FINTECH

How Remita Direct Debit Automate Your Income For A Flexible Payment Plan

Published

2 years ago

How Remita Direct Debit Automate Your Income For A Flexible Payment Plan

Business is a way of exchange between two or more people. This is an exchange of products and services for payment and vice versa. But one peculiar feature of the business is making profits – which could be monetary or convenience and a business loses its true essence when either of these two is amiss.

The advent and wide adoption of digitisation in business have changed the norm of physical meetings with clients, spending much time in traditional banks to transfer and receive money for products and services, and walking some miles to your customers to remind them of their debts. Today, there has been a paradigm shift towards a more convenient way of doing business without leaving the comfort of your home.

In Nigeria, business is at the front burner of the country’s economy as we have several small and medium-sized businesses that have in recent years played a pivotal role in driving the economy. However, the emergence of fintech companies in Nigeria has improved the operations of these small and medium-sized businesses, with others getting encouragement to hit the ground running.

Remita is one of the leading fintech companies in Nigeria that has brought a huge simplicity and convenience to businesses. In context, you can create a business account on Remita and start automating your finances on the platform. As a business account owner on Remita, you can achieve the following on your account:

Transfer and receive money to clients anywhere

Pay your workers’ salaries and other statutory benefits

Track your income and expenses over a given time

Automate your business

In the foregoing, it is safe to infer that Remita is in the business of helping businesses to grow financially maximising profits and minimising costs.

Furthermore, businesses function in varying ways relative to the payment schedule. While some business owners receive payments after offering products or services others do receive an upfront payment before proceeding to offer their products or services. However, the realisation of accumulating debts that have significantly crippled, and in turn shut down many businesses, birthed the idea of Remita direct debit.

What Is Remita Direct Debit?

This is a business feature on Remita that enables businesses to have control over the debt repayment plan of their customers. Remita direct debit automates the income of businesses in such a way that your customers are mandated to pay some certain percentage of their debts to your business over a given time.

This type of financial innovation from Remita would improve the quality of products or services that are offered to customers while being prompt at calling your customers to action to pay their debts as and when due.

How Does Remita Direct Debit Work?

Remita direct debit automatically acts as the middleman between businesses and their customers such that Remita provides its respective business account users with a ‘mandate’ that they (businesses) would give to the customers that request a repayment plan with them.

This mandate is to automate the deduction of the amount your customers owe your business from their bank accounts over a certain time. You as a business owner can create a mandate on Remita and give your customers the to automate a debit from their accounts until their payment has been made.

This mandate is the terms of the agreement that your customers will take to their respective banks to authorise the deduction of a certain amount from their bank accounts. Nonetheless, this can be a fixed or variable amount that would be debited from your customer’s account.

One interesting feature about this Remita direct debit is the level of flexibility and convenience it portends for your customers, such that the deduction of the debt is not burdensome to them. At the same time, businesses would be able to increase productivity and grow at the same pace as their income.

What Are The Benefits Of Activating A Remita Direct Debit Mandate For Your Business?

1. Flexible Instalment Payments By Customers

You are guaranteed to have a steady repayment of debts from your customers because the mandate would always automate a deduction that would be bearable to your customers. How this works can be likened to the operations of ‘Buy Now Pay Later’ platforms where you can buy a product and spread the payment over a certain time.

2. Track Direct Debit Activation Status

The direct debit mandate enables you to track how the repayment plan for your customer is thriving. You can easily know the level of commitment of your respective company because you can access each of your customer’s debit statuses to know how far they have come in paying their debts. Moreover, you will always get a notification upon the debit of their bank account to your Remita account.

3. Payment Automation

Everything on Remita is automated, thereby, eliminating monotonous activities that could have grave consequences on your transaction. In a similar vein, the debiting of your customers to earn you income is automatic. This means that you don’t need to go through the hassle of reminding your customer’s bank or providing your account details to your customer or the bank always. You will receive your money at ease, anywhere you are.

Conclusion

Remita is bringing convenience and growth to businesses – first with its swift payment feature to transfer and receive payments and now with its direct debit mandate that prevents customers from defaulting on payments to businesses.

The development of the Remita mandate has given businesses more confidence to start and thrive, even in the face of competitors. A business is said to be prosperous when income outclasses expenses. This can only be achieved when customers pay for the products or services offered by the business.

Your business can start enjoying the benefits of Remita direct debit mandate when you use Remita.

Create a Remita business account now to get started.

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FINTECH

Fincra Granted Payment System License in Tanzania

Published

2 weeks ago

Christopher

Fincra Granted Payment System License in Tanzania

Fincra Receives Payment System Provider License from the Bank of Tanzania, Expands Regulatory Footprint in East Africa

Fincra, a leading pan-African payment infrastructure company, has received regulatory approval from the Bank of Tanzania through its 100% controlled local entity to operate as a licensed Payment System Provider, enabling it to deliver secure, scalable, and compliant payment services across Tanzania.

Fincra Granted Payment System License in Tanzania

This approval, granted under the Payment Systems Licensing and Approval Regulations, 2015, authorises Fincra to provide payment services in Tanzania. The license represents a significant milestone in Fincra’s East African expansion strategy and underscores its commitment to working closely with regulators to build trusted financial infrastructure across the continent.

“We are thrilled to receive this license from the Bank of Tanzania. It reflects our long-standing commitment to regulatory integrity and positions us to deliver even more value to businesses in East Africa,” said Wole Ayodele, CEO at Fincra. “This is a key part of our mission to build the rails for an integrated Africa”

The license allows Fincra to offer its suite of payment products and services to businesses operating in Tanzania, including local collections, business payouts, and API-based infrastructure for real-time payments, all while maintaining full compliance with the regulatory framework set by the Bank.

Fincra’s entry into Tanzania is strategically aligned with the country’s growing digital economy and its push for financial inclusion. Businesses in sectors such as fintech, logistics, travel, retail, and remittance will now be able to leverage Fincra’s infrastructure to scale faster, move money more efficiently, and expand across borders.

This development follows Fincra’s earlier regulatory approval in South Africa as a Third Party Payments Provider (TPPP) and cements the company’s position as one of the few African fintechs actively building a multi-market regulatory foundation to support a truly pan-African financial ecosystem.

About Fincra
Fincra is building the trusted financial infrastructure for businesses in Africa to move money locally and globally. Through a suite of APIs and no-code solutions, Fincra enables secure collections, payouts, and settlements across borders, with full regulatory backing in every market it operates.

Create a Fincra account in 3 minutes here.

FINTECH

Fincra Secures South African TPPP License

Published

2 weeks ago

Christopher

Fincra Secures South African TPPP License

Fincra, a leading provider of payment infrastructure for local and cross-border payments in Africa, is proud to announce receipt of another Third Party Payments Provider (TPPP) in South Africa.

Under this license, Fincra is now authorised to process the following types of payments:

Credit Card
Debit Card
EFT (Electronic Funds Transfer) Credit
Real-Time Clearing (RTC)
Rapid Payments

The license reinforces Fincra’s ability to facilitate seamless, secure, and compliant financial transactions for businesses operating within and across South Africa.

Fincra Secures South African TPPP License

This development marks a pivotal advancement in Fincra’s mission to build the rails for an integrated Africa by creating the infrastructure to simplify how African businesses pay and get paid globally.

“Securing the TPPP license in South Africa is a significant step toward realising our mission to build the rails for an integrated Africa. It reinforces our commitment to building compliant, reliable infrastructure that powers cross-border trade at scale. We’re excited about the opportunities this opens for businesses across the continent.”

— Ayowole Ayodele, CEO and Co-founder, Fincra.

Fincra’s new capabilities enable businesses across Africa and beyond to integrate directly with South Africa’s core payment systems and banks, offering faster settlement, greater reliability, and compliance with the country’s stringent financial regulations.

IFincra is now better positioned to support a broader range of merchants in industries such as e-commerce, logistics, B2B marketplaces, travel, and more.

“This license strengthens our ability to serve our merchants with faster, more secure, and locally compliant payment options in South Africa. It’s a game-changer for businesses looking to expand or operate in the region, and a strong signal of Fincra’s continued focus on enabling growth for our customers.”

— Emmanuel Babalola, CCGO, Fincra.

For Fincra, this is not just a regulatory achievement, it’s a signal of what’s next for the African payments space.

As Fincra expands across the continent, its growing regulatory footprint and partnerships with Tier-1 banks provide the foundation for scale and innovation.

About Fincra
Fincra is a leading payment infrastructure provider enabling seamless cross-border transactions across Africa.

Fincra empowers businesses, fintechs, and financial institutions to collect payments globally and make payouts locally, all through one powerful API or platform. With Fincra, launching remittance products, automating payroll, and expanding into new African markets becomes effortless. Fincra is building the financial rails that power trade, innovation, and scale across the continent.

Create a free account in 3 minutes at fincra.com

Connect with Fincra on LinkedIn , X(Twitter) Instagram, and Facebook.

BANKING

Network International appointed as Payment Processing Partner by MTN Group Fintech

Published

4 months ago

Christopher

Network International appointed as Payment Processing Partner by MTN Group Fintech

Network International (Network) (www.Network.ae), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider. This partnership marks a significant extension of Network’s portfolio of issuer processing collaborations throughout the African continent.

Network International appointed as Payment Processing Partner by MTN Group Fintech

With a footprint spanning over 50 countries and serving over 250 financial institutions, Network International brings its expertise to this partnership which will enhance MTN Fintech’s cutting-edge mobile services and provide even greater value to stakeholders and customers across Africa.

The partnership will focus on rolling out card issuance products across key MTN Fintech markets, starting with Rwanda which is already operational. Soon Uganda, Ivory Coast, and Nigeria will also be covered under this collaboration. Network International will provide a comprehensive range of services, including transaction processing, card management and online fraud prevention. MTN Fintech users will benefit from a seamless experience accessing both traditional mobile services and innovative digital payment solutions.

Dr. Reda Helal, Group Managing Director – Processing, Africa and Co-Head Group Processing at Network International commented: “Our collaboration with MTN Group Fintech marks a major milestone for our outsourced payments services in Africa. It demonstrates our ability to successfully serve Mobile Network Operators (MNOs) via our fully-fledged processing solutions and our continued dedication and commitment to the African region. We are excited to support MTN Group Fintech’s growth strategy, and its business development plans across the continent.”

Cedric N’guessan, Executive for Payment and E-commerce at MTN Group Fintech added, “This collaboration with Network International is pivotal in enhancing financial inclusion across Africa and beyond. It enables our customers to actively engage in the global economy, aligning perfectly with our strategic goals alongside Mastercard to broaden access to digital financial services across the continent.” Read More (https://apo-opa.co/43aKuII)

MTN Group provides voice, data, fintech, enterprise wholesale and API services to more than 288 million customers in 14 African markets.

Distributed by APO Group on behalf of Network International.

About MTN Group Fintech:
MTN Fintech, the platform business of MTN Group, is dedicated to revolutionising global financial services through innovative digital technology solutions. Leveraging MTN’s extensive reach and expertise in telecommunications, MTN Fintech is committed to advancing financial inclusion for all and empowering communities in Africa. With a primary focus on pioneering mobile financial services, digital payments, e-commerce, short-term insurance, and remittance capabilities, MTN Fintech strives to establish seamless, accessible, and secure financial ecosystems that shape the future of digital finance.

About Network International:
Network International is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,000+ employees based in our markets serving over 250 financial institutions and 130,000+ merchants.