iRecharge Tech-Innovations LTD, an industry player focused on consumer services, digital alternatives, payment processing and enterprise applications, has launched a payment solution.
It is a patented and unique system that enables easy and convenient payment of recurring bills.
The new service enables customers to make their frequent payments for utility bills using a unique NUBAN account number.
According to a statement, customers can find their utility company account numbers, cable TV decoders, electricity meters, etc. by visiting their website.
With this system, customers no longer have to reveal their card details online in order to make payments for services.
It also reduces the number of steps and time it takes to pay bills in mobile applications or at physical points of sale.
All a customer needs to do is transfer the purchase value or subscription amount to the pre-assigned account number for instant value.
The company’s CEO, Mr. Tomi Araromi, said the innovation is miles ahead of the traditional 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 payment ecosystem as customers only need to get the account number for the utility or service once.
“This mechanism promotes inclusion as payment for power tokens or cable subscriptions can be made through any of the banking channels such as ATMs, mobile banking apps or USSD, internet banking, bank deposits and all POS agents.”
