SwiftPay is a new service from Access Bank that will help SMEs with digital payments.
SWIFTPAY, a digital payment service from Access Bank Plc, makes it easier for businesses to receive payments by allowing customers to make fast, convenient, and safe digital payments to merchants through social media platforms.
This is in order to improve payment facilitation between SME and retail customers in the digital realm.
During the launch of the new service in Lagos, Ayodele Olojede, Group Head, Emerging Businesses, Access Bank, told journalists that the lockdown in 2020 as a result of the COVID-19 pandemic resulted in less in-person interactions and payment choices.
MSMEs were affected by cash flow, income, and sales, according to figures from a post-lockdown study, she said, adding that the pandemic’s effects highlighted the lack of infrastructure and access to digital services for small businesses.
“This is why Access Bank created SWIFTPAY to help SMEs make the digital transition and expand.
This product is part of the Bank’s dedication to helping SMEs achieve their business goals regardless of the economic climate.
The new service is in the form of a payment connection that merchants can post on their social media accounts and send to anyone to pay for and complete business transactions.