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.