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August 7, 2018

Nigeria Stock Exchange introduces e-payment platform X-Pay

The Nigerian Stock Exchange (NSE) has launched an e-payment platform called X-Pay to enable users make payments for all products and services offered by the bourse.

Accessible through PCs, tablets, smartphones and other electronic devices, X-Pay accepts VISA, MasterCard Verve and UnionPay credit and debit cards.

The platform aims to facilitate swift and secure payments with various features such as dynamic search functionality, intuitive products display and invoice payments.

NSE shared services division head Bola Adeeko said: “We are thrilled to launch X-Pay, a solution that builds on our customer centric focus and our efforts to transform the Nigerian capital market into a more efficient model.

“X-Pay reinstates our commitment to move towards cashless transactions and build a sustainable cashless ecosystem, while satisfying users’ preferences for self-serve bill payment options that is convenient and secure.”

The introduction of X-Pay is expected to support NSE’s objective of enhancing operational efficiency and lowering transactional costs.

“With X-Pay, our stakeholders will now enjoy easy access to a wider catalogue of our products and services, be able to select and purchase from anywhere, at any time. Not only will X-Pay be convenient, it will also provide huge opportunity for NSE to maximise its capacity and realise increased efficiency through automated processes and better data integration,” Adeeko added.

The exchange introduced X-GEN trading platform in 2013 as part of its digitisation endeavours.

Further, it launched various other solutions including TradeSmart to support its dealing member firms in extending their reach, as well as X-ISSUER and X-BOSS solutions to fulfil regulatory requirements.

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