You call it Paypad… we say it’s the future of payment

Just when it seemed that SMW Lagos was winding down and getting ready to go back to sleep for another year, the guys at ESL (Electronic Settlement Limited), an information systems company, seeking to revolutionize the IT and payment industry, churn out a new product. They call itPaypad; I call it the future.

What future? Give me a minute and I’ll tell you. In an SMW Lagos session tagged, ‘Online Payment, the Present and Future of the African Economy, #SMWPAYMENT which took place yesterday, February 26, at Idea Hub in Yaba, Lagos, the ESL group showed how Nigeria is slowly but steadily moving towards mobile money.

In a panel session, our guests; Olaolu Awojoodu(CEO, ESL Group), Elendu Uche (App Zone) andTobi… (Business Developer, ESL Group), outlined for us the way in which we should go. Not only that, they showed us.

Remember the big, chunky, rather ugly POS machines we find ourselves stuck with in stores and eateries? Remember how sometimes they don’t work because of ‘network?’ well, now you can say ‘fare-thee-well’ to that and say ‘hello gorgeous’ to the new and sleeker Paypad model.

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Paypad, while doing much of the same jobs as the POS, has the advantage of being smaller fitting into your purse with ease. In the world of fashion, thick and curvy is in but in the techworld, slimmer is the way.

Not only is it smaller (and prettier, I might add) but Mr Olaolu (CEO of ESL Group) assured us it can also track your daily earnings and total them for you at the close of sales. All you need to pull this off, is a phone or as Mr Elendu Uche of App Zone says, ‘a very smart, smart phone.’

Interested yet? The Paypad looks a lot like our primary school calculators. The model I had the privilege of trying out was similar in color too; black and yellow, just like in the song. On one end of the Paypad is a debit card slot.

Here’s how it works; on your very smart, smartphone, download the Paypad app from playstore, register and go searching for your first buyer. After a purchase, login to your Paypad account and enter the details of the sale. Slot in the buyer’s card into the Paypad card slot and the purchase details will pop up on the little calculator-like screen. The buyer enters their pin on Paypadand your account is credited. Easy right?

It gets better. No more searching for rims of paper to print receipts. With Paypad, you can send all your receipts online. Not only should you believe me but you should go get one too. I’m not a merchant but even I want one. Started thinking of stuff to sell. Any ideas?

As we came to a close yesterday, Mr Tobi of the ESL Group reminded us that it’s not enough to discover a good product, it’s just as important to talk about it, especially on social media and that’s what I’m doing right now. If Nigeria wants to go ‘cashless,’ let’s help her. We’ve already gone coinless, how hard can one more transition be?

Do you know that we have 10million ATM cards in circulation in Nigeria. Gombe state has one ATM machine per local government.

So…what are you waiting for? To the future!

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