IBEDC launches new electricity payment solution in Nigeria

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The Ibadan Electricity Distribution Company (IBEDC) has launched iRecharge, a new electricity payment solution that allows customers to pay bills through a simple bank transfer into a unique meter account number.

The Managing Director/Chief Executive Officer, IBEDC, Engr Kingsley Achife, in his speech at the launch of the platform on Thursday at the company’s head office in Ibadan, said the payment solution aligns with IBEDC’s commitment to excellent service delivery, which is at the heart of its operations.

He said, “iRecharge is more than just a payment aggregator platform; it is a testament to our dedication to providing convenient, efficient, and hassle-free payment solutions for our customers. This innovative platform aims to revolutionise how our customers interact with us, making their lives easier and more convenient.

“With i-Recharge, our customers can pay their bills with just one simple bank transfer because every meter has a permanent bank account number. This platform offers a seamless and user-friendly experience, allowing customers to recharge their accounts, pay bills and manage their electricity consumption with just a few taps on their mobile devices. It brings the power of technology to their fingertips, empowering them to take control of their energy usage and expenditures.

“The IBEDC and i-recharge teams have worked tirelessly to ensure that i-Recharge is not only user-friendly but also secure and reliable. We understand the importance of safeguarding our customers’ information and transactions. Therefore, we have implemented robust security measures to protect their data and privacy, providing them with peace of mind as they engage with the platform.”

In his remarks, the Managing Director iRecharge, Tomi Araromi, said the payment solution adopts simple, safe, convenient, and accessible means of paying bills.

Araromi said, “At iRecharge we have distilled through most of the challenges associated with electricity bill payments and have developed a patented ingenious solution that allows customers to pay their electricity bill with just one bank transfer to their meter’s bank account.

“With safety, convenience, and accessibility at the heart of our innovation, we have mapped bank account numbers to all prepaid meters and postpaid accounts. Payment made to this account number automatically triggers the provision of the service being used by the associated customer. Value provision and other notifications are sent via SMS and email.

“What this means is that your electricity meter now has its own account number and can receive payments just like you receive payments in your own bank account. Payments made to your meter’s unique and dedicated bank account number generate tokens in seconds or provide transaction receipts. This means you don’t have to expose your card details online or be internet savvy to purchase tokens.”

During a demonstration of the platform, the Head of Product Growth, iRecharge, Abubakar Mohammed, noted that customers with access to the internet can generate meter accounts through its website or WhatsApp and also make transfers to their meter’s account by using their banks’ online channels, such as internet banking and mobile apps, while those without internet access can use their bank’s USSD, any ATM, any POS or mobile money agent close to them.

The President of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), Victor Olojo, said with the long-standing relationship of the association with IBEDC and iRecharge as well as the spread of its members, the association is willing to collaborate with the companies to ensure seamless bill payments.