Stanbic IBTC Bank has no deal with Tingo Pay in respect of payment -Management

Admin l Saturday, April 03, 2021

 

LAGOS, Nigeria – Management of Stanbic IBTC Bank says it has not entered into any deal with Tingo International Holdings to use its payment system to power its new product, Tingo Pay.

In a statement, the bank  noted that while it has Memorandum of Understanding with Tingo International Holdings on a possible partnership arrangement, it has not concluded any agreement with Tingo International in respect of any payment including Tingo Pay.

“We must state categorically that Stanbic IBTC Bank PLC (“the Bank”) has NOT concluded any agreement with Tingo International in respect of any payment system whatsoever, including “Tingo Pay”, the bank said.

It added  that in the event that such an agreement with Tingo International is finalised at any time in the future, then the Bank will issue an appropriate Press Release at that time.