U.P launches An hourly e-payment solution

In their bid to make transactions easier for Small businesses, Unified Payment (electronic payment company in Nigeria) has launched an hourly e-payment solution tagged “UP Hourly Settlement Service (UP-HSS).”

U.P launches An hourly e-payment solution

Before the release of this new solution, we had a “Transaction Day + 1” solution which means merchants get paid a day after the sales transaction is made, the HSS is now an upgrade to the previous solution.

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The goal of the new solution is to enable merchants to get their monies hourly for every successful e-payment transaction they make without having to wait until the next day to get paid.

Managing Director/Chief Executive Officer, U.P, Mr. Agada Apochi while speaking on UP-HSS described it as the first of its kind in Nigeria as well as globally, adding that it was the first of its kind to be offered by a multi-bank institution.

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Another aim for creating UP-HSS was to support the Central Bank of Nigeria’s cash-less initiative to grow the adoption of electronic payments in the country and assist in increasing turn-around time for commerce in Nigeria, thereby improving the nation’s economy and its Gross Domestic Product (GDP).