The Federal Competition and Consumer Protection Commission (FCCPC) has called on banks to establish a service level agreement with other service providers to reduce financial technology-related challenges faced by customers.<\/p>\n\n\n\n
Mr Babatunde Irukera, FCCPC Executive Vice Chairman, who made the call in Abuja on Tuesday, said the Commission was currently insisting on the agreement.<\/p>\n\n\n\n
\u201dI personally have a problem with banks literally leaving everything to customers to establish when something goes wrong. We are working and it is part of the guidance documents that we will work on.<\/p>\n\n\n\n
\u201dSomebody wants to pay for something maybe an air ticket and the ticket is not issued because they say you didn\u2019t make the payment, you have lost the ticket and the fare.<\/p>\n\n\n\n
\u201dIn reality, the person did everything to pay and it showed that the fellow paid but the money was not remitted.<\/p>\n\n\n\n
\u201dAnother instance is where DSTv says that you didn\u2019t pay but your account is showing that you paid.<\/p>\n\n\n\n
\u201dConsumers don\u2019t choose the payment system that they desire. They go to their bank and the service provider chooses where they want their payment.<\/p>\n\n\n\n
\u201dIn that ecosystem, they must have their service level agreement on how they do their reconciliations.<\/p>\n\n\n\n
\u201dThat is the service level agreement that we are insisting must exist within the ecosystem,\u201d he said.<\/p>\n\n\n\n
He called for improved partnership with the media to promote consumer rights in the country.<\/p>\n\n\n
\n <\/div>\n","protected":false},"excerpt":{"rendered":"
The Federal Competition and Consumer Protection Commission (FCCPC) has called on banks to establish a service level agreement with other service providers to reduce financial technology-related challenges faced by customers. Mr Babatunde Irukera, FCCPC Executive Vice Chairman, who made the call in Abuja on Tuesday, said the Commission was currently insisting on the agreement. \u201dI […]<\/p>\n","protected":false},"author":2,"featured_media":15653,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[461],"tags":[673],"class_list":["post-41559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology-ict","tag-fintech","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n
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