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Goodbye Debit Cards

Gbemileke Ajayi

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Last weekend, I was at the cinema to watch the latest instalment of the Mission Impossible sequel; Fall Out. I had watched it over two months ago, but I had been busy with exams and there are some things in life you only watch on a big screen. The movie had received very good reviews and was still showing at Silverbird Cinemas, Ikeja City Mall and a few other locations.

Ikeja City Mall on a weekend is a great place to hang out with friends and family, but its popularity also leads to overcrowding, which could mean long lines of people waiting to be served. I, however, shrugged off this thought with the consolation that ‘It won’t be that bad’.  Little did I know of the wahala ahead. I took an UBER ride from my house to the mall, arriving there 1.59pm, 21 minutes before the movie started. On getting to the cinema floor, I met a large crowd of agitated cinemagoers and frustrated attendants shouting back and forth. I stood there in disbelief. “Which kind line be this one now,” I said to myself. This was 2.03pm and my heart was already racing. I could not miss a second of this movie.  I bravely joined the queue, checking my watch every minute. 15 minutes later I heard, Next!!!! ‘Finally,’ I said to myself. I approached the counter and the attendant stared at me and asked ‘Yes, what can i do for you?’ I marvelled at her question, smiled and pointed to the Fallout movie poster behind her. She looked at the poster and responded ‘N2, 500’. ‘Ok,’ I replied as I handed her my card to make payment.

The attendant collected my card and brought out a gigantic POS terminal, ‘Just to collect N2, 500’ I wondered. She tried the POS the first time – TRANS FAILED, she looked at me and tried a second time; TRANS FAILED. ‘Oga, your card is not working’ she said. I searched through my wallet and realized I only had N3,000 cash.  Mental calculation… ‘That’s was my UBER ride back home’. Comments were already flying, ‘What is this one doing’, ‘Oga shift don’t waste our time, the movie is about to start o…’.

I looked at the hostile attendant’s face and the agitated crowd behind and reached for the N3,000 in my wallet.  Just as I was about to hand them over I saw a ‘MasterPass and mVISA ACCEPTED HERE’ sign and my mind went ‘Scan to Pay’. With my confidence back, I placed my notes back in my wallet and brought out my phone.  I looked at the attendant and responded with a smile ‘I will pay with Scan to Pay’. The attendant shifted the sign closer to me and I scanned the QR code.

As I scanned the QR code, I felt prying eyes from the crowd wondering what I was doing and then it happened my receipt came out of the printer. I collected my ticket from the attendant together with a coupon for a free popcorn and drink and walked away from the payment point with the swag of a big boy. As I walked away, a person on the queue stopped me and asked, ‘What was that?’ pointing at the sign. I responded smiling ‘That is the payment option to use. That’s the way to pay’.

So, if you are heading over to the cinema this weekend, just ask the attendant that you want to Scan to Pay and you will be marvelled.

BUSINESS

How To Prevent Unauthorised Transactions On Your Zenith Card Or Token If Stolen [MUST READ]

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Has your mobile phone, Zenith Bank Card or Token been stolen or misplaced?

You can prevent any unauthorized transactions on your account by simply dialing 966911#.

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BUSINESS

Heirs Holdings Signs $600 million Loans With Afrexim Bank, To Scale Its Energy Investments

Gbemileke Ajayi

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As a further demonstration of the African Export-Import Bank’s (“Afrexim”) mandate to facilitate the growth of intra-Africa trade and support the development of African businesses, Afrexim today, signed financing facilities totalling US$600 million with the Heirs Holdings Group, a pan-African proprietary investment holding company.

Heirs Holdings has significant investments across Africa, in the financial services, resources, real estate and hospitality and power sectors. The facilities will further support the Group’s power, oil and gas strategy, as it positions itself as an African leader in integrated natural resources. The signing ceremony took place at the Afrexim Intra-Africa Trade Conference taking place in Cairo, Egypt.

The proceeds of the facilities will assist the Heirs Holdings Group vision of creating a dynamic resource based division, focused on ensuring value creation occurs on the African continent and that value chains are developed, that directly benefit the broader African economy and consumer.

Commenting at the ceremony, Dr. Benedict Oramah, President of Afrexim who signed on behalf of the Bank, stated that the investment by Heirs Holdings would play a key role in addressing some of the fundamental challenges that have affected the power and energy sectors in Africa. He stated that “A world class energy sector is fundamental to the sustainable growth of businesses in Africa. If we do not deal with these basic matters, growth of trade and exports will always be limited”.

Mr. Tony Elumelu, the Chairman of Heirs Holdings, commented that “We are delighted to be partnering with Afrexim. The Bank continues to play a critical role in the economic and social development of the continent. Together, we illustrate that Africa can create world class institutions, which are capable of successfully making the long-term investments necessary for Africa’s economic transformation and catalyse the enabling environment that will unleash Africa’s potential”.

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BUSINESS

UBA Academy Gets CIBN Accreditation for Excellence in Training, Capacity Building

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In recognition of its high standard, quality of human resources development, training and capacity building, The Chartered Institute of Bankers of Nigeria(CIBN) has certified and awarded UBA Academy the certificate of accreditation in line with the Central Bank of Nigeria’s Competency Framework for the banking industry .

UBA Academy, the dedicated learning and development centre of the Pan African financial institution, United Bank for Africa (UBA) Plc, was accorded the new recognition of excellence at a ceremony presided over by the President/Chairman of Council of the institute, Dr. Uche Olowu in Lagos on Thursday.

According to the president of the institute, UBA Academy was conferred with the new status having met the rigorous standards set for the delivery of their suites of programmes by the Institute.

The certification follows rigorous assessment exercise carried out by the institute’s Capacity Building Committee, the accreditation agency under the competency framework for the country’s banking and finance industry instituted by the Central Bank of Nigeria.

“This Accreditation is an affirmation that UBA Academy has adopted and complied with the minimum assessment standards for programmes run by the organisation, which have gained a label of recognition and distinction,” Olowu said.

According to him the accreditation of UBA Academy would enable its graduates to be eligible for exemptions from various subjects in the banking professional examinations thereby facilitating their completion of the Chartered Banker examination. “This will not only enable them comply with the provisions of the Competency Framework for the banking industry, it will go a long way in the strengthening of the intellectual resources and capabilities available in their institutions,” he concluded.

Speaking at the ceremony, the Bank’s Group Head Human Resources, Mrs Patricia Aderibigbe, while appreciating the recognition conferred on the UBA Academy, said the academy has already embarked on training for the future with digitisation of its training programmes and modules.

“With Ignite, UBA has taken training into the future as we believe that the only way to get the best results and continually stay ahead of the curve is to continually sharpen our most important asset – our people, using mobile technology,” Aderibigbe said.

Aderibigbe promised that UBA Academy will continuously seek improvement in ensuring that it serves the needs of industry in a changing banking industry.

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