At the BusinessDay top 25 most innovative companies and institutions awards 2017, SystemSpecs, the owner and operator Remita, the e-payment platform that has generated N7 trillion for the Federal Government has been adjudged as the most innovative for creating the payment platform, edging out Interswitch, Paystack and Konga Pay.
Organized by West Africa’s most authoritative business medium, Businesday newspaper, the award seeks to honour companies that have contributed to the sustainability of their customer-base, bottomline, overall organisational growth, and development of the country. Over 125 organsiation made the final list.
Addressing journalists after receiving the award, SystemSpecs’ Chief Marketing Officer, David Okeme, said that the award has shown that the company is winning on the kind of innovation the organisation is introducing into the electronic payment space.
“We see payment as an activity that is a must for everybody. Our mantra is that we are going out of our way to create innovations to simplify payment processes for Nigerians. What we have done is that we have marked about ten payment points for consumers and we are innovating around those payments points to make sure that they are delivered seamlessly”.
Publisher of Businessday, Frank Aigbogun, said the newspaper seeks to advance the philosophy and culture of innovation in our nation space, and to recognize the people and companies that are driving it.
“Today, innovation is a key driver of organic growth for all companies, regardless of sector or geography. Recognising the organization, agencies, and individuals that are driving and advancing the culture of innovation, the award brings together industry leaders across all sectors”, he said.
Special adviser to the Governor of the Central Bank of Nigeria [CBN], Emmanuel Ukeje, acknowledged that 2016 was particularly a tough year for many of the companies. He said the CBN’s response to the economic recession was supported by most of the private sector.
“In response to the recession, these companies looked for ways of going round the recession and remain profitable. We are witnesses to what happened”, he added.
Remita has been adopted by the Central Bank of Nigeria [CBN] for the payment and collections of funds on behalf of the Federal Government of Nigeria, and it is used by all commercial banks and over 400 micro finance banks. The platform has helped to revolutionalize the e-payment industry in Nigeria.
Okeme explained that SystemSpecs is wholly owned and run by Nigerian with Nigerian software engineers, meaning that the “energy we talked about is being created by Nigerians”.
According to him, “Remita is the system that is powering the Treasury Single Account [TSA] and it has helped the country to save over N7 trillion. The benefits of this innovation is that Nigeria now has full visibility of its cash asset so there is a lot more security in terms of her assets and deploy its resources better”, he said.
He maintained that Remita app combines the functions of several applications, saying that, it is an app that allows users to connect to all the banks applications with one click.
He added that with the app, user can respond to payment requests from restaurants, shopping outlets, schools, family, friends, or other billers by quickly snapping, a QR code from his smartphone or tapping his device against the biller’s to complete transactions.
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