Remita Payment Systems: All You Need To Know

Remita is a comprehensive online payment and collections solution on a single multi-bank platform. It is the preferred payment gateway adopted by the Federal Government for its Treasury Single Account (TSA) policy. The platform has significantly assisted in revolutionising the e-payment industry in Nigeria was adopted by the Nigeria CBN for the payment and funds collection on behalf of the Federal Government of Nigeria.

With the Remita payment system, individuals and organisations like Corporate organisations, Multinationals, State Governments, Government Agencies, Non-Governmental Organisations, Religious Organisations, Resident Associations, Schools & Educational Institutions, Hospitals & Health Institutions, Utility Companies etc, can receive and make payments easily across all banks.

In order to avoid strenuous processes, one can simply pay for School fees, licenses renewal, PHCN bills, FIRS annual Tax fees, Corporate Affairs Commission and NYSC fees etc.

Here, are some facts you need to know about the e-payment gateway that has gained global recognition in the financial technology industry.

• It is an e-payment and e-collections platform developed by a Nigerian Fin-Tech company SystemSpecs founded by John Obaro.
• It is the payment gateway for Federal Government funds generated from levies, taxes and tariffs.
• It is a payment gateway that facilitates the remittance of funds into the TSA and NOT the Treasury Single Account (TSA) which is the depository for all the funds generated by MDAs as taxes, levies, tariffs, etc.
• There is a one percent transaction charged fee on all transactions via Federal Government’s Treasury Single Account which is shared among Remita, banks, the Central Bank of Nigeria and other payment operators involved.
• Remita is government approved since it is used by the Federal Government, corporates and high-net-worth individuals to process financial transactions.
• It is a secure platform with advanced security features such as a combination of hard token, soft token, biometric token and proprietary authentication protocols.
• It helps you receive and make payments easily with ZERO activation fee.
• With the Remita payment platform, you can pay your taxes, levies and tariffs directly to the government without fear of missing deadlines which often attract surcharges.
• Customers can pay you through a wide range of channels like your website, Internet Banking, Mobile Wallet, POS, or from ANY bank branch in Nigeria.
• The platform, also has HR and payroll functions which help businesses maintain a comprehensive, online employee personnel and payroll data.

 

Reasons to use Remita

• Remita Payment platform is beyond Online Banking.
• With this platform, an individual can sign into a SINGLE platform for access to all his bank accounts at once.
• It will enable you to view balances of all your multiple bank accounts on a SINGLE screen.
• With Remita platform, you don’t need multiple tokens.
• It enables you to make payments from multiple accounts, and across multiple banks, in the same transaction.
• It enables you make payments to any Commercial Bank, Microfinance Bank and Digital Wallets.
• You can define online payment review and approval workflow to suit.
• The platform, enables you to toggle between the profiles of all your companies, subsidiaries, associations, your personal accounts and more.
• Remita payment platform gives you comprehensive transactions reports.
• The platform has a Role-Based system access and Amount-Based Security.

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How to use Remita to make an online payment

• Visit their website www.remita.net and click on “Pay A Federal Government Agency” button.
• Beneficiary’s Name: Type in [Name of MDA] in the first space that has been provided. i.e, the name of the institution you are paying the money to.
• Name of Service/Purpose: Select the name of service or state the purpose of payment provided in the drop-down list.
• Description: Describe exactly what you are paying for. This should be by typing. e.g, I want to pay for Licenses renewal.
• Amount to Pay (₦):Type in the amount you want to pay.
• Payer’s Full Name: Type in your full name.
• Payer’s Email: Type in your email address.
• Payer’s Phone: Type in your phone number.
• Complete the Security Captcha: You are expected to enter the key characters you see in the image into the box.
• Click on the “Proceed to Payment” button.

Generating a Remita Retrieval Reference (RRR)

Once you’re done making your payment, you will be auto redirected to the RRR Invoice Page to generate your RRR. From the page, you will see your RRR Code which is a unique code given to you based on the completion of the above steps. It is given to you for the transaction. The RRR Invoice page is where you will see many options to make payments.

Payment Methods

• Internet Banking: To make payments via the internet banking system, all you need is transfer the funds directly from your account to the beneficiary account via the Remita powered transfer. On the “Pay with Internet banking” column, bank icons that support internet banking on Remita platform are shown. Click on your bank’s name and proceed to payment.
• Cards or Wallets: To make payments with your ATM Cards online, click on your preferred card (MasterCard, Visa, Verve). You can also make a payment via e-Wallet services such as PocketMoni.
• Bank Branch: To make payment at any bank’s branch, you simply need to print the transaction receipt or copy the RRR code, take it to your bank and pay the required amount.