Business

Wema Bank, Enza group to boost e-commerce

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2 years ago

From left, 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 in Lagos

ENZA, the acclaimed new disruptor in the African payments market has announced its strategic partnership with Nigeria’s most innovative bank, Wema Bank.

Through this partnership, 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.

Wema Bank, renowned for its forward-thinking approach and commitment to innovation, will leverage Enza’s payment orchestration capability to further enhance the bank’s existing e-commerce payment services. Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT.

According to the bank, this alliance is a further step in the bank’s digital transformation journey, reinforcing its 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,” a statement from the bank noted.

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

The lender revealed that 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 synergise 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.

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