Raven, popularly known as “The People’s Bank of Africa,” has introduced a groundbreaking addition to its all-in-one financial ecosystem for individuals and businesses, “The Raven Payverse.” The unveiling of “BankBox,” a portable point-of-sale system, marks yet another significant stride in Raven’s commitment to transforming the landscape of financial services across Nigeria while fostering financial inclusion.

The BankBox, which is an update of Raven POS was introduced as a more efficient payment device for businesses of all sizes.

Highlighting the remarkable advantages of the innovative device, Raven’s CEO, Uchenna Nnodim, emphasised that “the BankBox offers business owners a compact payment device that fulfils all their banking needs, transforming smartphones into offline payment processors for seamless payment collections.”

Developed in-house by Raven’s dedicated team of experts, the BankBox represents a pioneering solution that revolutionises the checkout process for small and large-scale businesses and service providers. With the ability to manage multiple devices simultaneously through the accompanying plugin, the BankBox streamlines transaction management, ensuring a smooth and efficient payment process for merchants and their customers.

Discussing the extensive development process, Micheal Ibitoye, Chief Liaison Officer at Raven, underscored that the concept for the BankBox originated from exhaustive research aimed at identifying the key challenges faced by merchants during the sales and checkout process. He emphasised that the primary goal was to create a solution that not only addresses these challenges but also enhances the overall efficiency and convenience of payment processing for businesses.

Designed for Every Business

Designed for every business, the BankBox offers a much simplified payment option than traditional android POS terminals. For one, it is a much more affordable and accessible device offering significantly lower transaction costs. Registered and unregistered business owners can simply request a device by simply downloading the BankBox app from the android and iOS stores. The compact size of the BankBox also allows it to adapt seamlessly to the dynamic requirements of businesses on the move, which makes it efficient for service providers like uber drivers, logistic companies etc.

Businesses utilising the BankBox can accept transfer and card payments, with funds promptly deposited into their assigned virtual accounts, enjoying same-day settlements and providing a range of additional functions. Including its ability to connect to both iOS and android devices and multi-device functionality which enables customers to complete payments using their mobile devices.

Moreover, this compact device comes with no set targets, effectively removing financial constraints for businesses.

Revolutionising the Offline Checkout Process

With the BankBox, Raven is leading the charge in revolutionising the offline checkout process for businesses of all sizes.  Providing a more efficient pay to conduct payments on deliveries, businesses can now provide this payment option to their customers and equip their riders with the BankBox devices to complete these payments.

The Raven Payverse

The BankBox is just one of the four products within the RAVEN PAYVERSE ecosystem which cater to various aspects of the banking and financial services sector. The personal banking app facilitates the swift creation of virtual accounts, instant money transfers, bill payments, access to high-interest fixed accounts, and multiple savings plans, among other features. Raven business banking suite serves as an all-encompassing solution for businesses of all sizes, incorporating robust tools such as payroll management, invoicing, scheduled payments, expense cards, team banking, and authorisation, among others. RAVEN ATLAS, the banking-as-a-service feature, empowers other businesses to curate customised payment experiences for their customers through easy-to-integrate  API solutions.

With the introduction of the BankBox and the diverse suite of products within the Raven Payverse, Raven continues to reinforce its commitment to fostering innovation and delivering tailored financial solutions that cater to the evolving needs of businesses and individuals, further solidifying its position as a trailblazer in the Nigerian financial sector.

To learn more about the Raven Payverse, watch the unveiling:

Raven is a leading financial institution committed to transforming banking and financial services across Africa. Renowned as “The People’s Bank of Africa,” Raven is dedicated to providing innovative and inclusive financial solutions that cater to the diverse needs of individuals, businesses, and communities. With a strong emphasis on user-centric design and cutting-edge technology, Raven Bank is revolutionising how people access and manage their finances.