SystemSpecs Limited, the Nigerian FinTech firm providing Remita, the gateway solution for the Treasury Single Account has said that quality delivery of e-payment infrastructure fast-tracked the Treasury Single Account, implementation.
In a statement, the Divisional Head, Payment Gateway and Infrastructure for SystemSpecs Limited, Mr Demola Igbalajobi, said this while describing how deployment of its electronic gateway enabled the TSA, while making a presentation to a Gambian delegation led by the Permanent Secretary, Ministry of Finance and Economic Affairs, Ada Gaye, in Abuja on Wednesday.
He said a payment gateway facilitated a payment transaction by the transfer of information between a payment portal (such as a website, mobile phone or interactive voice response service) and the front-end processor.
According to Igbalajobi, following a review of options, Remita was adopted as the Payment Gateway for the Federal Government’s TSA in October 2011 and commenced operations in January 2012.
Speaking on the role of a secured and efficient gateway for the TSA, Igbalajobi, said the electronic gateway bridged the government system (TSA) with the commercial banks, so that people could pay the government electronically and from different locations.
He said it also provided payers with multiple channels to make payment to the government and made the TSA available for round the clock transactions.
One of the benefits mentioned by Igbalajobi was that it had enabled the government and its Ministries, Departments and Agencies to access their bank statements independently as all accounts were now domiciled with the Central Bank of Nigeria.