EazyPay Nigeria is an online electronic payment portal that allows subscribers who holds a Nigerian debit card on either the Interswitch or Etranzact platform to make payment for goods and services on the internet.

EazyPay allows consumers to pay many kinds of merchants.

How does EazyPay work?

EazyPay provides the link between the merchant (e.g. NITEL, NEPA) and the payment collector (designated outlets), which ensures that the issuer receives the payment made by the consumer within 24 hours. A full accounting, reconciliation and reporting service is included in this process. Settlement through the Nigerian Interbank Settlement Scheme (NIBBS) and InterSwitch Payment Network is another option made available by the EazyPay link. The consumer is given a receipt as proof of payment and receivers have all transaction records delivered to them electronically within
48 hours. All money due is paid electronically, also within 48 hours.

To pay an account using EazyPay the consumer needs the EazyPay number that appears on the bill presentment document of his account. This number could either be the consumer’s NITEL service account number, Meter account number (for NEPA), DSTV decoder number (Multichoice) or some other number as defined by the merchant. For more information, see what is a EazyPay Number?

EazyPay can also be used to purchase prepaid Airtime and electricity. This is being planned with the National Electric Power Authority as a pilot scheme for her select customers.

What is a EazyPay number?

A EazyPay number is a number that a Receiver (such as Water-board NITEL, NEPA) prints on the consumers account to allow payment against the account via the EazyPay system.

§ The Internet on www.eazypaynigeria.com (card payments).
§ Mobil, Unipetrol and other gas petrol stations across the country
§ Selected stores and supermarkets such as MEGA Plaza, Park ‘n’ Shop

What Accounts can be paid?

With EazyPay, account settlement is quick, easy and hassle free with the Internet and “one-stop -payment-shops” located countrywide. All accounts reflecting ***** (asterisk signs) in front of the account number at the bottom or right top corner of the account, are payable through EazyPay.

EazyPay accepts a variety of accounts including:

Council and state rates, water and electricity
Water-board
NITEL
NEPA
MultiChoice
MTN
Econet
Globalcom
Selected Traffic Departments* (e.g. LATSMA)

… and a host of others. The types of accounts consumers can pay grow on an ongoing basis. All money due is paid electronically within 48 hours.

What are the benefits of EazyPay to Consumers, Collectors and receivers?

The benefits of EazyPay are numerous to all parties involved in the account settlement process.

They include:

Consumers

Fast and efficient update/reconciliation of accounts upon payment
Convenience! Pay points are widely available and easily accessible for the payment of monthly accounts. This is offered at no additional infrastructure or staff cost.
Saves time and money that would otherwise be spent traveling to traditional pay points such as cash offices.
Extended business hours offered by the collector accepting EazyPay payments and purchases.
Additional methods of payment are offered at a variety of pay points – debit and credit cards. Many consumers who normally pay by cash and cheque will now pay through EazyPay.
Consumers are offered a more convenient and safer environment for the payment of their accounts. This encourages people to pay their accounts who would have been problematic payers due to the constraints of banking hours and locations.

Receivers
The receiver (e.g. Water-board, NITEL, NEPA) benefits from efficient revenue collection and enhances the service offering to the consumer.
The large number of pay points improves consumer service levels and ensures that payment and prepaid services are more widely accepted.
Reduces consumer resistance to account payment by offering different modes of payment such as debit and credit card.
A centralised architecture and the latest technologies ensure easy maintenance and support, full redundancy and disaster recovery capability.
Vending systems can be fully integrated onto receipting applications, ensuring full financial integration and no duplication of hardware.
Reduces ‘peaks’ at traditional pay points.
Offers additional payment facilities without incurring additional infrastructure or staff costs.
Reduces cheque bottlenecks and minimises cheque loss.
The receiver’s bank account is credited within 24 - 48 hours of a payment being made by the consumer. Typical time delays incurred with traditional “cheque in the post” payment can be as much as 5 to 10 days before a cheque is received for processing.
Efficient revenue collection improves cash flow. This could yield greater interest earning opportunities.
Revenue is based on commission per transaction. No service cost is passed to the consumer.
A single summary of all payments received countrywide is provided each morning in convenient electronic format. This summary file can be interfaced to your billing system to ensure prompt allocation of payments.
The EazyPay numbering system has been designed to minimize the opportunity for data capture error at the pay point. This significantly reduces the risk of unallocated payments.
In the case of prepaid electricity, support is provided for arrears recovery, stepped tariffs, poverty tariffs etc.

Collectors
The collector (e.g. supermarket) benefits from increased traffic through the store as well as earnings from a fee earned for taking payment in-store.
No capital costs are incurred as extensive use is made of existing infrastructure.
Improved levels of consumer service, retention and loyalty.
Services attract new consumers to the store – perhaps those that would never usually shop at the outlet, but does so when paying accounts or purchasing prepaid services, usually done at traditional or alternative pay points.
Services enhance the outlet’s image in the community and generate additional revenue.
A fee is paid to the collector for taking a EazyPay account payment or vending a prepaid service at point-of-sale.

EazyPay Prepaid

In addition to account payments, consumers can also purchase prepaid services such as electricity, cellular airtime and other telcos Prepaid. This service is part of EazyPay’s services offering and will be extended to all existing collection points.

The EazyPay Costing Structure

The collector receives a flat fee per transaction for taking a EazyPay account payment at the checkout or kiosk and a percentage commission on any prepaid service vended.

The receiver (e.g. Water-board, NEPA) pays a fee for each EazyPay account payment made at the collector.
A fee is also paid for any prepaid service vended. Cash handling, debit and credit card commission charges are passed on to the receiver at the collecting merchant’s rate.

All transaction fees and commissions are settled daily through NIBBS and InterSwitch payment network and a full report is provided to the receiver on a monthly basis. Cheque payments returned ‘RD’ by the bank to the collector are returned to the receiver.

HARDWARE PLATFORMS

EazyPay’s flexibility allows it to integrate into the hardware platforms of large retail groups as well as smaller stores and franchises.
Integration platforms include:
• Collector point-of-sale terminals
• Dedicated platforms
• Stand-alone PCs
• EFT Terminals
• Self-service terminals
• Kiosks
• Internet


What is EazyPay Scheme for eCommerce Providers?

The EP scheme, your payment provider, makes available to receivers and card-carrying users, the platform for eCommerce in the Nigerian economy.
The model is designed to help your business achieve its goals on the Internet and physical outlets. It also aimed at reducing administrative overheads, improve customer service and to enable your customers make purchases via your point of sale channels (website and physical outlets).
Users make purchases on receivers' sites with bank-cards issued by any of the banks in the Interswitch consortium. These activities are recorded as transactions on the network for immediate value (e.g. funds purchase transactions). Within few minutes of payments, values from these transactions are swept into your receiver account. Your receiver account provides views of all transaction activities on your site as well as the history of old transactions on your account.

1) On the Internet, all that is required to get your business running on our payment channel is a customizable payment link for uniquely routing your payments to the bank.
You don’t need a to get a web/application developer for this to be implemented.

2) At your physical outlet, we will provide POS terminals that will be used for receiving payments electronically from your card-carrying customers.

As soon as you are registered, your account details are configured to receive payments. You are also given an Internet banking card for monitoring transactions remotely at your location.

Benefits of EazyPay Receiver Scheme

When you become a EazyPay Receiver, you get the following for FREE:

EazyPay receiver bank card for monitoring payments via our Internet Banking facility.
Weekly/Monthly activity report of transactions accruing to your account
POS terminals at your outlets to provide a complete solution at your physical locations.

How do I get my money?

As payments are being made, transaction values are directly swept into your receiver account (either supplied or created during your registration).
You can view the history of payments due and made to your receiver account from our Internet banking interface.

How Much It Costs?

Cost of transactions
Each transaction that is carried out on your site costs N2 plus 0.5% of the amount involved. For example, for a purchase that is worth N1000 on a receiver's site, the cost would be just N7 (N2 + 0.5% of N1000).
For physical outlets, the receiver will shoulder the cost of POS terminals and implementation. Transaction fees as discussed above will also charged for payments on these terminals.

Service costs
When your registration form to become a receiver is processed and approved, you pay a one-time charge of N10, 000 to cover our business verification costs. Subsequently you are required to pay an annual fee of N5, 000 as service charge.

Zenith Bank Plc -Leading the way with trusted and secure transactions in Nigeria

The EazyPay brand is the property of Zenith Bank Plc.
As a leader in the field of secure electronic transactions, Zenith bank has more than a decade’s real world experience in financial transactions, excellent service delivery, security and payment technologies. We are uniquely positioned to enable end-to-end trusted transaction solutions over physical, virtual and wireless networks.

We are partners to some of the world’s most innovative security and payment players and our customer base comprises those organisations that recognize the true value of secure electronic payment systems within their operating arena.

Zenith bank has the transaction solution ideally suited to meet your specific needs.

For more information contact e-Business, Zenith Bank Plc:

Tel: +234 (0)1 4618343, 2708142. Fax: +234 (0)1 461 8465

E-mail: ZenithEazyPay@zenithbank.com