Home Business News NSE launches X-Pay platform to enhance cashless trading

NSE launches X-Pay platform to enhance cashless trading


The Nigerian Stock Exchange (NSE) has launched an e-Payment platform, X-Pay, which enables users to conveniently make payments for products, services, events and trainings offered by the bourse.

The platform can be accessed on PCs, tablets, smartphones and accepts VISA, MasterCard Verve and UnionPay credit and debit cards.. It features invoice payments, intuitive products display, dynamic search functionality.

X-Pay is developed to deliver a faster and safer payment method which is protected by best in class IT and card security features, in line with global best practices.

Speaking on the innovation, Head Shared Services Division, NSE, Mr. Bola Adeeko, said: “We are thrilled to launch X-Pay, a solution that builds on our customer centric focus and our efforts to transform the Nigerian capital market into a more efficient model.

“X-Pay reinstates our commitment to move towards cashless transactions and build a sustainable cashless ecosystem, while satisfying users’ preferences for self-serve bill payment options that is convenient and secure”, Adeeko added

According to him, NSE is leveraging the power of innovation and digital technology to improve its efficiency and reduce the cost of transactions.

“With X-Pay, our stakeholders will now enjoy easy access to a wider catalog of our products and services, be able to select and purchase from anywhere, at any time.

“Not only will X-Pay be convenient, it will also provide huge opportunity for NSE to maximize its capacity and realize increased efficiency through automated processes and better data integration”, Adeeko assured.

The NSE has continued to adopt innovative strategies in its digitization drives as a desirable option of transforming into a world class bourse.

For instance, the NSE launched X-GEN, the fastest trading platform in Africa with low latency capabilities, in 2013 even as it also implemented TradeSmart to assist its Dealing Member firms in achieving a broader reach, leveraging mobile phone penetration in the country

Also, the bourse has also deepened its regulatory capabilities and facilitated the achievement of better compliance and monitoring by both issuers and operators by implementing platforms such as X-ISSUER and X-BOSS.

Other initiatives undertaken by the Exchange include, the launching of the X-Smart which enhances the level of surveillance technology into the market, and the Data Centre which was launched last year.