E-Payment: CeBIH calls for cooperative competition among stakeholders

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The Committee of E-Banking Industry Heads has called on banks and other electronic payment service providers to embrace ‘cooperative competition’ in order to maximise the potential of the industry.

E-Banking
E-Banking

Established July 2009, CeBIH comprises all heads of e-business/e-channels and cards services of all the 23 banks in Nigeria.

The primary objective of the committee is to promote electronic banking services in line with global best practices and serve as a forum for sharing ideas and experiences by e-banking industry heads.

Speaking at the sixth annual retreat of the committee in Abuja,  the CeBIH Chairman, Mr. Dele Adeyinka, stated, “Our industry needs a strong culture of cooperative competition among the various stakeholders to enable it to maximise its potential and opportunities while we collectively fight our battles and enjoy different levels of victory.

In a statement issued after the retreat, Adeyinka was quoted to have further said, “Cooperative competition among stakeholders requires interactions and sharing ideas for the benefit of all, the Committee of e-Banking Industry Heads is prepared to chart the course of creating an enabling environment for the industry players to come together more frequently and rub minds on ways of moving the industry forward. This will be coming in the form of quarterly breakfast meetings review.”

Speaking on the theme of the retreat, “Disruptive technology and the future of payments”, the CeBIH chairman noted that banks needed to continuously evolve to remain competitive and relevant to consumers in view of the changes in the way individuals and businesses could accept payment.

He said, “The payment industry has recently witnessed the entry of diverse non-bank digital players – both technology giants and start-ups who are presenting increased competition for banks.

“While these categories of entrants have generally not been major threats to the banking and payments industry in the past, the aggressive nature of the digital players,  the prominence of smartphones as a channel and the rapidly evolving customer expectations have all made a difference in recent past.”

He added, “To maintain the customer relationships and stay relevant, there is a need for all stakeholders to respond to these changes with new strategies, capabilities, and operating models.

Source: http://punchng.com/e-payment-cebih-calls-cooperative-competition-among-stakeholders/


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