• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate Updates

ALAT Simplifies Payments and Collections with new NQR Feature

NM Partners by NM Partners
August 31, 2022
in Corporate Updates
ALAT Simplifies Payments and Collections with new NQR Feature
Share on FacebookShare on TwitterShare on Linkedin

RelatedStories

QRcode scam

Global QR code payments projected to exceed $8 trillion by 2029 as Nigeria revamps NQR 

February 12, 2025
Opay drives innovative security feature to secure user’s finances

Opay drives innovative security feature to secure user’s finances

July 22, 2024

ALAT, Nigeria’s leading digital banking platform has again raised the bar in service delivery by including a new quick response (QR)-code-based payments and collections solution to boost convenient and safe financial transactions.

The new feature on ALAT, known as NQR or quick response (QR), is a code-based payment and collections solution that provides fast, easy, secure, reliable, contactless and account-based options to receive and pay for goods and services.

Announcing the new feature in a press statement, the digital bank explained that merchants/business owners/individuals can display the QR Codes generated on ALAT to receive payments at their locations for goods and services.

“Payers/customers select the NQR option on their bank’s mobile application and scan the displayed NQR Codes to make payment to the merchant. Merchants/Business Owners and Payers get instant notification of payment made,” the bank explained.

The benefits of the NQR on ALAT include simplicity of use, easy setup, zero cost of acquisition, and a seamless merchant onboarding process. Other benefits are super-fast deployment, instant payment and settlement, and fast and secured payment.

On the level of transaction that can be done using the new feature, the bank said transaction limits are determined by the payer’s bank. However, the bank disclosed that transactions below N250 would attract 50 kobo, while those between N25 and N999.99 would be charged N1.

Transactions ranging between N1000 and N4,999.99 will attract N5, just as those between N5000 and above would pay the applicable fee of N25. The bank disclosed that the fees payable for the service as the lowest in the industry now.

On the security of the platform, the bank said, “NQR on ALAT is safe, as the exchange of information via the QR code ensures that any transmitted data on the technology is encrypted, thus making the payment secure.

“Also, NQR is built around the universal EMVCO Security Standards. In addition, payers are protected by a secret 4-digit PIN used to consummate transactions and known to only the payer,” the bank explained.

The bank enjoined its customers to set up NQR on ALAT by first updating ALAT to the latest version before login into the ALAT app as a payer. Then select payment, QR payment to scan a code directly or from their galleries.

Merchants and receivers are also to log in to the ALAT app and select payments, QR payment and then create merchant and sub-merchant display the QR code to receive payment.

Tags: AlatDigital BankingNQRQR Codes
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

Related Posts

QRcode scam
Sectors

Global QR code payments projected to exceed $8 trillion by 2029 as Nigeria revamps NQR 

February 12, 2025
Opay drives innovative security feature to secure user’s finances
Companies

Opay drives innovative security feature to secure user’s finances

July 22, 2024
Unity Bank customers win over N4 million in Cashtoken rewards promo
Business News

Unity Bank customers win over N4 million in Cashtoken rewards promo

July 20, 2024
virtual USD account
Financial Services

Five platforms offering virtual dollar accounts in Nigeria in 2024

July 15, 2024
Wema Bank, Moruf Oseni
Companies

Celebrating 79 years of impact: Wema Bank’s contributions to financial inclusion in Nigeria

May 3, 2024
QRcode scam
Sectors

Scammers now using QR codes for fraud, NITDA warns Nigerians 

March 31, 2024
Next Post
Union Bank to convene a Court Ordered Meeting for the acquisition of all minority shareholders by Titan Trust Bank, delist from NGX

Why shareholders agreed to sell Union Bank UK

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028
  • SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 
  • Lagos Govt suspends building permits along Lagos-Calabar Coastal Highway corridor  

Follow us on social media:

Recent News

CBN FORBEARANCE: New RENCAP report names banks facing dividend suspension till 2028

June 16, 2025
SEC warns Nigerians against investing in Risevest and Stecs  

SEC to launch ‘Crypto Smart, Nigeria Strong’ initiative for stablecoin regulation 

June 16, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics