CashUrban, a new electronic payment solution that allows cash exchange between users and merchants within the same neighbourhood is about to enter the Nigerian market.
CashUrban has been designed to address a crucial challenge plaguing the Nigerian payment space today. Despite that banks make lots of efforts to provide ATMs for easy cash accessibility, they aren’t enough. Sometimes, the available ones wouldn’t have the cash to dispense, thereby making users travel long distances to access their money. Besides the stress, this is a very discomforting and daunting situation that many Nigerians can relate to.
According to its Lagos-based parent company, Total Infotech & Telecoms Limited, CashUrban will serve as an online platform where seamless and secure cash exchange will be done by users through the assistance of cash merchants registered on the platform. The CEO, Olaniyi Adeosun elucidates the activities of merchants on the platform.
Our solution has been designed to address and close up the obvious gaps and challenges inherent in the Nigerian payment market today. What we are bringing to the marketplace is a simple, easy to use, but unique solution that can simplify the way we access our cash in the banks. With registered merchants such as shops, supermarkets, filling stations, shopping malls etc all around us, people will find it convenient to access their money,” Olaniyi Adeosun, explains
Registration on CashUrban is free and to present a win-win scenario, cash merchants will be rewarded tokens for providing services to customers. To qualify as a merchant, all that’s required is a simple online registration process, which would prompt the submission of identification form and details. After this, CashUrban will swing into some verification process to ensure that all information submitted meet the required criteria to serve the public.
Olaniyi hints that one of the important requirement for cash merchants (any business that handles petty cash such as shops, supermarkets, petrol stations, lotto shops, sports betting companies, electricity token vending companies etc.) is an open environment, where they can hand over cash conveniently and guarantee the safety of users.
The platform is currently offering a free registration of merchants that will partake in the service delivery to intending users across the country. CashUrban’s activity is hinged on one primary vision: to add value to lives of people by making access to cash easy for everyone, everywhere, every time.