Option One: You can join the long queue at a bank to get an account number for your business; make photocopies to submit; then, wait for days to get the account created. Don’t forget the bank charges that come with your corporate account? Option Two: Create an account on 1app.ng/start and get an instant business account number in less than three minutes. You choose.
One of 1app’s goals is to make payments easier. After the beta launch of its B2B platform, 1app Business, in December, the startup has from time to time released more features for the product. Just this week, 1app announced its instant business account number feature that lets a business get an account number in three minutes or less.
Nigerian fintech companies have been breaking ground with new innovations that make life easier. Just like 1app’s popular tagline, #easylifeishere, the new business account number feature was created to help business owners. Apart from getting an account number instantly, there is also the advantage of close to zero bank charges.
Here are some of the benefits of using the new 1app Business instant account number feature:
Account Creation Timeline: While it will take a few days to successfully get a business account number with a bank, it takes three minutes or less with 1app Business. However, during registration, you’re required to provide your business details; these include your business name and address. You’re advised to provide your CAC number and documents as well. If you do not, you still get your business account number and can receive payments instantly.
Bank Charges: Starting from the search fee to the token fee and the required COT (Commission on Turnover) for business accounts that transact regularly, we all would agree that businesses pay banks a huge sum for the accounts. Let’s not forget the charges for bank transfers made from these accounts. With 1app, you get five free transfers monthly, after which you pay N20 flat for all transfers. And that’s the only time 1app Business will charge you. No hidden charges, no COT and no search fee.
Payments Confirmation: A lot of businesses owners have people in charge of accepting payments for them. Even in big stores and pharmacists with many branches, the salespersons still make calls to business owners or whoever is in charge of finances to confirm payments have been made. With 1app Business, business owners can add their salesperson to their business team. With the mobile app, such a salesperson can confirm the payment has been made without having access to other account details of the business.
According to the MD/CEO of 1app, Opeyemi Paul, 1app’s vision is to be a bridge of endpoints – a bridge that connects people and services without having to use more than one application. 1app Business also provides you with a unique payment link, QR code, plugins and API calls that come with a payment gateway aggregator. The aggregator system helps reduce drop off rates and provides free marketing to boost sales.
Visit 1app.ng/start to register for free or download the android app here. You can send feedback to the team via email at email@example.com. 1app is giving businesses a safe, reliable and accountable method to accept payments with ease.