Wema Bank, Enza Collaborate to Boost Ecommerce Payment System

Wema Bank, Enza Collaborate to Boost Ecommerce Payment System

By THECONSCIENCEng 

Enza, a fresh force in the African payments market has announced a strategic partnership with Nigeria’s Wema Bank.

Through this fresh deal, enza will engineer its innovative payment solution to expand Wema’s ecommerce payment capabilities, thereby improving the quality of service to merchants, enhancing payments security, increasing service reliability, and significantly reducing operating costs through transaction optimization.

Wema Bank will leverage enza’s payment orchestration capability to further enhance the bank’s existing e-commerce payment services following the new move announced on Thursday.

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Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and is also one of Nigeria’s most renowned banks. This alliance is a further step in the bank’s digital transformation journey, reinforcing their position at the forefront of payment innovation in Nigeria.

The enza payment service will offer an array of benefits to Wema customer businesses and individuals alike merchants will gain access to an improved suite of payment processing features, enabling them to accept a wider range of payment options, including all payment cards, e-wallets, and more.

L-R: Divisional Head, Payment Business, Wema Bank, Damola Bolodeoku, CEO of enza, Hany Fekry and Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku at the unveiling of the partnership on Thursday in Lagos

The streamlined and resilient payment processes will ensure quick and hassle-free transactions, enhancing the overall customer experience for those making and accepting payments.

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enza has been creating ripples in the industry since its inception late last year. “Our mission is to simplify payments across the region, thereby enabling seamless and secure transactions across the Middle East and Africa,” said Hany Fekry, the CEO of enza. “This new partnership with a premier Nigerian bank further accelerates our progress towards that goal.”

Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, says the innovation will empower the Bank’s clientele to embrace a wider spectrum of payment alternatives, encompassing diverse payment cards, e-wallets, and more. In his view, the streamlined and resilient payment processes will ensure the swift and hassle-free completion of transactions, thereby enriching the holistic customer experience for both payment initiators and recipients.

Divisional Head, Payment Business, Wema Bank, Damola Bolodeoku, emphasizes the harmonious alignment between this partnership and the Bank’s overarching strategy of continual innovation and service enhancement. Bolodeoku affirms, “As an establishment that takes pride in its role as a digital frontrunner within the banking sector, we are enthralled to synergize with enza Group to introduce a revolutionary ecommerce payment gateway solution. Through this synergy, we ardently anticipate amplifying our ecommerce payment capacities and delivering heightened value to our customers through all avenues.”

In a region where digital payment technologies are rapidly evolving, this partnership provides both enza and Wema Bank a platform to redefine the ecommerce payment landscape. The bank and their customers will benefit from increased security, top-tier service reliability, and most importantly, significantly reduced costs.