Wema Bank, Enza  Partner to Boost E-commerce Payment

Enza’s innovative Payment Orchestration will enable Wema Bank to provide secure and reliable payment options at a reduced cost.

Enza,  a new disruptor in the African payments market and Wema Bank Plc yesterday  a strategic partnership  to boost e-commerce capabilities in Nigeria.

According to  a statement, Enza will engineer its innovative payment orchestration solution to expand Wema’s e-commerce payment capabilities, thereby improving the quality of service to merchants, enhancing payments security, increasing service reliability, and significantly reducing operating costs through transaction optimisation.

The statement explained that Wema Bank  will leverage enza’s payment orchestration capability to further enhance the bank’s existing e-commerce payment services.

Commenting, the Chief Executive Officer, Enza, Hany Fekry, said:  “Our mission is to simplify payments across the region, thereby enabling seamless and secure transactions across the Middle East and Africa. “This new partnership with a premier Nigerian bank further accelerates our progress towards that goal.”

On his part,  Executive Director of Retail and Digital Business,

Wema Bank,  Tunde Mabawonku, said the innovation would  empower the bank’s clientele to embrace a wider spectrum of payment alternatives, encompassing diverse payment cards, e-wallets, and more.

According to him, 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.

Also speaking, Divisional Head, Payment Business, Wema Bank, Damola Bolodeoku, emphasised the harmonious alignment between this partnership and the bank’s overarching strategy of continual innovation and service enhancement.

 “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,” he said.

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