The organisers of Lagos Fintech Week has released agenda for the main theme of the 2020 trade show-Setting Agenda for Cashless Lagos.
Lagos Fintech week is scheduled to take place between April 14-17 at the Tech Zone, Gbagada, Lagos.
Dr Yele Okeremi, the Chairman Organising Committee of the Week promises that participants at this year’s event would enjoy a 4-in-1 conference experience. “Apart from the central theme, Setting Agenda for Cashless Lagos, we will serve you Big Data Master Class, FemTech in Fintech Forum and Ghana-Nigeria Fintech Forum.
According to him, two days have being earmarked for thought leaders in public and financial services sectors to set agenda for cashless Lagos. “With over 12 million smart phones, and estimated 5 million commuters every day, highest number of instant payment transactions daily, over 7 million BVN enrolees, Lagos city is ripe for cashless status,” he declared.
Okeremi disclosed that 68 speakers would address the global audience on the Week central theme comprising of 4 keynote speakers, 16 paper presentations and 8 panels.
Cashless Tap & Go payments option for BRT buses in Lagos, an overdue course of action.
Exploring a cashless fares collection option for Lagos unscheduled para-transit bus services in the context of ongoing public transport reform in the state
Cashless Transport System Panel
As in many developing cities in Africa, Lagos’ unscheduled para-transit services dominate urban public transport. Despite the resulting scale of fare revenue, the majority of the state’s yellow minibuses operate as cash-only businesses.
The drivers of these minibuses typically keep the balance of fare revenue after vehicle rental and fuel consumption payments, while owners seldom include vehicle depreciation as a daily operating expense. There are a number of common consequences.
These drivers behave recklessly as they seek to achieve as many peak period trips as possible to maximise income. Capital reserves or affordable finance are unavailable to renew vehicle fleets. It is difficult for business owners to make operating decisions based on an income-expenditure ledger and principles of profit and loss.
The panel will:
Explore the possibilities of introducing cashless fare payments for yellow buses in Lagos.
Address the role of the all-powerful transport union in the cashless scheme.
Formalizing Lagos huge informal sector with cashless payment solutions
Driving mobile and card payments acceptance amongst informal retailers in Lagos state
Leveraging behavioural science to design digital payment solution for informal businesses in Lagos
The Informal Cashless Panel
Recently, we have witnessed the enormous potential of digital technology to catalyse financial inclusion. By giving unbanked populace access to financial services via mobile phones or the internet, technology is creating a brighter future for millions around the world.
Digital financial services may also help to break down one of the remaining impediment to full financial inclusion: the informal nature of many businesses
in the world. Although financial inclusion is particularly beneficial to entrepreneurs, the majority of micro, small, and medium-sized enterprises (MSMEs) do not participate in the formal financial system.
Business-owners are often sceptical that the costs of formality, including paying taxes and abiding by regulations, outweighed by the benefits.
The panel will discuss how the Lagos State government can formalise its huge informal sector with cashless system.
Cashless gaming: setting agenda for a new era of how “to-pay-to-play” lotteries in Lagos State.
How Artificial Intelligence (AI) can drive cashless gaming in Lagos State.
Cashless Gaming Panel
Cashless gaming, artificial intelligence and facial recognition technology will reshape gaming business globally but the regulation will remain a key hurdle for years to come.
This panel will explore how Lagos State can use regulation to drive gaming innovations and cashless gaming in the state.
Preparing law enforcement agents for the emerging cashless crimes
Are there unfriendly relationship between cashless system and street crime?
Cashless Crime Panel
Bribery, tax evasion, money laundering and counterfeiting, corruption, even the terrorism financing, these are among a long list of crimes enabled by the use of “cash.” The attempt to crack down on these crimes is driving governments and a range of companies to pursue the potential of a cashless society.
The panel will explore how Lagos State can leverage cashless system to fight crimes in the state.
How 5G technology will enable the attainment of cashless Lagos dream
How to build robust digital infrastructure for cashless Lagos
Cashless Infrastructure Panel
Cashless economy requires a simple and robust infrastructure as well as strong incentives.
The panel will explore how to build and leverage a robust technology infrastructure for Cashless Lagos. Simple infrastructures with strong incentives for usage have demonstrated that the developing economies, which had little, can leapfrog those with a great deal.
How digitization of tolls can stop leakages and drive-up IGR for Lagos State government.
Enhancing parking experiences, improving operational processes and lowering costs with cashless parking solutions by local government authorities in Lagos State
Cashless Parking and Tolls Panel
Cashless adoption rates for parking and toll in most mega cities globally is 60% average.
The panel will discuss how Lagos State will emulate its peers across the world in implementing the cutting edge solutions for cashless parking and toll.
How cashless Lagos can push micro-insurance to the mainstream
Auto insurance and the introduction of cashless garages in Lagos
Cashless Insurance Panel
Cashless garages are facility to get vehicle repaired at a garage without paying the entire bill. Offered by insurance carriers, this facility can be availed by vehicle owners in case of mishap, provided the garage features in insurance carrier list of cashless garage network.
The panel will discuss the need for insurance carriers in Lagos State to adopt this system.
How cashless payment can hinder tax evasion and drive-up IGR in Lagos State
How cash payment fosters VAT evasion in developing economies
Cashless Taxation Panel
Findings have shown that cashless payment hinders tax evasion because it leaves transaction trail that can be tracked.
The panel will explore how Lagos State and the local governments can leverage the cashless system for the collections of taxes and levies.
The Nigerian FinTech Awards 2020 are open for entries. Click to start your online entry here: https://bit.ly/37ulpYS