A multi-featured digital payment solution, Ecobank Pay, is now available
from Ecobank Nigeria. Ecobank Pay is built as a core part of Ecobank’s digital financial services
ecosystem approach and will deliver unified and instant self-service across a range of
interconnected payment solutions. It can be used by all businesses from small informal micro
merchants to large corporates as well as governments, allowing them to offer easy and
convenient payment options to their customers in-store or online.
Ecobank Pay includes a rebrand of the Ecobank Scan+Pay QR offering, which allows customers
to pay in-store via the Ecobank mobile app. Merchants can now also speedily sign-up for their
QR merchant code via the Masterpass QR for Merchant functionality on Facebook Messenger.
As the Ecobank Pay ecosystem expands it will unify all of Ecobank’s digital payment offerings
for internet payments, eCommerce, paying bills via mobile and airtime top via mobile.
The Ecobank Pay QR offering, or Unstructured Supplementary Service Data (USSD), will
continue to allow customers of any bank in Nigeria or beyond, to make payments for goods and
services, using their mobile banking app to Scan+Pay with MasterPass, Visa or mCash as the
means of payment.
mCash allows merchants to receive payments from their customers on one single Merchant
Terminal ID for both Scan+Pay and USSD through the Nigeria Inter-Bank Settlement System
(NIBSS) mCash service by dialing *402#.
For both Ecobank Pay Scan+Pay (via MasterPass and Visa) as well as USSD, merchants will
receive instant credit on their account with Ecobank. This digital payment solution is targeted at
small informal micro merchants, registered small and medium size merchant businesses,
corporate and institutional merchants operating in-store or online, as well utilising the social
media platform of Facebook Messenger to sign up for QR technology.
“Ecobank is committed to simplifying doing business for the people it serves, and Ecobank Pay
is a payment solution channel that will make payments easier, faster, convenient and more
secure,” commented Charles Kie, Managing Director, Ecobank Nigeria.
“As an enhanced payment platform, it will make business cash flow easier to manage and will
help to grow sales as it accepts payment from any mobile phone user at anytime and anywhere,
whilst improving both convenience and the client experience. It has no initial transaction