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Remita: Different Banks, One App


By Janet Udogu



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Bank users want results that are safe, quick, reliable, to say the least; results that are sacrificed on the altar of convenience. It is even more appeasing if they can do all their banking transactions just on one platform, with a mobile app that saves them the hassles of running from one bank to the other trying to move money or queuing endlessly in a crowded banking hall or waiting to be attended to by a customer care personnel.


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Remita, an e-Payments and e-Collections solution was carefully and specifically designed to lift this nerve wrecking burden off bank customers. Remita believes that payments should be easy. Adopted by the Central Bank of Nigeria for the payment and collections of funds on behalf of the Federal Government of Nigeria and used by all commercial banks and over 500 microfinance banks, Remita has significantly assisted to revolutionise the e-payment industry in Nigeria by helping Nigerians carry out all of their transactions just on a single platform.


Remita is developed 100 percent in Nigeria by SystemSpecs, a software house and providers of qualitative Human Capital Management and Financial Software solution, to the highest international standards and meets the needs of the local market for a secure, integrated, efficient and cost-effective solution.


The beta version of the Remita mobile application was released on Android platform March, 2017. But with the launch of its full version on Android and iPhone Operating System, iOS recently, millions of Nigerians with accounts in any commercial bank can now easily access their account balances on one screen and conveniently make and receive payments through debit or credit cards across various bank accounts nationwide on a single platform.


Speaking at the product launch, John Obaro, Managing Director, SystemSpecs, explained that the App places so much power in the hands of users by making it much easier and faster for them to manage their accounts across various banks and settle bills on the go. “It is particularly exciting that so much can be done from the comfort of their mobile device, without needing multiples of mobile Apps, token or visiting any bank branch,” he stated.


Obaro explained that micro, small and medium-sized enterprises, SMEs can easily switch between their business and personal profiles on the platform and also translate their existing physical process flows into a virtual form. As a result he said, individuals who for instance play different roles in various organisations as transaction approvers would be able to play such roles using Remita Mobile App from their mobile phone without needing to make physical appearances at work.


With Remita App, users including individuals or businesses can equally request payments from anyone by simply sharing a QR code via email, Whatsapp and other social media platforms. The payers on their part would snap the QR code from their smartphone or tap their device against the biller’s to complete transactions. This unique feature distinguishes the App from the other apps.


Remita also comes with an optional Payroll and Human Resource Solution for full integrated processing which makes it very easy to set up Direct Debit mandates or Standing Order on accounts domiciled in any bank in Nigeria to make regular payments to parents, children in school, churches, Cable TV or other subscriptions. Individuals as well as public and private sector organisations of any size, structure and complexity can therefore, automate their payroll and also deliver payslips to all staff.


Although some persons speculate that that Remita App might disrupt the banking sector as the FinTech solution has been designed to help individuals and businesses settle bills of various kinds and also manage their accounts across multiple banks, the Managing Director cleared that Remita is not a banking application but an internet and mobile payment collection platform which can only be assessed by bank account holders with registered Bank Verification Number, BVN.


Obaro however, asserted that they are not in competition but partnership with the banks. In his words: “On your mobile phone today, you have your Gmail, Office mail, Yahoo mail, Hotmail, and so on. They are all there but not necessarily competing with each other. So it is with Remita and other bank apps and to say that we are even working together with the banks to deliver this solution to their customers.


“I wouldn’t suggest that you delete your other banking apps, leaving only Remita. This is technology. Remita may fail today and you may want to make a payment so you use your bank app. Or your bank app may fail today and you use Remita.”


Remita App also comes with advanced features which are designed to protect users from fraud. The security of access and transactions on the platform has been prioritised through standard industry security measures as well as specific security layers built into the app. Such measures include personal security number, finger print authentication and One-Time Password, OTP, verification.


Speaking on the security of the app, SystemSpecs’ Lead assured that the solution is fully secure to meet the security requirements of every bank in Nigeria.


“We usually liase with the banks as regards the level of security they are comfortable with. Different banks have different processes. We have our system configured to work with the different processes. Whatever they are comfortable with is what we push,” Obaro said.


He further explained that the platform uses a dynamic authentication number which is quite different from a regular fixed four digit pin. According to him, “Remita will ask the user to define different rules which it would use to throw verification questions to the user at different times of login, so the user never gets the same questions.”


remita 1Below is a quick recap of some of the special features as explained above and provided by Remita Mobile Application, in their bid to making payments easy:


View Multi-Bank Balances

Users of Remita Mobile Application can now view multi-bank account balances and see a global total across, on one screen. This enables customers to centrally manage their accounts and monitor how they send and receive money.


Save Time And Pay All, At Once

With the multiple transfer features, individuals can now save time when making payments by saving a list of people or bills they regularly pay and the associated payments.  And with a single click pay all of them at once.


Manage Standing Orders In A Breeze

Users can easily set up instructions to start or stop recurring payments to friends, family and/or billers and let Remita Mobile take care of the rest.


Request Money in Style

Individuals and businesses can request payments from customers for services rendered, and ask for money from family and friends for various purposes, easily generate and share e-invoices with their customers and friends through emails or social media without the rigorous process of writing and delivering paper invoices.


Be In Charge Of Your Expenses

All customers’ experiences are displayed in easy-to-understand charts, flexible by period or category, enabling them to make more financially intelligent decisions.


Snap/Tap To Pay

Individuals can now respond to payment requests from restaurants, shopping malls, schools family and other billers by quickly snapping a QR code or tap their devices against theirs to complete the transaction.



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