Recently updated on October 24th, 2022 at 04:13 pm
Winners have emerged at the 2018 Digital Pay Expo Awards, which held at Eko Hotel & Suites, Lagos.
Digital Pay Expo brings together stakeholders in digital financial services to discuss key issues affecting the payments industry. The event focuses on Innovative Financial Services for the unserved segments of the society.
FarePay won the utility payment card award.
The smart payment solution introduced by, Sterling Bank Plc eliminates challenges associated with Bus Rapid Transit (BRT) such as facing long queues to purchase a ticket or handling exact cash fares for a trip.
FarePay cards are prepaid and reloadable through the user’s bank accounts and can be activated through an ATM or USSD. Card holders are no longer burdened with facing long queues for tickets or having to carry the exact fare for trips.
Out of seven award categories at the event, two cards were nominated for the most utility relevant card category with Sterling Bank’s FarePay card emerging as winner in the category. FarePay cards are built on a contactless payment technology, with a connected bus validator system linked to the users’ bank account allowing passengers to ‘tap in and tap out’ of BRT buses with ease.
Commenting on the award, Executive Director, Corporate and Investment Banking at Sterling Bank, Yemi Odubiyi, said:
Ecobank Nigeria emerged winner in two award categories, ePayment and Partnership, at the 2018 Digital Pay Expo Awards.
According to the Bank’s Executive Director, Consumer Banking, Carol Oyedeji:
“We are not in any way surprised at these awards. As a bank, we realised many years ago that payment drives the society and digital banking is the way to go. We put structures in place and today, we have become a clear leader in the industry.”
