IKEDC STS PREPAID METER UPGRADE

The current software for all prepaid electricity meters in the world including Nigeria will expire on 24th November 2024. This is called a TID Rollover. All STS Pre-paid meters within IE network must be upgraded, otherwise the meters would be unable to load energy tokens from 1st November 2023 when IE kicks off its TID rollover process.

Importantly, all IE customers with STS meters are required to provide NIN details prior to the upgrade. Your prepaid meter is STS if 20-digit token numbers are generated whenever you buy electricity).

STS PREPAID METER UPGRADE PROCESS

Upgrade your STS Prepaid Meter in 2 easy steps:

Step 01: NIN-Meter Link

Kindly visit Smart KYC to link your meter number and NIN

  • Click on the “Link your NIN And Meter” button.
  • Input your phone number, NIN and email address.
  • Confirm your NIN details and click on next if information returned is correct.
  • Input your meter number and verification code sent to your email, then click on submit.
  • Please note that only one (1) NIN can be linked to a meter except Landlords with multiple meters, who can use their NIN repeatedly.

Your information will be treated with utmost confidentiality.

Step 02: STS Prepaid Meter Upgrade Process

  • • To upgrade your meter, you need a Key Change Token-KCT (a special ‘reset’ token) to be loaded on your meter. • You will receive three (3) sets of 20-digit token upon vending as from November 1st, 2023.
  • Input the first set of 20-digits token (KCT 1), this will wipe off the old meter settings • Input the second set of 20-digit token (KCT 2), this will then upgrade your meter to the new STS platform.
  • The last set of 20-digit token will load the purchased energy value into the meter.

Please Note: Only customers who have linked their NIN will receive the two sets of 20- digit token (KCT 1 & 2), delivered alongside their energy token at the point of vending, as from November 1, 2023.

If you like to watch, here is a video that will help you understand better.

For enquiries and complaints, please contact our customer care helpline 09087482377 or send email to support@vtpass.com. Bills payment with vtpass.com is superfast, easy and very convenient. In addition, you get 24/7 access to our support team to help you through any glitch you might have. Why don’t you try us today?

Digital Payments in Nigeria: Empowering Financial Inclusion in the Modern Era

In the modern era, financial inclusion is no longer a luxury but a necessity. Access to financial services, especially in emerging economies like Nigeria, plays a pivotal role in improving the livelihoods of the underprivileged and driving economic growth. As a result, digital payments have emerged as a potent tool in achieving these goals. 

Digital Payments methods

Understanding Financial Inclusion

To begin with, financial inclusion is the process of ensuring that individuals and businesses have access to affordable, convenient, and secure financial services. These services can range from simple savings and payment accounts to more complex financial products like loans and insurance. In the context of Nigeria, achieving financial inclusion is crucial due to the significant portion of the population that remains unbanked or underbanked.

To demonstrate this, the World Bank’s Global Findex Database reported that, as of 2017, only 40% of adults in Nigeria had access to formal financial services. The government and various stakeholders recognized this as an issue that needed to be addressed. Digital payments are seen as a means to bridge this gap.

The Rise of Digital Payments in Nigeria

  • MOBILE PHONE PENETRATION

First and foremost, Nigeria has one of the highest mobile phone penetration rates in Africa. According to the Nigerian Communications Commission (NCC), there were over 196 million mobile subscribers in Nigeria as of 2020. This widespread use of mobile phones serves as the foundation for digital payment systems.

  • GOVERNMENT INITIATIVES

Moreover, the Central Bank of Nigeria (CBN) has actively promoted financial inclusion through various policies and initiatives. The “Cashless Nigeria” policy and the “National Financial Inclusion Strategy” have played crucial roles in encouraging the adoption of digital payments.

  • FINTECH INNOVATION

Furthermore, the rise of fintech companies in Nigeria has introduced a wave of innovative financial products and services. These companies have leveraged technology to provide digital payment solutions that cater to the needs of a wide range of customers, including those in underserved and rural areas.

Key Digital Payment Methods in Nigeria

Digital payments have had a transformative impact on financial inclusion in Nigeria. Here are some of the ways in which they have empowered individuals and businesses:

  • ACCESSIBILITY:

In particular, digital payment methods are accessible to individuals regardless of their location. Rural and underserved areas have seen a significant improvement in access to financial services through mobile apps and USSD banking.

  • AFFORDABILITY:

Also, digital payments are often more cost-effective than traditional banking. There are fewer fees associated with maintaining digital wallets or conducting transactions through mobile phones.

  • SECURITY:

Digital payments provide a secure way to store and transfer money, reducing the risks associated with carrying cash.

  • INCLUSION OF INFORMAL SECTOR

Many individuals engaged in the informal sector, such as small traders and artisans, now have access to financial services, enabling them to save and grow their businesses.

  • FINANCIAL LITERACY

The use of digital payments has contributed to an increase in financial literacy among Nigerians. Users become more familiar with banking concepts and practices through regular use.

Challenges and Opportunities

While digital payments have made significant strides in Nigeria, several challenges and opportunities remain:

  • INFRASTRUCTURE AND CONNECTIVITY

Limited access to the internet and mobile network coverage in some rural areas can hinder the growth of digital payments. Investments in infrastructure are needed to address this issue.

  • CYBER-SECURITY

With the growth of digital payments, the risk of cybercrimes and fraud has also increased. There is a need for robust cybersecurity measures and awareness campaigns to protect users.

  • FINANCIAL LITERACY

Despite the increase in financial literacy due to digital payments, there is still a need for educational campaigns to enhance users’ understanding of digital financial services.

  • PARTNERSHIP

Collaboration between financial institutions, fintech companies like Vtpass, and telecom operators can foster the development of innovative solutions and improve financial inclusion.

  • CROSS-BORDER TRANSACTION

Enhancing the capabilities for cross-border digital transactions can facilitate international trade and the influx of remittances.

CONCLUSION

Digital payments in Nigeria have emerged as a powerful tool in advancing financial inclusion. The widespread adoption of mobile phones, coupled with government initiatives and fintech innovation, has enabled millions to access affordable and secure financial services. While challenges remain, the future looks promising as the digital payments landscape continues to evolve, making strides in improving the financial well-being of Nigerians and propelling the nation towards greater economic growth. Financial inclusion is not just a buzzword but a tangible goal within reach, thanks to the modern era of digital payments.

To conclude, as Nigeria continues to develop its digital payments ecosystem, it is imperative that all stakeholders – government, financial institutions, fintech companies, and consumers – work together to overcome challenges and seize opportunities to ensure that financial inclusion becomes a reality for all. The journey has begun, and the destination is a more prosperous and financially inclusive Nigeria.

HAPPY CUSTOMER SERVICE WEEK FROM VTPASS

Guess what time it is? It’s that wonderful week of the year when we put on our celebration hats, crank up the confetti cannons, and dance to the rhythm of gratitude. That’s right – it’s Customer Service Week, and we’re here to party with you! 🎈

At Vtpass, we believe that every week should be Customer Service Week. But hey, dedicating a whole week to celebrate our rockstar support team and, of course, our incredible customers? That’s just icing on the cake.

At VTpass, we strongly believe that customer service is not merely a department within our organisation; it’s a deeply ingrained culture that permeates every facet of our operations. Each interaction, every innovation, and every upgrade is meticulously designed not just to meet, but also to consistently exceed the expectations of our cherished customers.

While we acknowledge that we’re not flawless, we are committed to the path of continuous improvement. As we navigate this journey from where we are to where we aspire to be, we extend our heartfelt gratitude to you, our invaluable customers, for standing by us every step of the way. While Customer Service Week is a designated time for celebration, please know that we celebrate you every day for being the driving force that keeps our lights on.

CUSTOMER APPRECIATION

In this extended exploration of our commitment to customer service, we intend to delve deeper into the essence of VTpass’s customer-centric philosophy. With over a decade of serving you, we reaffirm our dedication to delivering the highest level of service excellence. This includes our unwavering pledge to continually refine and optimise your VTpass experience, as well as our tireless efforts to brainstorm and innovate, all in the pursuit of answering the question, “What more can we give you?”

Our Journey Together: Reflecting on Progress

As we traverse the path of steady growth and evolution, one thing remains immutable. That our customers are, have always been, and will forever be our numero uno priority. Our customer-first ethos serves as our North Star, guiding us through every decision, every strategy, and every interaction.

It’s only fitting that we take a moment to reflect on our journey together. VTpass has evolved from its inception, and this evolution is a direct result of our commitment to listening, learning, and adapting based on your valuable feedback.

From the very beginning, we have strived to offer a seamless platform for your various needs, whether it’s bill payments, mobile top-ups, insurance, or other essential services. We’ve worked diligently to ensure that our platform remains user-friendly, secure, and efficient.

The VTpass Experience: An Ongoing Upgrade

One of our core principles is never settling for the status quo. We acknowledge that technology and customer expectations are in constant flux. Therefore, we have made it our mission to evolve with these changes, ensuring that VTpass consistently offers a best-in-class experience.

Our development and tech teams work tirelessly behind the scenes to bring you regular updates, enhancements, and optimizations. We’ve embraced the feedback loop with open arms, using your insights to inform our platform’s evolution.

What’s in the Pipeline: “What More Can We Give to You?”

The question of “What more can we give to you?” is more than just a rhetorical one. It’s a mantra that drives our innovation.

We’re expanding our services to cater to a wider spectrum of your needs. From new billers and insurers to enhanced security measures and a sleeker user interface, we’re pulling out all the stops to ensure that VTpass remains your preferred one-stop solution.

You: Our North Star

In closing, we want to express our deepest appreciation to each and every one of you. Your unwavering trust, your invaluable feedback, and your continued patronage fuel our drive to excel. Customer Service Week may have an official start and end date, but rest assured, our celebration of you knows no bounds and has no time constraints.

Thank you for being the heartbeat of VTpass. Here’s to many more years of partnership, innovation, and celebration. Together, we’ll continue to illuminate the path forward. Whenever you experience any issues, rest assured that we will help resolve them. You can always send an email to support@vtpass.com, call our active support line on 09087482377, use the live chat feature on the website, or contact us via our social media channels (FacebookInstagram, and Twitter.)