Prime Avis Investment Services Limited also known as “PrimePay”, a digital lending company, has successfully disbursed 1000 loans in less than six months of operations.

Although the total amount of loans disbursed wasn’t mentioned, but this is coming on the heels of the company’s recent approval from the Federal Competition and Consumer Protection Commission (FCCPC), which will further help boost its operations.

Commenting on the Company’s achievements within the short period, Mr. Oreoluwa Faseru, the Chief Technology Officer, expressed his gratitude to PrimePay customers for their support and patronage, which has enabled the company to achieve this remarkable feat.

He said, “We are grateful to our customers for their trust and loyalty, which has helped us to reach this milestone. At PrimePay, we are committed to being a worthy financial partner to our customers by providing them with innovative financial solutions that meet their needs.”

Faseru added “PrimePay has revolutionized the lending industry in Nigeria by leveraging several familiar channels to disburse loans, including USSD, WhatsApp, Instagram, and Facebook. This makes PrimePay the first of its kind in Nigeria to offer lending services through some of these channels, making it easier for customers to access loans conveniently. Customers can apply for loans by simply dialing *258*6# on their mobile phones, chatting with PrimePay’s Bot on WhatsApp number 08185460000, direct messaging to @prime.pay on Instagram, and @primepay on Facebook’ and simply saying ‘Hello’.

Additionally, Faseru said that “PrimePay’s digital lending platform is designed to provide quick and convenient access to credit for individuals and businesses. The platform offers flexible loan repayment terms, competitive interest rates, and a user-friendly interface that makes it easy for customers to apply for loans and manage their accounts. We offer other financially relieving products that take care of emergency needs and wants of our customers across board. It is a quick fix as long as you are fit for the loan which is aimed to save our customers from emergency needs that can cause embarrassment”.

With the recent approval from the FCCPC, PrimePay is poised to expand its operations and reach more customers across Nigeria. The company is committed to leveraging technology to provide financial solutions that are accessible, affordable, and convenient. We are not restricted by space or border; we go over and above to delight our customers and prospects making their experience a delectable one”.  

– Oreoluwa Faseru

Faseru appreciated PrimePay’s esteemed customers for their continued support and encouraged them to take advantage of the company’s digital lending platform to meet their financial needs.

He submitted “We are committed to providing our customers with the best possible service, and we look forward to serving them better in the future.

We are continuously developing products that will not only meet their emergency needs but also secure their dreams of fulfilling some salient ambitions financially. We aim to be a one-stop shop for your financial needs/support. 

– Oreoluwa Faseru

The organisation has said that its digital loan solutions will make funds available for customers to stock up, purchase necessary gift items for their loved ones, pay salaries and meet other financial obligations before, during and after the Valentine’s Day celebration.

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Olajumoke Bello, Head, Enterprise Direct, Business and Commercial Client, Stanbic IBTC Bank, said, “Individuals need to show love and be loved in return. Gifting remains one of the best ways to express love, and limited cash should not hinder achieving this. As for businesses, none deserves to be cash trapped. They must seek easy and seamless opportunities to cash flow to keep the business running at all times.”

Olajumoke explained that the Bank has an SME EZ Cash short-term loan offering to business owners that fulfil specific qualifying requirements. It gives access to up to N5 million at a monthly interest rate of 3% and up to twelve months repayment period. Eligibility for EZ cash includes having an account for at least six months with no illegal overdrafts or returned cheques.

Women in business can gain better and simpler access to business funding through Stanbic IBTC’s Blue Blossom. A product for women to bridge the financial gap in their careers and enterprises and boost their economic empowerment.

A Blue Blossom account holder enjoys benefits including a zero current account maintenance (CAM) cost, access to business clinic sessions, a 0.50% reduction on loan management costs, and access to lending facilities at exceptionally competitive rates with a minimum account initial balance of N20,000.

Merchants can receive payments over USSD using the C’Gate Payment. The system can accept payments through POS terminals and the online web payment platform.

Stanbic IBTC Point of Sale (POS) is accessible for quick payment receipts from debits, payment of bills, and airtime purchases.

PrimePay, a payment solution that enables retailers accept payments from their consumers with one link, using various payment methods, is also available. It connects to a merchant’s current website, and clients may complete purchases using any supported online payment methods. We also offer Payment Gateway Service for businesses to receive card payments directly from their websites and NQR Payment Solution to allow merchants receive payments via a secure QR code-based platform.

“With Stanbic IBTC digital products, customers can do more from the comfort of their homes. We offer ease and convenience while they carry out transactions of any kind. I urge existing and prospective customers to take advantage of our propositions and I wish you all a Happy Valentine’s celebration,” Olajumoke said.

These financial solutions include C’Gate Payment, Payment Gateway Service, PrimePay, and POS terminal.

The Bank observed the challenges businesses face when receiving payments during transactions. Thus, its digital payment products will enable business owners to collect payments for transactions more efficiently.

Speaking on the digital products, Olutimi Ibrahim, Head, Digital and eCommerce, Stanbic IBTC Bank said the digital solutions were carefully thought out with business owners in mind to allow them to transact business seamlessly.

He said, “Digitalisation has simplified financial processes across the board, and as an institution at the forefront of innovation, we want business owners and merchants to be able to attend to their customers efficiently and receive payments easily. These digital payment solutions are made to suit the needs of merchants and businesses of all sizes and solve their business problems.”

“With the C’Gate Payment, a merchant can generate a unique reference code to give the customer. The customer then dials *USSD*000*unique code# and follows the prompt to complete transactions. Our  Payment Gateway Service is a newly improved service that enables merchants to integrate easily to their website to receive payment. It allows multiple payment options such as USSD, card payments, QR codes, and account payments.

It also accepts various banking cards like MasterCard, VISA, Verve, Amex, Union Pay, and others,” he added.

Another product is the PrimePay portal which allows merchants to receive payments by getting a personalised payment link and accepting payments via USSD, card payment, bank transfers, QR codes, and mobile wallets. With the Stanbic IBTC POS terminal, merchants can receive payments after transactions easier and faster as the gadgets have been configured to reflect payments made as they come in without hitches.

Olutimi said “Stanbic IBTC Bank is constantly in search of innovative means to enable merchants to receive payment from their customers during business transactions. I urge them to take advantage of our digital payment products. New business owners are welcome to use these services as well.”

Stanbic IBTC Bank remains committed to providing new innovative solutions to improve customers’ banking experience.