Wema Bank, Enza to Boost E-Commerce Payment

Olufemi Adeyemi

ENZA, the acclaimed new disruptor in the African payments market has announced its strategic partnership with Nigeria’s most innovative bank, Wema Bank.

L-R: Divisional Head, Payment Business, Wema Bank, Damola Bolodeoku, CEO of Enza, Hany Fekry and Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, at the unveiling of the partnership in Lagos

Enza group is collaborating with Wema Bank to boost e-commerce payment through enza’s innovative Payment Orchestration.

The enza’s innovative payment orchestration will enable Wema Bank provide secure and reliable payment options at a reduced cost, according to a statement by the group.

Through the partnership, enza will engineer its innovative payment orchestration solution to expand Wema’s e-commerce payment capabilities, thereby improving the quality of service to merchants, enhancing payments security, increasing service reliability, and significantly reducing operating costs through transaction optimisation.

Wema Bank will leverage enza’s payment orchestration capability to further enhance the bank’s existing e-commerce payment services. Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and is also one of Nigeria’s most renowned banks.

This alliance is a further step in the bank’s digital transformation journey, reinforcing its position at the forefront of payment innovation in Nigeria.

The enza payment orchestration service will offer an array of benefits to Wema customer businesses and individuals alike merchants will gain access to an improved suite of payment processing features, enabling them to accept a wider range of payment options, including all payment cards, e-wallets, and more. The streamlined and resilient payment processes will ensure quick and hassle-free transactions, enhancing the overall customer experience for those making and accepting payments, according to the statement.

“Our mission is to simplify payments across the region, thereby enabling seamless and secure transactions across the Middle East and Africa,” said Hany Fekry, the CEO of enza. “This new partnership with a premier Nigerian bank further accelerates our progress towards that goal.”

Tunde Mabawonku, Wema Bank’s executive director, retail and digital business, says the innovation will empower the bank’s clientele to embrace a wider spectrum of payment alternatives, encompassing diverse payment cards, e-wallets, and more.

In his view, the streamlined and resilient payment processes will ensure the swift and hassle-free completion of transactions, thereby enriching the holistic customer experience for both payment initiators and recipients.

August 17, 2023