Bank customers express preference for e-payment transactions

Some bank customers say they prefer the use of Fintech companies like OPay, PalmPay, and others for their electronic transactions in spite of fraud allegations against the companies.

Some of the customers, who spoke with NAN in Abuja on Tuesday, described the platforms as reliable, fast, and cheaper.

A tomato seller, Peace Samuel, said she opened an account with OPay during the cash crunch to facilitate her electronic transactions.

Samuel said the online banking platforms had not failed her since she opened it, saying “many of my customers still do online transactions and I receive my alerts immediately.”

“Although, anytime I give customers my account details for my Deposit Money Bank (DMB) to transfer money to me, I might not receive the alert immediately and sometimes, the money will not come at all.

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“I do not know what people are saying about fraud but one thing I know is that I have never experienced such before,” she added.

Another customer, Elvis Abdu, said PalmPay was cheaper than other DMBs, adding that their complaints resolution mechanism was also reliable.

“I had issues with PalmPay sometimes and immediately I called them, my money was sent back to my account almost immediately.

“This is unlike most banks where you have to take number to enter, fill form and at the end, the money won’t be returned immediately,”
he said.

Another customer, Chris Idu, said he opened an account with OPay during the cash crunch, adding that he was careful in his dealings with the company.

There were viral videos which showed how some youths were using the companies to defraud their customers.

The Central Bank of Nigeria (CBN) had also described as fake, the news making the rounds that it suspended accounts of OPay and PalmPay.

The CBN Acting Director of Corporate Communications, Isa AbdulMumin, on Friday, April 7, said viral news “is simply fake”.

The viral news credited to AbdulMumin claimed CBN was about to suspend accounts of the Fintech companies because they were being used to perpetrate fraud.

The Star