lalasticlala

lalasticlala

lalasticlala
Happy Eid

Investing according to Islamic principles can offer many benefits to Muslims and non-Muslims alike. Halal investing encourages a disciplined investment process that promotes in-depth security research and monitoring. Generally, the low debt requirements of Islamic screens facilitate a conservative approach that appeals to risk-averse investors.

Because Islamic principles preclude the use of interest-paying investments, halal cash reserves cannot be invested in traditional money market funds or deposited in an interest-earning bank account and therefore do not earn income.

Shariah Compliant Mutual Funds are a type of socially responsible investing based on the Shariah or Shariat law of Muslim religion. These mutual funds adhere to the Shariah law which is a moral code of Islam.

Halal investing requires investment decisions to be made in accordance with Islamic principles. As a faith-based approach to investment management, investors often consider halal investing to be a category of ethical or socially responsible investing.

Halal Fund is an open ended naira based mutual fund designed to meet the investment needs of investors seeking long-term income generation through Shari’ah compliant investments. The Fund invests broadly in a diversified portfolio of asset backed investments such as Sovereign Sukuk, Corporate Sukuk, Ijarah (Lease), Murabaha (Cost plus mark-up), Musharaka (Partnership) and Mudarabah (Working Partner) contracts.

Sukuk Investments: Like Bonds, But Halal

Sukuk investment certificates are similar to bonds, but they are not debt-based and thus halal. Islamic principles discourage debt in general; interest payments on debt owed are viewed as usury, exploitative of the debtor, and are thus prohibited (haram). Islamic principles therefore prohibit investment in conventional bonds and other debt securities that generate interest income. Sukuk investments are halal because they seek to generate profit from the investment income of their underlying assets, instead of interest and principal payments. On the surface, sukuk may appear similar to bonds: They have maturities; they may be rated by major credit rating agencies, such as S&P or Moody’s; and they generate regular investment income payments, similar to the coupon payments from conventional bonds. So, what makes sukuk investments halal? They must meet the following CORE Criteria.

https://blog.investa.ng/what-is-halal-funds/

What is a budget?

A budget is a financial plan for a defined period, often one year. It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows

Why are budgets so important

budgeting is important because it helps you control your spending, track your expenses, and save more money. Additionally, budgeting can help you make better financial decisions, prepare for emergencies, get out of debt, and stay focused on your long-term financial goals.

What’s a financial plan?

Financial planning is the process of outlining how your money, investments and other assets can help you meet your financial goals.
A financial plan identifies, organizes and prioritizes your financial goals, then outlines the steps you need to take to achieve them.
A financial plan is a document containing a person's current money situation and long-term monetary goals, as well as strategies to achieve those goals. A financial plan may be created independently or with the help of a certified financial planner.


Importance of having a budget 

Managing a budget is crucial anytime, but especially in 2021 with the impact of COVID-19 on the economy.  Budgeting is that the most basic tools for managing your money. Still, a vast majority of people avoid having a budget because it's “extra work”. Often time people believe that budgeting also dictates that you are no longer allowed to have fun and enjoy things. Let me tell you from over a decade of budgeting this is completely false, honestly, it does the exact opposite.

A Budget Helps You Save Money
Budgeting helps you save money by controlling your expenses and eliminating wasteful spending. Additionally, since budgeting requires you to plan your finances ahead of time, you can save money without worrying if you will have enough left over for your living expenses.

A Budget Keeps You Out of Debt
A budget can keep you out of debt or help you get out of debt. A budget actually creates extra money for you to do use on things that matter to you. A budget helps you sleep better at night because you don't lie awake worrying about how you're going to make ends meet.

A Budget Keeps People Organized On Spending
With a Budget, you have plans on what to spend on and what not to spend on. For example having a monthly budget can save you money when going for shopping for example

A Budget Helps You Meet Long-Term Goals
Having a budget in place will allow you to maximize your income – paying down debt, building your savings, and achieving financial health. A budget also helps you identify areas where you can cut back spending, freeing up more money for savings goals or paying down debt.

Will Help Create a Cushion for Unexpected Expenses
Due to the fact you have savings , that means you have extra cash to handle unexpected expenses that might arise. You have enough cash to meet those needs immediately. you wouldn't need to borrow

Allows You to Pay Debt Quickly

Budgeting Helps You Invest
A budget allows you to understand what you can afford, make the most of buying and investing opportunities

https://blog.investa.ng/importance-of-having-a-budget/

lalasticlala

Challenges of Fintech in Nigeria



Financial technology is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.

Whilst FinTech makes it easy for customers to pay bills, invest, save money, access loans/other financial products at little or no additional cost, e-commerce makes it easy for goods to be purchased online and delivered to customers.

E-Commerce companies typically integrate their platforms with FinTech to accept online payments. While this relationship has proved beneficial to both parties, they have also had to suffer the hurdles of running digital businesses in Nigeria.



The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public. Financial technology companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.



FinTech has redefined financial services through technology, speed, and simplifying transactions. It has led to the emergence of new business models, products and solutions that are reshaping financial services in Nigeria. It has influenced the approach of banks to financial services. Nigerian banks now have internet/mobile banking platforms while some are also leveraging the social media to provide financial services to their customers.

Since the introduction of the cashless policy in 2012, the CBN has issued numerous guidelines that have bolstered the Nigerian FinTech ecosystem. The Federal Government also enacted the Cyber Crimes Act 2015 to combat cybercrime, while the Electronic Transaction Bill and the Data Protection Bill are currently before the National Assembly.

Notwithstanding the above, these regulations and laws do not adequately address the numerous challenges the ecosystem faces. We have provided details of some of the challenges the industry faces below.



Chargebacks

A chargeback is a payment returned to a credit/debit card after a customer debates the validity of an online purchase. Although it may occur as a result of an error from an e-commerce merchant or the unauthorized use of debit/credit card information, there are instances where the customer that received the purchased product denies receiving it or claims to have returned the product without being refunded (friendly fraud).



In the scenario described in the paragraph above, the CBN mandates the merchant to refund the payment to the customer even where the transaction was a friendly fraud. As such, no regulation currently exists that protects e-commerce merchants and or FinTech companies from friendly fraud. Depending on the amount involved, the merchant and the FinTech company have to reach a commercial decision on loss sharing.



Fraud

The CBN mandates financial institutions to put security mechanisms in place towards protecting their system against fraud. FinTech companies are prone to cyber fraud, and their systems are constantly under attack. It has been estimated that Nigerian financial institutions lost approximately N159, 000, 000, 000.00 (One Hundred and Fifty-Nine Billion Naira) to cyber fraud between 2000 and 2013. Nigeria is ranked third globally in cybercrimes.



Barrier to Entry

Under the Guidelines for Mobile Money Services in Nigeria, anyone applying for a mobile money license from the CBN must provide evidence of having a minimum of N2, 000, 000, 000.00 (Two Billion Naira) as its shareholders’ funds, or roughly $7, 000, 000 (Seven Million Dollars) and serves as a huge discouragement to FinTech startups from applying for a mobile money licence.



Law Enforcement Agencies’ Ignorance of e-Commerce and FinTech

Law enforcement agencies rarely have the knowledge of how e-Commerce and or FinTech platforms work. Consequently, this tends to affect the course of their investigating cyber fraud committed on a payment platform. As you would have seen from the FinePay scenario, their first step typically is to instruct the merchant and or FinTech company’s bankers to place a lien on the company’s account, regardless of the amount involved in the alleged crime or in the respective merchant/Fintech company’s account with the bank.



Unclear Regulation

The CBN Guidelines for Mobile Money Services in Nigeria stipulate that mobile money services can either be Bank-Led or Non-Bank Led. The Bank-Led model refers to a Bank and or its consortium acting as lead initiator, while Non-Bank Led refers to a company licensed by the CBN acting as lead initiator. The Non-Bank Led model allows a CBN licensed company to deliver mobile money services to its customers. The licensed mobile money operators under the Non-Bank Led model often integrate their platforms with other financial solutions provider (as customers) to onboard merchants or use their respective platforms to process payments. Although, the guideline permits the integration, the CBN requires all financial solution providers to be licensed. The CBN often fines the licensed mobile money operators for integrating its platform with an unlicensed financial solutions provider.



Lack of Trust

Despite the innovative products offered by FinTech companies, customers prefer to conduct financial transactions with Nigerian banks. The brick and mortar banks are considered safer than FinTech platforms, despite being faster. In the same vein, some customers do not trust e-commerce companies. They are skeptical about the quality of goods, return policies and data security. Some e-Commerce companies have introduced Pay-On-Delivery (POD) to encourage customers to order online and pay when the goods are delivered. However, the POD has drawbacks: customers may refuse to pay/collect the goods, which could affect profit since time, human resources, and other expenses would have been incurred in the delivery of the goods.

In conclusion, the challenges described above as well as the FinePay scenario are typical of what e-commerce merchants and FinTech companies go through in doing business on a daily basis.

It goes without saying that the ecosystem provides a unique opportunity to promote financial inclusion in the country whilst enabling the CBN to reach its goal of reducing the percentage of unbanked persons from 46 percent to 20 percent by year 2021.

To achieve this however, it is important for the CBN to realize that in its role regulating the space, it must continuously review its policies towards enabling the ecosystem blossom. Our law enforcement agencies, particularly the Police, also need a thorough understanding of how FinTech and e-commerce work in order to enable them conduct investigations properly and not stifle business.


https://blog.investa.ng/challenges-of-fintech-in-nigeria/

lalasticlala

read from our blog
Financial Decisions you might Regret
https://blog.investa.ng/financial-decisions-you-might-regret/

I find this very interesting

Founder of Microsoft, Bill Gates’ cash in the bank can currently buy Nigeria’s stock market.

Most recent data postulates that the tech billionaire currently holds about $59.1 billion in the bank, far surpassing Nigeria’s Stock Exchange valuation of $53.7 billion (N20.4 trillion) at the time this report was drafted.

Bill Gates Net Worth amid Divorce With Melinda

The American billionaire is currently the fourth richest man in the world and his net worth is at a record high despite transferring nearly $2.4 billion in securities to Melinda Gates via Cascade Investment, Bill Gates investment vehicle, after filing for a divorce.

The troubled couple however affirmed their plan on remaining co-chairs and trustees of the Bill & Melinda Gates Foundation. Bill Gates’ close confidant, Warren Buffett is the foundation’s third trustee.

Bill Gates’ wealth is currently valued at $146 billion and he is estimated to have gained 14.1 billion in barely four months.

Gates has earned more than $50 billion in stock and dividends, including a $3.3 billion payout from Microsoft in 2004, as he owns about 1% of the world’s biggest software company.

He is the biggest shareholder of Canada’s biggest railroad operator, the Canadian National Railway.

Bill Gates made his wealth when he simplified the computer operating system by creating Microsoft Windows, the leading operating system in personal computers globally.

The billionaire has also disclosed that he doesn’t have any Bitcoin and spoke on the high price swing of the flagship crypto, often driven by “mania” prevailing in crypto markets making it hard for a normal investor to predict the crypto asset’s trajectory.

The data above shows that Bill Gates holds a significant amount of his wealth in cash, although it is noteworthy that he also has exposures in global equities, real estate, and collectables, which are also significant wealth creators for him.

Market experts have opined that the rationale behind holding so much cash amid rising inflation is to fund his philanthropic missions as he donates much of his wealth to causes that help better the world.

Gates’s current wealth valuation can at present, buy 80.2 million troy ounces or 2.14 billion barrels of crude oil.

https://nairametrics.com/2021/05/10/bill-gates-cash-can-buy-nigerias-stock-market/

omo scam everywhere

lalasticlala

Many Nigerians dont have the habit of investing but alot of nigerians like saving. Let us examine why you need to invest more than saving more.

Investing isn't simply a matter of throwing money around. It means we should be deliberate about how we apply our resources

If you restrict your expenses and keep the unspent money in your own custody for the purpose of accumulating it, is called saving money. Savings can be done at any age.

Setting aside cash and putting away cash are altogether various things, with various purposes and various parts in your monetary procedure. Ensuring you are sure about this crucial idea before you start your excursion to building riches and discovering monetary autonomy is indispensable.

Everyone needs an emergency fund, but for most people this should be between three and six months’ of expenses. Along with insurance, that’s typically enough on hand to react to the many common financial troubles, like being laid off, having an illness that prevents you from working, or facing an unexpected home repair. This is what we like to call your “Safety Cash.”

Saving is the safer route because the naira amount in your bank account won’t typically decrease unless you withdraw funds, but interest rates on savings accounts don’t allow your money to grow very quickly. Unfortunately, interest rates are often lower than the rate of inflation. This means your savings could lose purchasing power over time.

Investing money is the process of using your money, or capital, to buy an asset that you think has a good probability of generating a safe and acceptable rate of return over time. The goal of investing is to make you wealthier, even if it means suffering volatility, perhaps even for years.

Investing is buying assets such as stocks, bonds, mutual funds or real estate with the expectation that your investment will make money for you. Investments usually are selected to achieve long-term goals. Generally speaking, investments can be categorized as income investments or growth investments.

Whether or not it makes sense for you depends on your goals – specifically if they are long, short, or medium term.

Short-term goals - are things you plan to do within the next five years.
Medium-term goals - are things you plan to do within the next 5-10 years.
Longer-term goals - are ones where you’re won’t need the money for ten years or more.

When investing it is a good idea to consider if you would benefit from professional advice from a regulated independent financial adviser.

Investment starts only after savings. To invest your money, you need to focus on factors like risk, return, tenure, tax, and liquidity. It is better to start investing at an early stage of life. Once you start investing, the compounding effect starts appreciating your infused capital, gradually growing it day by day. Investment requires great discipline and patience. You can make an investment for short term, medium term and long term and also select the appropriate instrument as per your planning.

While investing, taking care of tax implications. Investment requires periodical reviewing of the portfolio as per the prevailing macroeconomic conditions. You can switch from you preferred investment assets in the future, taking into account alterations in your risk capacity and return requirements. An investor with a higher risk appetite can invest in the stock market whereas moderate risk takers can opt for mutual funds. Low risk taker can invest in instruments like bank deposits, PPF etc. The selection of the investment instrument boils down to one’s risk profile.

Which is more important: saving or investing?
Investment follows acts of saving. Unless you already own a huge amount of money, the only way to accumulate it is through saving. Once you have created a corpus, its value starts eroding due to inflation. Therefore to maintain or grow the value of your corpus, you must invest it in a higher return asset. We can say that without savings, we can’t invest, and without investment, we lose the value of saving. Hence both go hand-in-hand and are equally important.

Things to keep in mind
While you save, don’t ignore your important expenses just because you want to grow your corpus. Make proper provisions for all your necessities. Avoid unrealistic expectations from your investments – they need time to grow. Draw a proper plan to meet your short, medium and long term goals without impacting your day to day life. For proper guidance and better results, always consult an investment planner from time to time.

https://blog.investa.ng/why-you-need-to-stop-saving-and-invest-more/

lalasticlala

HenryThegreat1:
Nice points
But not investing is my major issue here.
I hardly found good investment platform I can trust my money with.

visit our website to get investment tips
http://investa.ng/invest/idea

thank you

Financial choices will determine whether you spend your life living in pleasure or ruin. Are you going to be financially free? Be in ruins? Or maintain your average lifestyle? This is totally up to you to decide. Here are some wrong choices that you would regret and should, therefore, look out for.

Living a life of waste
The secret to building wealth is simple: live within your means, month after month. But so often we feel deprived if we have to do without — especially if we think everyone else is living the good life. It is not everything you should buy.

Living a life without a budget
Tracking your money gives you greater awareness of your spending habits and what you’re actually doing with your money. In short, the most common consequences of not budgeting include a lack of savings, less financial security, out-of-control spending, a higher likelihood of going into debt, and more financial stress.

Not saving
One of the consequences of not saving any money is that you’ll be financially unprepared to deal with any unexpected emergencies that occur. Unexpected and unfortunate things happen in life, while they might not all cost you money – some of them will and you need to be prepared for that.

Not investing
Investing gives your money the potential to grow faster than it could in a savings account. If you have a long time until you need to meet your goal, your returns will compound. Basically, this means in addition to a higher rate of return on investments, your investment earnings will also earn money over time.

Wrong Investment Decisions
Failure to achieve your financial goals owing to wrong decisions can affect your personal and corporate finances. An abortion of objectives may also erode confidence in one’s ability or the expertise of a financial planner.

Falling for “get quick rich” schemes
If you hear or see the words ‘act now’, warning bells should start to ring. You need to do your research and exercise due diligence with any investment – and any financial adviser worthy of the title will encourage you to do this. You cannot make a fully informed decision in a matter of minutes or even hours, and if you are pressed to respond immediately, rather do not opt in. Dont fall for traps like MMM, invest in profitable ventures that bring back massive investments

Borrowing
Although there are many advantages to borrowing money for your business, there are other aspects to factor in as well. Firstly, in spite of increased affordability, due to interest, service fees and legal costs, borrowing money will ultimately cost you more than if you were to support your goals by yourself.

https://blog.investa.ng/financial-decisions-you-might-regret/

lalasticlala

just start

thanks, you can be part of the next big tech innovation in Nigeria.
Find out more below
https://investa.ng/invest/tech

TOP PAYMENT GATEWAYS IN NIGERIA

We all have heard how large paystack and flutterc wave are, lets talk about the major payment gateways in Nigeria.

Most consumers in Nigeria have upgraded to making payments online rather than the traditional way of making payments. As it is safe, fast, secure and stress-free. Therefore, merchants are expected to be able to meet up with these needs.

As a result, there is a wide range of payment gateways to choose from, as a merchant. Therefore, proper consideration must be made before making your choice. You have to know the solutions each provides, the pricing, the payment methods, the setup fees, accepted currencies etc.

In this article we’ll discuss the top payment gateways in Nigeria, with their features and pricing:

VoguePay


VoguePay is a unique online payment gateway whose vision is to offer buyers and sellers a secure and easy-to-use means of transacting business online.

Also, It allows merchants to give their customers more ways to pay online ranging from internet banking (direct pay), wallet transfers, mobile payment, subscription billing to Bitcoin payment. Receive and make online payment from anyone even if they have a Voguepay account or not.

Setup fee: N1500 (with Corporate Affairs Commission Certificate) and N2500 (with Government issued Identity cards)

Commission Per Transaction: Naira cards = 1.5%.

(Transactions above NGN 2,500 = 1.5% + NGN 30)

Withdrawal: 0.99% + NGN 99

VoguePay wallet & Wallet Fund transfer: 1%

International currencies:

Transaction fee: 3.8% +

Withdrawal fee: 1.5% +

Payment Method Accepted:

Visa, MasterCard, Bank Transfer, VoguePay Wallet

Accepted Currencies:

Naira (N), USD ($), Euro (€), GBP UK Pound (£), Ghanaian Cedi (GHS) and South African Rand (ZAR)

SDK Stacks: PHP, .net, Java

Annual Fee: Free


Flutterwave


Flutterwave makes it easier for banks and businesses to process payments across Africa. The service allows consumers to pay for things in their local currency. Flutterwave takes care of integrating banks and payment-service providers into its platform so businesses don’t have to take on the expense and burden.

Rave is a product of Flutterwave which allows website owners to accept debit/credit payments from customers in 154+ countries. Visa, MasterCard, Verve are supported. Your customers in the United States of America, South Africa and Nigeria can pay you directly from their bank accounts.

Pricing:

Commission Per Transaction: Local – 1.4%

International – 3.8%

Accepted Payment Method: Local – Mastercard, VISA, Bank Account, USSD, Bank Transfer, POS, Visa QR

International – Mastercard, VISA, AMEX

Setup Fee: Free

Accepted Currencies: BIF, CAD, CDF, CVE, EUR, GBP, GHS, GMD, GNF, KES, LRD, MWK, MZN, NGN, RWF, SLL, RWF, SLL, STD, TZS, UGX, USD, XAF, XOF, ZM

SDK Stacks: PHP, Node, Python, Android, iOS


GTPAY


GTPay is a product of GTBank, one of Nigeria’s top banks.

GTPay is a secure internet payment gateway targeted at facilitating payments online. It plugs in with the existing websites of customers and acts as a bridge between the customer’s website and financial institutions. It also accepts both locally and internationally issued cards including Interswitch, MasterCard and VISA.

Merchants get value the next working day after transaction takes place for local transactions and 48 working hours for international transactions.

It allows merchants to view transactions as they occur.

Pricing:

Setup fee: N75,000

MasterCard/Visa (local): 1.5% of transaction amount (subject to a maximum of N2,000)

Interswitch Verve (local): 1.5% of transaction amount (subject to a maximum of N2,000

MasterCard/Visa (International): 3% of transaction amount; no cap

International Gateway Monthly Charge: N5,000


PAYSTACK


Paystack is one of the most popular payment gateways at the moment. it was founded by Shola Akinlade and Ezra Olubi who are both graduates of Babcock University.

It allows merchants to accept debit and credit card payments online from their customers. It is an easy and reliable way to accept payments across multiple channels, use payment pages to run online campaigns for your products and services without writing code, with an option to run your subscription business with ease.

As a Paystack merchant, you can payout money directly from your Paystack dashboard to any bank account in the country.

Pricing:

Setup Fee: Free

Commission per Transaction: Local Cards: 1.5% + NGN 100

International Cards: 3.9% + NGN 100

NGN 100 fee is waived for transactions less than NGN 2500

Other fee: NGN 10 – 50 depending upon amount

BVN Resolve API: NGN 10 per API call

BVN Match API: NGN 15 per API call

Payment Methods Accepted: Card, Bank account, Bank transfer, USSD, Visa QR, Mobile money, POS (coming soon)

Accepted Currency: GHS, NGN, USD

STK Stacks: PHP, Android, Nodejs, iOS, Java, Python, R, ReactJS, React Native, Ruby, VueJS, Xamarin, Yii, NativeScript, Groovy, Erlang, Flutter, Angular, Cordova


Interswitch


Interswitch is an Africa-focused integrated digital payments and commerce company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organisations on a timely and consistent basis. A web merchant can receive online payment from card holders via Interswitch, WebPay or WebPaydirect.

Furthermore, WebPAYDirect product allows for a feature called “split” which lets the customer specify multiple banks to receive the money collected, they also provide customers with real-time reports while WebPAY allows for settlement to one bank and one account only.

Pricing:

Setup Fee: NGN 150,000

Commission per Transaction: For transactions below N133,333, a fee of 1.5% applies, and N2,000 flat fee for transactions above N133,333

Accepted Currencies: Naira only

Payment Methods Accepted: Nigerian cards, Verve, MasterCard and Visa

SDK Stacks: JavaScript, iOS, Android


CashEnvoy


CashEnvoy is the only Nigerian Payment Aggregator/Processor on Shopify. Also, the company has multiple security features on their gateway for theft.

Furthermore, Cashenvoy doesn’t charge for online different variants of cards – merchants can accept local and international – VISA, MASTERCARD, eTranzact and Interswitch cards. The company simplifies the setup process – by just receiving basic details and forms.

Pricing:

Setup Fee: Free

Commission Per Transaction:

Withdraw funds: NGN 120.00

(fee for withdrawals of NGN 4,000.00 or less)

Receive payments:

Local: 1.5% + NGN 25.00

International: 3.9% + NGN 12.60

Payment Method Account:

MasterCard, GTBank, interswitch, eTranzact, Visa, Verve, Suregifts, Flatterwave, Cashenvoy Wallet, Mobile money.


2Checkout


2Checkout is an America based company. It allows Nigerian and other International Merchants to receive payments from customers using their Visa, MasterCard, Discover, American Express, Diners Club, JCB, PIN debit cards and PayPal.

Pricing:

Setup Fee: Free

Commission Per Transaction: 3.9 % + $0.45 USD

1.5% cross-border fee

Payment Methods Accepted:

American Express, Visa, MasterCard, JCB, Neteller, PO, Skrill, Paypal, Bank Transfer, Interswirch Verva

Accepted Currencies:

All major currencies.

SDK Stacks: Java, Ruby, .net, C#, Python


PayU


PayU Readies to Compete With mPesa as it Launches in Kenya

PayU has a local operations that spans across 17 markets which are Asia, Central and Eastern Europe, Latin America, the Middle East and Africa

They accept Local and International MasterCard, Visa, Verve, as well as other alternative payment methods – Online electronic bank transfer (EFT) and offline. They are also being used by Facebook to collect payment in Naira.

Setup: It is free but their White-label package has a fee

Local Cards: not disclosed by them

International Cards: not disclosed by them.


Remita
[img]https://netstorage-legit.akamaized.net/images/vllkyt7nki3c742g7.jpg?imwidth=1200&impolicy=default-amp[/img]

What is Remita?

Remita by Oshadami Mike is a multi-channel funds collection platform that supports almost any types of biller organizations.

The Remita payment gateway can be used by e-commerce sites, insurance companies, educational institutions, utility companies, religious organizations, clubs, and associations etc. to collect various types of fees.

They are mostly used in the government sector to receive payment online.

A good example among this is the CAC Registration. They make use of Remita in processing their payments.

Pricing:

Setup: Free

Commission Per Transaction: Local – 2%

Foreign – 4%

Minimum – NGN 100

Maximum – NGN 2500

Payment Methods Accepted: Internet Banking, Debit/Credit Cards, Bank Branch, POS Terminals, Mobile Wallet, Cash Agents, mPOS, Direct Debit, Standing Order and Electronic Purse.

Accepted Currencies: Naira, USD

SDK Stacks: .Net, Java, Android, PHP, Python


AMPLIFY


Amplify is the smartest way to accept and manage recurring payments in Nigeria.

Features:

Unique Selling Points

World-class, bank-level security:

All transactions are processed via a PCIDSS compliant and 3D Secure payment gateway via an SSL encrypted channel

Get your money within 24 hours:

Payments made through Amplify will be in your company bank account within 1 day.

Card correction technology:

If there’s an issue with your customers’ card, Amplify will automatically retry until payment goes through, for up to 2 days.

Multiple payment options:

Accept payments in over 40 currencies from VISA, MasterCard, Verve, and American Express. Your customers will also be able to pay directly from their bank accounts.

Accept payments without needing a website:

You can accept payments without needing a coder. Create a simple form, send the link to your customer, and get paid.

Pricing:

Setup Fee: Free

Local Transactions: 1.5% + ₦20 (capped at ₦2,000)

International Transactions: 3.8% + ₦20.

Payment Methods: VISA, Mastercard, Verve, and American Express

Accepted Currencies: More than 40 currencies

SDK STACKS: JSOM


https://blog.investa.ng/top-payment-gateways-in-nigeria/

Why settle for less when you can have for?
Get up to 25% interest on your savings when you save with investa.ng
Visit https://investa.ng/ to find out more or chat with the admin with the link below
http:///2349014462443 for more details

It's always an argument that women have more money than they agreed to have(Watin you think)

But on a serious note, women are sometimes more disadvantaged than men when it comes to financing. Research shows that most women earn just 85% of what their male counterpart earns.

Women not only earn less than men, they also have more long term and overall health care expenses compared to men.
With all these challenges, there are still some strategies women can still implement daily to achieve their financial goals

Let's look at some of the strategies

1. Educate Yourself
Before discussing strategies to build a solid financial future, carve out some time to learn about money management and investment.
According to research, women are less comfortable making retirement investment decisions, and they show lower levels of financial literacy compared to men.

If you’re among those who don’t know how to manage her finance, you can begin to overcome some of your discomforts by educating yourself.
Read financial literacy books. articles and ask questions.

2. Set Financial Goals
When you set goals for every area of your finances, you give yourself specific targets to work toward.
This is important as it allows you to track your progress and know how to achieve your target.

It’s important to have both short-term and long-term financial goals. Short-term goals are goals you can achieve within one year and that give you something to look forward to, short term goals like a holiday, buying a new gadget or a family weekend getaway.
Long-term goals, like saving for retirement or saving to start a business or building a house, all require more effort, and could take several years to achieve.

3. Create a Budget

Make a budget and stick to it. The first step is to write down your monthly income and your expenses. Break your expenses down into “needs” like housing and food, and “wants” like cable, data, Netflix subscriptions and eating out.
Next, deduct your monthly expenses from how much you make. If you don’t have any money left, or you don’t have enough for your savings goals, see if you can cut back part of your expenses or find ways to increase your income.
The thought of following a budget may seem difficult, but doing this can help ensure you meet your financial goals on time.
Budgets also help you to prioritize your monthly expenses by placing your needs before your wants so you won’t run out of money each month and incur unnecessary debt.

4. Save first and spend later

Save first and spend later principle is very important if you want to achieve financial success as a woman.
Knowing that it is important to save a certain percentage of your income before paying for any present expenses is so woke and one of the surest ways to financial freedom.
You can decide to save with a commercial bank, an online savings platform or buy a piggy box to enable you to save at home, whatever works for you.

5. Save for rainy day

Putting money aside for unexpected costs and emergencies improves your ability to withstand unexpected financial expenses and gives you peace of mind all the time.

We might not know exactly what unexpected costs we will face in the future, but we can be sure that we have money set aside for it.
A "rainy day" fund is a pool of money that we can use to pay for expenses when unexpected events occur.
Putting aside money regularly, even a small amount, will help you to build up your ‘rainy day' fund over time.

In conclusion, if you have been mismanaging your money as a woman, it is not too late to start getting your finances on the right track.
Women are naturally great at managing things when they want to, so all you need to do is follow the same logic to money.
It is not about hoarding cash or depriving yourself of buying things you love, but it is about understanding that there is an advantage in delayed gratification.

Statistics show that people with mental health issues are three and a half times more likely to be in debt
than people without mental health issues

72% of respondent said their mental health made their financial situation worst.

So what does this mean?

It simply means, there is a direct relationship between your mental health and how poor or rich you become.

So how do maintain sound financial and mental health?
Before I go ahead to tell you,

What is mental health?

Mental health is a state of well-being in which an individual realizes his/her ability,
can cope with the normal stress of life, work productively and can make a positive contribution to his/her community.

The key takeaway from the definition is the ability to understand your ability,
cope with normal life stress and work productively.

Mental health issues can cause changes in your emotions, thinking, behaviour and decision making (Sometimes a combination of these).

When it comes to mental health and finance, it might be difficult to determine which comes first,
Whether its mental health that causes a financial problem or
financial problem affects mental health, but one thing is certain,
there is a direct relationship between your mental health and your bank account (finance).

One key point is that, if you have sufficient money for your needs, then that’s one less thing to worry or stress about.

When you are stressed. It affects your mental health.
It can cause problems like poor sleep, poor decision making, and low productivity.
All of which can lead to anxiety and depression.

Mental health issues can also lead to poor financial decisions like overspending, impulsive buying, debt, loss of money and so much more.

If you are having trouble with your finance and mental health, just know you are not alone and it’s normal.

There certain steps you can take to keep your finance and mental health in check

Below are a few things to do to help you maintain healthy financial and mental stability.

1. Make a budget and stick with it: Making a budget helps you to plan your money so you don’t overspend and end up in debt.
2. Learn to say NO: This is important, you need to but only what you need.
3. Have an Emergency fund: As the name signifies, emergency funds should only be spent for emergency or urgent needs.
4. Use [url]investa.ng[/url]: [url]investa.ng[/url] is a savings and investment platform that gives you a seamless means to save and invest your fund while you get up to 25% interest and return on your savings and investment. Aside from the savings and investment, you are also eligible to get a quick loan whenever you need a loan for your urgent personal or business purpose. You can visit the website www.investa.ng to find out more.

Take both your finance and mental health seriously. So you can live your life to the fullest.

With the current ban on cryptocurrency trading with your bank account, many internet fraudsters will like to take advantage of the situation.
Below we discussed how to protect your money online from scammers.

https://investanigeria.medium.com/cybersecurity-how-to-protect-your-money-online-from-scammers-e1e688771507