Ecobank Nigeria in its avowed commitment to deepen financial
inclusion has launched an Ecobankpay zone at the Amu market, Mushin Lagos.
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan
who launched the digital payment zone explained that the EcobankPay zones in
various market clusters across the country is to facilitate easy, secure and
convenient transactions in the market place, adding that it will boost business
activities in the country.
Mr. Akinwuntan said customers and non-customers of the
bank who patronize the market will now have quick access to the bank’s digital
payment offerings, stressing that it would remove the trauma associated with
delays in paying for goods in the market.
According to him, EcobankPay’s unique offering is that
anyone from any bank in Nigeria can pay with MasterPass, mVISA and mCASH with
any phone by scanning QR code or using USSD. “If the person that wishes to buy
goods is coming from a bank that has MVisa and wishes to pay, the same QR Code
would accept MVisa payment and vice versa. That creates interoperability and
convenience for the merchants. The QR Code is much cheaper than having a point
of sale (PoS).” he noted.
“Traders can now enjoy more possibilities to grow their
business as they can also sell to customers with EcobankPay in 32 countries in
Africa. EcobankPay is free to set up as the shop owner only needs his/her QR
code and phone for notifications to start receiving quick and easy payments.
EcobankPay, a special merchant QR Code product of the Pan African Bank, enables
customers make seamless payment for goods and services across the three major
payment platforms without the use of plastic cards.”
For the merchants the beauty of the EcobankPay is in the
cost of setting up, as the shop owner simply prints the QR Code on a paper and
can stick it anywhere and do not run any risks.
It would be recalled that EcobankPay Zone was first launched
in Alaba International market in February this year.
Sahara Weekly
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