E-Payment: CeBIH canvasses cooperation among banks

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The Committee of E-Banking Industry Heads has called on banks and other electronic payment service providers to embrace cooperative competition to enhance industry growth.

Established in July 2009, CeBIH comprises all heads of e-business/e-channels and cards services of all the 23 banks in the country.

The primary objective of the committee is to promote electronic banking services in line with global best practices and serve as a forum for sharing ideas and experiences by the e-banking industry heads.

In a statement on Tuesday, the Chairman, CeBIH, Mr. Dele Adeyinka was quoted to have said, “Our industry needs a strong culture of cooperative competition among the various stakeholders to enable it maximise its potential and opportunities while we collectively fight our battles and enjoy different levels of victory.

According to him, cooperative competition among stakeholders requires interactions and sharing of ideas for the benefit of all.

The committee, he said, was prepared to lead the course of creating an enabling environment for the industry players to come together more frequently and rub minds on ways of moving the industry forward.

Adeyinka spoke at the sixth annual retreat of the committee in Abuja, the statement said.

“This will be coming in the form of quarterly breakfast forums to review and appraise the performance in a previous quarter and set an agenda for the following quarter as well as other programs aimed at fostering collaboration in the industry,” he added.

Speaking on the theme of the retreat, “Disruptive technology and the future of payments”, Adeyinka noted that banks needed to continuously evolve to remain competitive and relevant to consumers in view of the changes in the way individuals and businesses accept payment.

He said, “The payment industry has recently witnessed the entry of diverse nonbank digital players – both technology giants and start-ups- who are presenting increased competition for banks.”

While these categories of entrants have generally not been major threats to the banking and payments industry in the past, the aggressive nature of the digital players,  the prominence of smartphones as a channel and rapidly evolving customer expectations have all made a difference in recent past.

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