting both physical and contactless payment options, the MSME collection and payment suite includes ALAT For Business, NQR, ALATPay, MyBusiness Card and the Wema POS machine.

ALAT For Business [AFB] is the Bank’s digital App made exclusively for business owners. While customers use ALAT to pay merchants, these merchants use AFB for bulk payments. On AFB, business owners can make payment to 5,000 beneficiaries in one transaction, optimise salary payments, invoice discounting, cashflow analysis, Form Q Initiation, and even FX transactions.

ALATPay on the other hand, is a payment gateway website on that allows seamless payments with instant confirmation for both customers and business owners. Wema NQR provides “scan-to-pay” options for faster contactless payments via QR Code.

The Wema POS Machine allows businesses receive card, transfer and alternative point-of-sale payments without hassles. While MyBusinessCard, is a Business Card that offers business owners priority service in Branches, increased transaction limits, supplementary cards like Virtual Cards, discounted offers on Ads, HR solutions and so much more.

According to Ayodele Olojede, Wema Bank’s Divisional Head, Retail and SME, this unique suite of solutions presents a unique opportunity to engender and accelerate digital and MSME empowerment in Nigeria.

“At Wema Bank, MSMEs hold a special place in our heart. Our dedication to supporting MSMEs with viable solutions and resources is not just ‘box ticking’, it’s a lifelong mission that we are committed to seeing through. These re-launched platforms guarantee business owners the flexibility of focusing more on profit adding business activities.”

“Seamless and efficient processes are a non-negotiable requisite for achieving and sustaining true business success and with these relaunched solutions, I encourage all business owners to visit www.wemabank.com/sme/collections-and-payment to access and onboard on the full suite of solutions,” she concluded.

Distinguished for its indispensable role in strengthening the MSME sector, Wema Bank consistently provides essential financial solutions, material and intellectual resources that empower businesses for optimum operational efficiency, growth, and success.