For years, Nigeria’s rush towards cash-less economy was greeted with mixed feelings of approval and rejection. But the coronavirus pandemic has made the use of alternative banking channels inevitable, writes COLLINS NWEZE.
The week of economic resumption after the five-week lockdown in Lagos was an eyesore for many bank customers. Even banks that have for decades bragged about their quality customer services were overwhelmed with the problem.
There were huge crowds in many of their branches, which at first, the banks were unable to explain.
But later on, it turned out that many of the customers were those that never took e-payment channels like Automated Teller Machines (ATM), Point of Sale (PoS), e-wallets, internet banking, among others, seriously.
Obviously, cash-less banking has faced several criticisms since its debut eight years ago mainly because of poor quality of service, double debits, excess cashiers to loss of funds to fraudsters, with e-payment users having sad stories to tell.
But the coronavirus (COVID-19) pandemic, which has caused over 200 death in Nigeria and infected over 7,839 people, has provided opportunity for those that abandoned cash-less banking to return.
Hence, the industry has witnessed widespread use of the e-payment channels -ATMs, PoS’ terminals, web payment, online transfers and even mobile phones for transactions. These channels are the easiest way to transact without physical contact, which is the fastest route to spread the virus.
But there are still those that have refused to embrace the platforms and had to bore the inconveniences that followed during and after the lockdown.
For instance, many commercial banks, which opened after the lockdown adopted new strategies to reduce the large crowds at their branches, which were opened in phases. Many banks had sent messages to their customers, informing them about the branches that would be in operation, daily after the lockdown was relaxed.
In many of the banks’ branches, canopies and chairs were set up outside the bank’s premises for customers to sit while waiting to be attended to. In many others, the customers who were impatient ran riot, some threatening to close their accounts, if they were not allowed into the banking hall.
At GTBank, FirstBank, Access Bank, Union Bank, and Keystone Bank, among others, there were large customer presence in the branches, which the banks said they were addressing.In emailed notice to its customers, GTBank said it would for now, be alternating the opening of its branches weekly. It said customers would be told the […]
