Cash-less: Upperlink develops solution for faster electronic disbursement
May 7, 2012 by Dayo Oketola
Upperlink Limited, an incorpoaretd software development firm with specialisation in Internet applications and database management, has developed PayChoice, a solution aimed at engineering fast and unambiguous electronic disbursement and collection of cash.
The Managing Director and Chief Executive Officer, Upperlink, Mr. Segun Akano, during the presentation of the payment solution to Lagos City Polytechnic in Lagos, on Friday, said the solution was developed to boost the cash-less scheme.
He described PayChoice as an enterprise suite of payments and collections solution specifically built to address challenges experienced by large corporate organisations, small and medium enterprises, educational institutions and other business entities to process outward and inward payments.
Akano added that the solution was designed to address payment disbursement apprehensions being expressed by individuals, organisations and educational institutions in the cash-less era.
According to him, the solution saves time, reduces administrative costs and ensures immediate credit of fund.
He said, “This payment solution came at a time most Nigerians, especially corporate organisations and schools, need such a payment solution in order to overcome teething e-Payment challenges, as it complements the CBN’s directive on cash-less economy while aiding organisational efficiencies”
He explained that PayChoice was an upgrade of BranchCollect, a solution earlier developed by the company.
Unlike BranchCollect, which was developed for cash collections at bank branches, Akano said PayChoice had been integrated to work with Interswitch Quickteller and on all channels such as Automated Teller Machines, Point of Sale and the web.
The whole essence, according to him, is to make e-Payment channels more convenient for use.
Akano said though the company started as an online portal solutions provider in 2005, it had shifted its focus to payment automation in line with the CBN cash-less initiative.
The Upperlink boss recalled that the company developed a portal solution for Lagos City Polytechnic in 2005 but it had since expanded its operations.
According to him, it is currently working with 14 banks and 13 higher institutions in the country.
He disclosed that Lagos City Polytechnic was the first organisation to deploy the solution in the country; adding that with it the school could now track payments made by students and other details required by the school for proper documentation.
According to the Upperlink boss, the solution is customised to meet the’ specific needs of organisations and it interfaces with all Nigerian banks through available switches.