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).”
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.
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.
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).