Ease of Transaction Settlement

Imagine a Nigeria where you could settle bills as easy as moving money from your wallet to mine.
Now imagine a world where I can use my phone QR code to scan yours and funds are moved for bill settlement without the internet - just scan and go.

A few days ago, my wife and I decided to take a stroll to the bakery. Alas, their POS was non functional due to network.
So I had to walk a distance to get cash from the ATM to settle my bill.

On our way back, we saw a brightly litt bookshop and we both decided to get the children some books to read up for the holidays. It was a very good idea. However, the young fellow did not have a POS but was smart enough to request for a bank transfer.

I did not have my security device with me and the USSD was not my thing.
Then it dropped on me - OPay.

I recall a travel visa transaction I had to personally handle and I had to move with an OPay motocycle for speed.
My staff had ordered a ride and I watched as the bike rider requested for part cash payment from my staff as he needed to settle a bill. Since she ordered the ride, she had to pay from her opay app.

What amazed me in all of this was that the bike rider moved money from his wallet to hers and she gave him the cash equivalent.

This was amazing. An E-WALLET.

Now, back to the book shop.
I advised the book seller to download the opay app so he could consummate business with this same ease.
He loved it.

As business people, we must develop ways of not missing out on transactions.
The ease of doing business must be paramount. Why do I say so?

I did not buy those books that evening, and it is two days now and I still have not bought those books. Reason is because I have been terribly busy at work.

If transaction had been smooth, the book seller would have been richer two days ago and my children would have been busier reading new books for the holidays.

This is the effect when we loose out on business deals - a lot happens outside of our control.

I do hope this write up brings ideas to some Banks, Fintech companies or code writers.
This loop hole needs to be fixed. And like Interswitch, whoever fills this gap and dominates the market with an interbank settlement e-wallet or QR code platform (devoid of the internet) will change the financial narrative and be the dominant force in Nigeria.

Till we meet again, keep winning.

Follow me on Twitter & Instagram @MrChiaka

Opium of the mind

I have seen sons torn from their mothers.
I have seen daughters separated from families.
I have seen family bound in love separate through fear.
I have seen bloopers
I have seen anarchy
I have seen wars.

It was meant for good but men in its infinity dementia turned it for evil.

Its name is religion.
In its crux is love but in its use is a weapon.

Christianity, Islam, Hindu, paganism call it whatever.

If it is used to install fear and to divide, it is evil.

Be careful who you listen to.
Even them whom you revere use it.
Know where the line is drawn and stand firm in your belief.

The mother who nurtured you in your infancy cannot be a witch in her old age.
Your father who bared his back to the sun to protect you cannot now be the source of your misfortune in your old age.

Your spouse is yours to protect.
Do not let side talks and false prophets seven you poisonous dishes.

Your destiny is yours.

Caper Diem

May the Odds be Ever in Your Favor

"

May the Odds be Ever in Your Favor" Hunger Games

So on Thursday the 7 of November, a multinational contacted me for a mission impossible. They wanted a walk-in for a Schenghen visa submission and the actual travel date was less than 1 week.

Well, nothing gets me going than a challenge. The odds were by far against me but what had I to loose?

I billed them and a cheque was issued.

I made all the calls I could, got everything ready and chilled for the new week. Alas Monday was a holiday. My odds had increased. I dusted out my cheque and contemplated returning it but what the heck? Why give up now.

Tuesday came and I had to bundle the kids into the car by 7:30 am... "Gosh where were my bloody car keys?"

This was not going fine at all?

As at Friday the week before, the house help ran away due a remuneration settlement issue with her recruiter. My house had been open since 8am on Friday. I came in and instantly knew I was in hot soup. I could not return to the office to tidy up with print work. I had been blind sighted by an unplanned eventuality.

Saturday came and I had to baby sit 3 angry birds in the middle of a group request. CRAZY... Requests were muddled up and I was at my witts end cos my best friend and business associate was upset with me due a mess up. I felt terrible.

Fast track to 7:35 am on Tuesday the car keys were in wifey's bag. She had gone to work much earlier.

DAVE deploy contingencies - NO TIME.

I ordered Uber and it took 45mins to get 1 ride.

Traffic...

I got to the office by 8:20 am and my Multinational clients needed to pick their recent statements at the bank so I coordinated office operations as I did final prints for the submission. Oga wanted madam to tag along on this trip. I didn't charge for her... Call it an investment in the future if this bid paid off.

I was done with prints by 9:20 am, rushed to the bank to arm myself with heavy entry fees. Uber was not an option. Time now was 9:45 am and traffic in Surulere area was on lock down. The villagers where at it this morning but I have killed bigger Goliaths in my time and I was stronger even now.

I got my staff to order an Oride.

That took an extra 20mins and I was going bunkers already. Time now was 9:55 am for a pre-arranged 10:00 am submission. Hmmmmm!

So off we blazed through tightly knit vehicles.

Eko bridge was at a standstill. The bike ride was a good idea till my client started calling. He was on his way to the Manor House. Gosh... !

In between my blue tooth calls, pre-packed documents and envelope loaded with goodies, there was a bump, a screech and my reflexes kicked in.

I arched back from flipping over. With all the pressure behind me I put my foot to the granite to help balance the bike... It worked but the friction had ruined my shoes. Phew... Today was the day indeed.

My Orider was furious at the bikeman that bumped into him. I tapped him - NO TIME. He understood and zoomed to Manor House.

I got there, received my entry password, made contact with my clients and we submitted. The Boss was shocked and pleased. He was treated as king and we parted ways after a 1hr 45 mins processing.

On Friday my 2:00 pm I got a text from the multinational Boss saying he was to go pick-up. Fear gripped me... This was not good I said to myself.

By 3:45 pm I got a whatsap picture

He got the visa and it took me 2 days to pull this off.

His wife insisted I come over and Oga would not hear otherwise. He requested I come with my company profile cos he needed people like me on speed dial.

I had bragging rights but my humble self assured him it is the least I could do for him and his fair lady.

I GOT THAT ACCOUNT - Yassssssssssss!

So whats the moral of the story?

Well, WHAT HAVE YOU GOT TO LOOSE IF YOU TRY.

Give it a shot.

Having said that, do something positively adventurous.

And please, share with me how this has inspired you.

Thank you,

- Dave