“Digital payment adoption in Nigeria needs infrastructure upgrade,” says Deremi Atanda

Deremi Atanda, the Managing Director of Remita Payment Services Limited (RPSL), a leading financial technology firm in Nigeria, has called for quality infrastructure to support the growth of digital payments in Nigeria.

Speaking during the first edition of the SystemSpecs Tech Innovation Webinar Series held recently in partnership with FintechNGR, ‘Deremi stressed the importance of adequate infrastructure development to enable a sustainable digital payment system in the country.

The event, themed “Cashless Policy: Sustaining Digital Payments beyond the Currency Redesign,” drew together some of the finest minds in the fintech industry including Dr Henrietta Onwuegbuzie, Director, Business Innovation Accelerator, Lagos Business School.

Other people in attendance were Tomilola Majekodinmu, Founder/CEO of Bankly; Demola Igbalajobi, Managing Director, SystemSpecs Technology Services(STSL) and others who discussed how to sustain digital payments in Nigeria best.

At the webinar, Deremi emphasised the importance of the cashless policy in promoting financial inclusion, reducing the cost of currency management, and enhancing the efficiency of the payment system. However, he also warned that the policy cannot succeed without a significant upgrade of Nigeria’s infrastructure.

The SystemSpecs Technology Innovation Webinar Series serves as an ingenious platform thoughtfully curated to proffer innovative solutions to a range of economic, financial, and other national challenges.

“Provide infrastructure to the last mile, ensure there is awareness, and that is where we talk about the four A paradigm. The first one is Awareness, people must know what there is; the second is Adoption; the third is Acceptance and the fourth is Acculturation making it a way of life where you keep reinventing the first three ‘As’,” he added.

Acknowledging the existing challenges hindering the widespread adoption of digital payments, including poor network connectivity, low levels of literacy, and inadequate infrastructure, ‘Deremi accentuated the need for a collaborative effort among fintech companies, the government, and traditional financial institutions to effectively tackle these daunting challenges.

“Fintech companies have a vital role to play in promoting financial inclusion and driving digital payments. We need to collaborate with other stakeholders, including the government and traditional financial institutions, to achieve our objectives,” he stated.

As the Managing Director of Remita Payment Services Limited (RPSL), ‘Deremi Atanda is responsible for driving the company’s growth and expansion strategy, building strategic partnerships, and overseeing the development of innovative digital payment solutions.

Under Atanda’s leadership, Remita has become a major player in Nigeria’s fintech industry.

Remita is a leading financial technology company based in Nigeria, providing innovative payment solutions to individuals, corporates, organisations of any size, and state and federal governments.

Remita’s cutting-edge solutions have been recognised both locally and internationally, earning the organisation numerous awards including the Best Lending Support Service Provider and Best Corporate Payments Platform accolades from the Central Bank of Nigeria (CBN) in 2022.

In a rapidly evolving fintech industry, Remita remains at the forefront of innovation, continuously developing new products and services to meet the evolving needs of its customers. Its focus on excellence, customer satisfaction, and social responsibility sets it apart as a leading player in the Nigerian fintech landscape.