Nsano Staff in Focus: Up Close with Stephanie Owusu Agyeman

This month’s spotlight is on our Country Manager for Zambia, Stephanie Owusu Agyeman. Stephanie oversees all operations in Zambia, develops business, manages and maintains relationships with clients. Her expertise lies in Product Development, Product management and Business Development. She has in times past been a major part of Nsano’s product development team. For the past two years, her key role has been ensuring that product development activities align with Nsano’s overall business goals.

Q: What was your work life prior to joining Nsano?

A: Before Nsano, I worked in insurance. I worked with the procurement unit and it was really interesting how such a small unit with just three people was the nerve and centre of the entire operations.

Q: How did you first learn about Nsano?

A: From a friend. I needed a place for national service and Nsano was highly recommended.

Q: How do you balance your work and personal life?

A: I hang out with friends on weekends after a busy working week.

Q: How has Nsano helped you in your career development?

A: Nsano is a place of learning. I have not just improved in my field, but I’ve had the opportunity to work with other units and even understudy them. That’s something I am truly grateful for.

Q: What has been your favourite project at Nsano?

A: Building a voting application for a reality show.

Q: What is your proudest moment at Nsano?

A: When I graduated from the management training program.

Q: What are three career lessons you’ve learned thus far?

A: 1. Never stop learning. 2. Be valuable. 3. Be patient.

Q: What is your least favorite food?

A: Unripe plantain with anything.

Q: What is your motto or personal mantra?

A: Once my mind is set, I can achieve everything. Nothing is too difficult to attain.

Q: Tell us one interesting thing about you? 

A: I’ve watched the TV show ‘Friends’ over ten times. I think it is one of the most amazing shows on TV.

Q: What is the first thing you would buy if you won the lottery?

A: I will buy my mum a house.

Q: What is your favorite part of working at Nsano?

A: The people. Everyone is super nice and easy to work with.

Nsano Staff in Focus: Up Close with Kwabena Kyei

In this month’s Staff in Focus, we get to interact with Kwabena Kyei, our Finance Manager for Ghana. He plays a key role in managing our revenue, ensuring that payment transactions are accurately posted and reconciled in Nsano.

He is a chartered Accountant, Financial and Investment Analyst and Treasurer with Masters in Funds and Portfolio Management. His experience has shaped the impactful work he has been doing at Nsano for the past two years.

Let’s learn more about his life and some fun facts about him.

Q: Mention three adjectives that your close friends will use to describe you?

A: Most definitely Trustworthy, Optimistic and Attentive

Q: How do you prefer to start your day?

A: With a prayer, followed by my quiet time. It just works for me.

Q: What does your current role entail?

A: In simple terms, I would say managing the finance operations of Nsano Ghana. However, I have a few tasks and roles for the Group. I also have oversight responsibilities on treasury and finance management of our remittance business.

Q: What is a work-related accomplishment that you’re proud of?

A: I feel proud to be part of the remittance team helping to get more clients and revenue. Again, I always feel happy when I have been able to use strategy to get clients pay what is due us.

Q: Name a role model who has inspired you in your career

A: That has to be my grandfather who passed weeks ago. He was a teacher and banker. I am yet to meet a more industrious person.

Q: What led you to work in this field?

A: I just love working with figures and making decisions based on the numbers. I have been a numbers person ever since I can remember so this is no chance or luck. I am where I ought to be.

Q: Describe a favorite work memory

A: I worked on an investment proposal for a business I was involved in. The late nights, long hours, effort, and stakeholder engagements were nothing I had experienced before. Today, I look back and feel proud of the work I put in and the results before me. Whenever I remember that project, I just smile.

Q: What is your favorite sport (to watch) and which team do you support?

A: Soccer. Kumasi Asante Kotoko.

Q: What did you want to be when you were younger?

A: I wanted to be a banker. Back then, I would say a bank manager.

Q: Tell us about a book you are currently reading

A: When Genius Failed by Roger Lowenstein.

Q: What are you most likely to be doing on weekends?

A: Most weekends, I am out of Accra to see my family.

Q: If you could have only three apps on your phone, which would you pick?

A: Twitter, Methodist Hymn, Youtube.

Q: Do you have a hidden talent? What is it?

A: Athletics. I can run. Take it from me, my sprint game is 100.

Q: What’s one thing you love about working at Nsano?

A: Nsano is always evolving and it excites me because as a person, I really do not enjoy doing the same thing over and over again, so this place is such a perfect fit for me.

Join us monthly for spotlight on Nsano’s people. Follow us on all our social media handles for exciting updates. 

Nsano Staff in Focus: Up Close with Godson Quaye

This month’s spotlight is on Godson Quaye, our ‘Senior Analytics Guy’. When it comes to the implementation and support of business information systems across the various departments within Nsano, Godson is our ‘go-to guy’.

As our Head of Enterprise and Business Reporting, Godson is in charge of high value partner relationship management, business performance and analytics as well as supporting Nsano’s operational excellence in the fintech space.

Get to know more about his life, work and some fun facts.

Q: How would you describe yourself?

A: Confident, jovial and curious

Q: What is your personal mantra? 

A: Don’t stop when you’re tired; stop when it’s done!

Q: What does your current job entail?

A: I’m currently involved with business development for financial institutions, customer success for all our customers and business performance management. It’s a great combination of everything I’m passionate about, professionally, and personally – preempting problems as much as possible and solving them in the most restorative, reassuring ways available.

Q: What runs through your mind at the start of each working week?

A: What opportunities can I take advantage of and how can I help others do same? Others here, I mean anyone who is actually willing and committed to doing better themselves.

Q: If you could master one highly valued skill, what would it be?

A: It’s not a single skill, honestly. But I’ll limit it to wisdom (if that’s a skill). Proverbs 15:24 says “the path of life leads upward for the wise to keep him from going down to the grave”. Wisdom improves how we relate with others, how we solve problems and can help me to add credible sustainable value.

Q: What do you love most about the industry you work in?

A: Fintech affects everyone of us and so opportunities are never out of reach. It however means that dedicating a large chunk of effort and time to creating solutions that cut it for the customer and even exceeds their expectations. That’s what keeps us competitive.

Q: What are some similarities you have noticed across African fintech operations?

A: Fintech is about the single fastest growing phenomenon in Africa today and fintech startups are increasingly attracting funding to scale. You will also notice that attempts are being made to explore other areas of finance than just payments. Areas like digital lending (micro credit, asset financing, etc.), digital wealth management (that is savings and investments) and blockchain are emerging strongly. Open banking and open finance are areas that need attention because mobile money provides unique opportunities to deepen financial inclusion much further than is currently the case.

Q: How do you handle pressure?

A: After a long day or week, I love to indulge in my playing the piano. I love to read, listen to an audiobook or a podcast on my walks too.

Q: If you could have another career, what would it be?

A: I’d be a professional musician or choir director.

Q:  What’s a fun fact about you many people may not know?

A: I make scrumptious, finger-licking chocolate cakes.

Q: What do you love most about working at Nsano

A: Nsano is full of ambitious millennials. The energy and passion for innovation always gives me a kick, and I love engaging our customers too.

Join us monthly for spotlight on Nsano’s people. Follow us on all our social media handles for exciting updates. 

Nsano Staff in Focus: Up Close with Akosua Amoakowah Yeboah

If there’s one thing Nsano believes in as far as our product development is concerned, it is to find the right products for our customers and not customers for our products.  We believe in continuously looking for financial technology solutions to the evolving needs of our customers. Akosua Yeboah who heads the products team leads the design, creation, and execution of our exceptional products at Nsano.

In this month’s Staff in Focus, we get to know more about Akosua, her team and her work.

Q: Describe yourself in 3 adjectives.

A: Fastidious, Empathetic, Inquisitive

Q: What is a product you currently use every day? Why do you use it?

A: I have two Apps I use daily; Twitter for daily updates, trends, news etc. and the NBA app for live scores and updates on the games. 

Q: Mention 3 things that inspire you

A: Successful athletes, artist(e)s and entrepreneurs inspire me. Their dedication, hard work and discipline inspire me.

Q: Describe a day in your life as a Product Lead?

A: I’d usually start my day by checking my emails and Skype for updates I may have missed from the previous day. I will then meet my key stakeholders: business team, user experience team and engineering team. I document key actions from these meetings and get to work. By evening, I review the day’s work and plan for the next day.

Q: What aspects of Product Management do you find the most exciting?

A: Ideation

Q: What has been the proudest moment in your career? 

A: I am still looking forward to it. I am not there yet.

Q: Your favourite Nsano-recommended book.

A: Digital Gold. The story of the community around Bitcoin, their work and dedication to the cause and the success that came with it is fascinating.

Q: If you were to travel now to any part of the world, where would you go?

A: I would travel across Africa and learn about the people, culture, and history. I want to immerse myself in their experiences.

Q: What is the best piece of advice you’ve ever received?

A: Jesus Christ telling us not to worry about tomorrow and Paul the Apostle’s advice not to be anxious and take every need to the Lord in prayer.

Q: If you didn’t have to do an 8 to 5 and had all the resources, what would you do with your time?

A: I would travel the world, interact with people, and learn their culture and history.

Q: If you were to write a book, what would be the title?

A: Everyday People

Q: Delete one app forever: Twitter, WhatsApp, Apple Music.

A: Apple Music

Q: If you could have an unlimited supply of one thing, what would it be?

A: Peace of mind

Q: What do you love most about working at Nsano?

A: The people that I get to work with every day. Young people taking on challenges and conquering them head-on.

Join us monthly for spotlight on Nsano’s people. Follow us on all our social media handles for exciting updates. 

Nsano Staff In Focus: Up-Close With Priscilla Hazel

Priscilla Hazel is Nsano’s Regional Head for West & Central Africa.

Priscilla’s experiences are multi-faceted; from software entrepreneurship to sales, business development, commercial performance, pricing, to name a few. She is fluent in French and English; her switch from one to another when need be is delightful. The calm, deep-thinking Priscilla spots opportunities in the most unlikely of places with several being huge success stories.

She is our personality for this month’s Staff in Focus.

Q: If your friends are asked to describe you, which 3 adjectives will be the most common?

A: Adventurous, persistent, and stubborn

Q: What is your all-time favourite quote and why?

A:  You see through your eyes and you see with your mind. It gets you to pay more attention and not take things at face value. I love that it applies to every aspect of one’s life.

Q: If you could meet any personality from the Bible aside Jesus Christ, who would it be and why?

A: Enoch. I am curious about the sort of relationship he had with God because being taken alive from earth to heaven sounds exciting.

Q: What is the most challenging part of your job?

A: Learning to adapt to meet the changing demands of the industry.

Q: If you could take on a volunteering project, what would it be and why?

A: I would love to help the elderly. I believe there is much to learn from their experiences, so finding ways to help and support them, as well as offering a listening ear will be fulfilling.

Q: What’s the one thing you look out for in hiring a team member?

A: A can-do spirit. I also look out for the willingness to learn

Q: You have a 1-day notice to speak at an event on any topic of choice. What topic will it be and why?

A: Decision-making or positive thinking. I’ve come to realize that these two are critical in life and can propel you to great heights.

Q: Which recent fintech trend or development fascinates you the most and why?

A: Open banking. I find it interesting that Open banking provides an avenue for customers to get tailor-made financial solutions using their financial data. The collaboration between financial institutions, fintechs and customers to make Open Banking a success  on the continent is one thing I look forward to with excitement.

Q: What are your thoughts on the future of FinTech in Africa?

A: Right now, it seems fintech is synonymous with payments in Africa, although it involves so much more. Finance includes insurance, investment, savings etc. I believe there is just a lot more in store for Fintechs in Africa beyond payments.

Q: What do you love most about working at Nsano?

A:  Definitely the food 😊! More importantly, Nsano affords you the opportunity to continuously learn and improve in order to become an expert in your field.

Q: If you could have a career as a chef, hairstylist, photographer and designer, which would be most preferred?

A: Chef 

Join us monthly for spotlight on Nsano’s people. Follow us on all our social media handles for exciting updates. 

Nsano Staff In Focus: Up-Close With Frederick Kofi Amey

Finance is said to be the lifeblood of every business. It is obvious that ‘money management’ has great impact on the survival or otherwise of a business.

Today, we engage our ‘Chief Money Manager’, Frederick Kofi Amey. He is everyone’s friend and no one’s friend 😊. When he is releasing the funds, he is the best. When he is asking the ‘whys’, your guess is as good as ours.

A chartered accountant, tax professional and experienced auditor with diplomas in Forensics Audit and Treasury management, Fred has worked the last decade building knowledge and gathering experiences that have shaped the excellent work he does at Nsano.

In this month’s Staff in Focus, we get to know more about his motivation, his life, work and some fun facts.

Q: What would you say are your personal values?

A: Hard work, Continuous Learning and Integrity

Q: How and where do you find inspiration?

A: God’s word (Bible) and my day-to-day interactions with people. I try to take something from each interaction I have with people.

Q: If you could master one highly valued skill in 3 days, what would that skill be?

A: Programming

Q: What would you say is the highlight of your Finance & Accounting career so far?

A: Becoming Head of Finance at Nsano.

Q: What runs through your mind at the start of each working week?

A: How to optimize the use of Nsano’s finances and figure out ways we can make our money work for us.

Q: Recommend a book to us.

A: The richest man in Babylon” and “The psychology of money”

Q: How do you handle pressure?

A: By stepping back to analyse the situation from different perspectives. I then take a walk while listening to hymns to calm me down and clear my head. These actions always help me to handle situations that seem overwhelming.

Q: If you weren’t in Fintech, which sector would you have been?

A: Education sector – Lecturing (It’s a passion)

Q: Share with us one finance tip for business owners.

A: Do not leave any money idle. Let every amount you have work for you.

Q: If you could have 2 music performers at an event to honor you, who would they be and why?

A:  1. Harmonious Chorale – Because they are able to bring life to my “hymns”.

     2. Kofi Kinaata – He brings the gospel to the world in a contemporary way. He speaks to/for me in some of his songs. His music inspires me.

Q: What do you love most about working at Nsano?

A: The fast-paced environment and the opportunities to grow.

Join us monthly for spotlight on Nsano’s people. Follow us on all our social media handles for exciting updates. 

Ghana’s Escrow Via Mobile Money Service That’s Integral for All Business Transactions


Picture this.

You’ve come across a page on Instagram advertising these dope headphones on sale. The ad catches your attention. You decide to place an order by making payment. The owner confirms and notifies you of their 3-day delivery policy. After three days, you receive a call for directions, followed by the delivery of the headphones. You realize the item is different from what you ordered. You call the seller and it’s needless back and forth. The seller claims the item is the same as the one shown online, only it’s a different color, but you know there’s more to it than that. Eventually, you count it as your loss because the seller won’t budge.

Imagine this as well. You come across an item you have been searching for online. You contact the vendor, make payment because they operate a payment before delivery policy but after paying, the item is never delivered. Your money is gone with the wind.

Also, Imagine this next scenario as a seller. Customer places an order and asks to pay on delivery. A delivery guy is dispatched to customer only to discover that customer is nowhere to be found or unreachable. Sigh!

You may have experienced either one of these or know someone who has, especially in recent times.

When it comes to the exchange of goods and services, especially online, many have expressed grave concerns, and for good reason. Everyone wants their comfort and peace of mind when making a purchase or selling their products. Trading should be a seamless exchange of goods at a value where both parties are content with the exchange process. This is, however, not the case always.

It is for some of these reasons that the use of an escrow service is important in business. With an escrow service, funds are kept in a third-party account and only released when both buyer and seller involved in a transaction meet certain pre-agreed conditions amongst them.

What is an Escrow Service?

An escrow service acts as a middleman between two parties where the money is held or kept with the middleman until a particular condition is met.

Let’s consider a company that sells goods locally or internationally. If the company engages a potential buyer (individual or corporate), the company needs assurance that it will be paid when the goods are delivered and the buyer is satisfied.

The buyer, on the other hand, is only willing to pay for the goods upon seeing the goods and getting the needed satisfaction. In this case both buyer and seller have need for comfort and could do with an escrow service, in which the buyer’s funds are held by a third party. The funds are transferred to the seller when both parties are satisfied with the terms, they agreed to e.g., payment upon delivery. This protects both parties’ interests.

Most escrow services are facilitated by banks or financial institutions. These banks operate an escrow account, particularly for home purchases, and act as a neutral entity that oversees transactions between the client and beneficiary. Clients can deposit funds into the escrow account. However, because of the nature of the transaction, a client may incur high mortgage costs, especially if escrow is used to pay for taxes and insurance. When a customer is making mortgage payments, for example, he or she may be required to make a down payment which may include several thousands and if funded within the loan, can take the buyer years to pay. Escrow fees are high, and banks may have daunting requirements to facilitate such transactions.

To make escrow easily available and affordable to a wider audience, Nsano launched a novel Mobile Money escrow service called Move Secure in Ghana. The service works by keeping money in trust until both the seller and the buyer are satisfied with the transaction. This is a much-needed remedy to re-establish trust between buyers and sellers. The widespread use of Mobile Money for financial transactions fast-tracked by the global COVID-19 pandemic, shows that many Ghanaians preferred their mobile money accounts for deposits, funds transfers, and even payments of goods and services. With 41m registered mobile money accounts, 17.5m of which are active, Move Secure has essentially democratized escrow services.

Beyond its novelty, another exciting feature of Move Secure is its Online Dispute Resolution Centre, where in the event of a disagreement, either party can file a complaint. Here, both parties are given a period to settle the dispute as a first step. If both parties are unable to resolve the dispute, either party may request the services of a mediator to aid in the resolution, after which the payment will be released based on the outcome of the dispute resolution. The services of this Dispute Centre are totally free.

With rising concerns regarding online purchases, particularly heightened when it comes to high-end items, using an escrow service should be a no brainer. Move Secure caters to the needs of a buyer who wants guarantee that their items will be delivered once payment is made, as well as a seller who wants assurance that their goods or services have been paid for before delivery is made.

The advantages of Move Secure are numerous. It provides comfort for both buyers and sellers in the exchange process, enables safe and secure transactions on Mobile Money and builds trust in online and offline commerce.

How Does it Work?

When a buyer pays for an order via Move Secure, a seller gets an SMS confirming that a payment has received on the seller’s behalf and it’s being held in trust by Move Secure.  After a satisfactory delivery, the funds are instantly released to seller. This payment also removes the risk of wasting time or money transporting orders to uninterested customers.

The next time you are paying for an order or selling your goods or service, remember to use Move Secure. To use the service, simply dial *718# and choose option 2 or download the Move App via Play Store or AppStore for all your transactions.

For more details, visit the website – https://movegh.com/secure

Nsano Staff In Focus: Up-Close With Solace Kidisil

“Self-confidence results, first, from exact knowledge; second, the ability to impart that knowledge.” Napoleon Hill

Solace Kidisil typifies this quote. She is a walking encyclopedia. A results-driven Engineer and Project Management Professional, Solace has a deep understanding of Africa’s payment trends and markets. Solace currently leads Nsano’s operations in East and Southern Africa as the Regional Head.

In this month’s Staff In Focus, we get to know more about her and hopefully learn a lot in this short piece.

Q: Which 3 adjectives best describe you?

A:  Tenacious, Rational, Kind.

Q: How would you describe your approach to leadership?

A: My approach is generally to empower my team to have the attitude of getting things done, raising the right questions, and providing solutions. My team always involves these 3 principles in their work.

Q: What is your all-time favourite motivational quote and why?

A: It’s a Bible verse: John 8:14. “Jesus answered, ‘Even if I testify on my own behalf, my testimony is valid, for I know where I came from and where I am going. But you have no idea where I come from or where I am going.” This has been my favorite quote because I believe the world always tries to impose on us views of who we should be, but we should be confident in who we think we are regardless of what they world may think.

Q: If you could have a 1-on-1 conversation with any leader in the world, who would it be and why?

A: Angela Merkel, outgoing German chancellor. She is a strong woman to have been able to hold the fort in Germany for years. Beyond that, she is an influential figure in the world’s political space. To be able to balance that in a generally misogynistic world, while keeping a home is impressive. It will be interesting to get insights on her source of strength and her strategy for managing all the various aspects of her life.  

Q: In your experience across different markets in Africa, would you say fintech firms are collaborating with banks more or rather competing with banks more?

A: There are different dispensations across Africa. For example, In Kenya, MPESA isn’t collaborating much because it is larger than life?.  In Nigeria, it is mostly a bank-led dispensation with very few Fintechs able to differentiate themselves from the banks. Then there is Ghana which is more of a middle ground with a lot more collaboration between banks and Fintechs. So, there are essentially different deployments or implementations across Africa depending on the specific economic conditions or the level of growth of the industry. These influence how Fintechs collaborate with banks.

Q: If someone says, Solace has traveled to her favourite country in Africa, which country will the person be referring to? (Aside Ghana of course, since you’re Ghanaian)

A: Zambia. This is because it is a lot more like home, and the weather is milder. But when it comes to food, I love Abidjan croissants. So, it really depends. If the question is my favourite for food, Cote d’Ivoire but my favourite place where I spend most of my time and work, Zambia.

Q: What’s the one thing you look out for in hiring a member of your team?

A: Attitude. Having the right attitude, the can-do attitude, the willingness-to-learn attitude, the willingness-to-cooperate-with-others attitude, the willingness-to-put-the-team-goals-first attitude. These are attitudes I look out for when choosing my team members.

Q: Which recent Fintech trend or development fascinates you the most and why?

A: Digital currencies. Its journey from being ‘money’ most people believed will fail to its success. Today, regulators are having to adopt a form of it in their respective countries and currencies. These developments have been fascinating.  It’s been a lot of changes in a very short time.

Q: Who are your top 3 Fintech business leaders and why?

A: 1. Kofi Owusu-Nhyira

2. The Collison brothers (Patrick & John), founders of Stripe

3. Strive Masiyiwa

Q: What are your thoughts on the future of Fintech in Africa?

A: Fintech will evolve and grow beyond payments. This may disrupt traditional financial services as we have known them. I look forward to that time when this differentiation will transform more lives and further increase financial inclusion.

Q: What do you love most about working at Nsano?

A:  The excitement and the constant change. I am constantly growing, constantly learning, constantly on the move due to new challenges that excite me. I am not someone to stay down for too long, so I like the adrenaline pump that comes with these changes. I enjoy being on the move, finding solutions to challenges.

Join us monthly for spotlight on Nsano’s people. Follow us on all our social media handles for exciting updates. 

The benefits of using a trusted online checkout service

Any web page(s) given to a customer throughout the step-by-step checkout procedure are referred to as a checkout page. Checkout pages are like the online equivalent of a grocery store’s physical checkout counter.

Just like how customers can provide the items they want to buy and make payment at a physical checkout counter, customers can submit payment information and finalize their orders on the checkout page. The customer’s shipping information, billing information, shipment method, and payment method will be collected during the checkout process. Then the customer is given the choice to complete the order.

Screenshot of a checkout page
A screenshot of a checkout page

So, what exactly is checkout abandonment and why does it happen?

Checkout abandonment is the situation when a customer quits the payment procedure after starting the checkout process. As a result, conversions are lost since buyers do not complete the payment process. In order to better understand why customers quit their checkout pages, most firms turn to analytics. This is to guide and help them develop a better user experience and increase revenue. Data from 41 different studies showed that the average cart abandonment rate is just under 70 percent.

A few reasons why customers abandon checkout

  1. Unclear Pricing: Unexpected costs such as shipping, taxes, and extra fees are usually not made obvious to the customer before purchase. Hence these costs are added to the order summary at the time of purchase. This causes customers to reassess the value of the purchase they are making. Customers tend to change their minds because of these additional costs.
  2. Account required: Compelling users to register to make progress with their online order provides a barrier for ready-to-buy clients. Some online stores may ask for time-consuming information such as your birthday and phone number, which aren’t required to purchase an item online. For some shoppers, having to provide all that information for a single transaction is inconvenient, making it difficult for customers to check out and, as a result, losing them.
  3. Long and complicated checkout process: When making an online purchase, customers expect a quick checkout process. Customers will be slowed down and may quit a checkout process that takes too long, demands too much information, and is difficult to follow along with.
  4. Periodic performance issues, errors, and crashes: Persistent performance issues, glitches, and crashes degrade the user experience and cause skepticism in the payment process.
  5. Lack of alternative payment methods: Without the ability to offer distinct shipping alternatives and several payment ways, retailers fail to provide the ease that customers want and expect from retailers. Most customers will not purchase an item if it cannot be shipped by their favorite courier or paid using their preferred manner.

How to combat checkout abandonment

  1. Provide alternative payment options: The most popular payment methods should be prioritized. It has been proven that the more payment alternatives available, the more likely customers are to complete their purchase. You may start with the popular payment methods so that most of your consumers may have their preferred payment method available, and then add on additional, less popular options as your business becomes more viable and more profitable in the future. Manilla, Nsano’s web checkout page allows users to make payments using their Visa cards, Mastercard cards and all Mobile money wallets. This makes it easy for shoppers to use their preferred payment method and buy items in their cart in just one click.
  2. Prioritize mobile-friendly design: Online shopping sites should prioritize mobile-friendly design while creating, designing, and optimizing their checkout to make the process seamless and consistent across all device types. For Manilla web checkout service, existing clients confirm the interface is simple, easy and user friendly for their customers.
  3. Offer one-click checkout: The checkout experience determines the success of your online store. In as few clicks as possible, a positive experience will lead shoppers to the purchase confirmation page. If it’s a negative one, they’ll leave halfway through. Manilla offers a seamless checkout procedure, such as one-click checkout to complete the online transaction after a customer successfully load carts or selects products and services on an e-commerce site.

Unclear pricing, complicated checkout processes, and lack of payment options are some of the major reasons why customers leave.

The good news is that it can be avoided with Manilla web checkout service. Our mobile-friendly design ensures a seamless checkout experience across all devices. Manilla allows shoppers to buy their items with local payment methods, including digital wallets.

Sign up and give Manilla a try today.

To get started, contact Nsano via email at sales@nsano.com or call 055 968 9983.

Can Neobanks thrive in Ghana?

Would you choose a bank with no physical building but top-notch digital services at competitive rates? Must a bank have a brick-and-mortar premises to give you comfort?

Well, customers of Neobanks don’t seem to care much about Physical banking halls.

Neobanks are digital-only, fully functional banks. This means they operate online or mobile only financial services. They are banks, only without a traditional brick and mortar building or physical premises for banking. Some of the services Neobanks offer include checking and savings accounts, payments, money transfer services, loans, among other related services. They have some unique and mostly competitive banking services. For example, Lidya, a neobank headquartered in Lagos, Nigeria offers customers algorithm-based credit scores that eliminate the need for collaterals and help customers unlock better rates and capital when looking to get a loan. Such unique, technology-based products help to differentiate Neobanks’ offerings.

There are two main types of Neobanks; Full Stack Neobanks and Front End Focused Neobanks.

Full-stack neobanks are standalone banks with appropriate banking licenses to offer services end-to-end. An example of such is Durham-based Atom Bank.

Front-end focused neobanks are however, dependent on a legacy bank to funnel their services to the customers. They do not have banking licenses but rather manage the frontline customer experience and interface. Such Neobanks operate in conjunction with an existing Bank. London-based Revolut is an example.

A notable Neobank in neighbouring Nigeria is Kuda. Kuda promises its customers free debit cards, budgeting trackers to control spending, free transfers to other banks, remote blocking of missing cards, highly rewarding savings packages, among others. Neobanks can afford such benefits because they typically have lower overhead costs due to no physical branches, few to no ATM installations, and fewer staff. These aforementioned costs are usually huge expenses for traditional banks which in turn influence their pricing. With the relatively low overheads for Neobanks, they can afford to lower costs for customers, thereby attracting more users.

Another advantage of Neobanks is that they are heavily driven by technology and easily embrace technological advancements compared to traditional banks. Their products and customer experience are usually top-notch, helping business models to thrive. For instance, it is quite common to see plain and basic traditional banks’ online platforms whereas Neobanks invest in smarter User Interface and User experiences. These result in customer loyalty and customer stickiness. In addition, technology-based Budget tracking and financial management offerings from Neobanks also position them as more customer centric. This is because they come off as services that support customers to make prudent financial decisions.

Moreover, Neobanks have been known to have faster turnaround processes due to the increased use of technologies such as customer service chatbots equipped with Artificial Intelligence capabilities. Kuda Bank, for example, has excellent customer reviews on their speed to complaint resolution.

Currently, there is no Neobank in Ghana. The question however remains whether Neobanks can thrive with the increasing digital banking services being provided by traditional banks and the growing competition in the banking industry.Ghanaians are embracing technology and the benefits it offers in various fields. This is a good foundation for Neobanks to thrive.

As of January 2021, internet penetration in Ghana was 50%, meaning half of the population use the internet.  With relatively lower cost of banking with Neobanks, it is safe to assume that Ghanaians will be excited to use them. Afterall, everyone values a good deal such as great banking services at lower costs. Moreover, Neobank accounts are easy to set up. You can sign up without any physical paperwork. Who wouldn’t choose such convenience? Yet, the absence of a physical presence could be a great hindrance to adoption. Some customers will prefer an option to visit a bank branch in person, especially with complex transactions, which will be highly unlikely with Neobanks.

An almost non-existent human interaction, regardless of how robust the customer service tools are could be a great demerit for Neobanks’ in Ghana. Banking and financial matters thrive on trust and for some, knowing where to find you physically matters.

Secondly, being a customer of a Neobank requires a lot of comfort with technology and trends that come with it. For basic technology users, this can be a lot to ask. So with basic tech skills, customers may have a fairly good experience because of their limited ability to take full advantage of the top-notch technology offerings that characterize Neobank services. This means that even though Neobanks may have the best banking products, customers may not enjoy the value in its entirety.

Thirdly, the bigger banks who also have digital services and the financial resources can partner fintechs to roll out similar Neobank offerings to a tech savvy base. With their resources, they could give Neobanks very stiff competition. This can adversely affect the survival of Neobanks, especially when they are not dependent or backed by a bank. Neobanks differentiate themselves by offering distinctive packages of products and services, which aren’t widely available among traditional banks, but when traditional banks roll out similar services, it hinders existing customers from switching.

In a highly competitive Ghanaian banking sector, building a large customer base as a Neobank means convincing significant number of people to switch their accounts from other providers or tapping into the unbanked population. This is an arduous task even for existing, well-known traditional banks and can prove laborious for a niche service like Neobanks. To make significant inroads will require a lot of time and resources. Not impossible, neither a walk in the park.

In conclusion, the much cliched quote attributed to Bill Gates that ‘banking is necessary, banks are not’ could be a helpful leverage for Neobanks who venture the Ghanaian Market. This coupled with increasing spotlight and efforts to improve internet penetration, digitization and financial inclusion in Ghana makes the idea of Neobanks a welcome one. Should Neobanks get their products right, pricing competitive and customer service par excellence, Ghana could see good patronage for Neobanks if they start operating here. Afterall, it is said that ‘too much of a good thing can be wonderful.’