WemaPay is a product designed for the Bank’s customers who have periodically recurring value payments.

Payments are made via the Switch Network or Real-Time Gross Settlement (RTGS) platform.

Payments can be channelled to customers of member banks on the InterSwitch platform. Such payments include subscription charges, scheduled payments/standing orders, single debit and multiple credit transactions (i.e. salaries, contractor payments, etc.) and multiple funds transfer.

·          Efficient processing/payment of salaries

·          Remote payment capability by suppliers and contractors

·          End-to-end Supplier Payment Management System

·          Funds lodgement in beneficiaries’ accounts with confirmation via SMS and e-mail

·          No additional investment in IT Infrastructure required

·          Multi-bank processing capability from one location

·          Electronic viewing of consolidated bank balances, reports and audit trails

·          Ability to make payments to microfinance and mortgage banks

·          Provision of amount-based security

·          Replication of existing payment workflow

·          Salaries attract N100 per transaction

·          Draft (as approved by management)