The training which held in Lagos, a city involved in the pilot phase of the cashless economy policy, focused on how financial institution can build effective business relationships with retailers, the vast majority of whom have always operated on a purely cash basis.
According the a statement, the workshop was attended by representatives of GTBank, Zenith Bank, First Bank, United Bank for Africa, Skye Bank, Keystone Bank, Intercontinental Bank (now Access Bank) Stanbic IBTC Bank, Citibank, Union Bank, Wema Bank, Ecobank, Unity Bank and Enterprise Bank. The statement also noted that participants at the event welcomed the training initiative by MasterCard, noting that its content would be extremely valuable in the roll-out of the cashless Lagos project. The participants also welcomed the plans by MasterCard to roll-out the other banks and financial institutions across the country.
He also added “By holding these training workshops, MasterCard is working closely with its customer financial institutions to ensure that best-practice principles are implemented by all stakeholders across the payments network in Nigeria.
Cashless Nigeria is going to make everyday transactions easier for Nigerians, and it is going to remove the risk of cash-related crimes. It will also offer faster access to capital for entrepreneurs and companies wanting to grow, and in the long term it will facilitate increased economic development for the country through broader financial inclusion.