Skip to main content

Ecobank Nigeria launches MasterPass QR

By Daniels Ekugo

Charles Kie, Ecobank Managing Director

Charles Kie, Ecobank Managing Director

Ecobank Nigeria has launched Ecobank MasterPass QR, a Mastercard global digital system that allows people to pay for services using mobile phones. The new platform will also enable micro, small and medium enterprises (MSMEs) in Nigeria to receive digital payments from millions of customers.

Ecobank Masterpass QR, makes electronic payments safe, simple and smart. It improves customer experience with a clean front-end design and a built-in sophisticated and secure supporting technology.

Payments are made by customers scanning a Quick Response code displayed at checkouts on their smartphones, or by entering a merchant identifier into their feature phones.

Ecobank Nigeria’s Managing Director, Charles Kie said, “The Ecobank Masterpass QR solution leverages smart technology that transforms mobile phones into safe and simple payment tools, and delivers services that will benefit all stakeholders in the payments ecosystem.

This new digital platform supports the Central Bank of Nigeria’s Cashless Nigeria and financial inclusion goals. Ecobank Masterpass QR will help our vital MSME sector connect more efficiently to the national and global economy.”

About 96 per cent of Nigerian businesses are MSMEs. Despite the major part they play in the nation’s economy, about 98% of MSMEs still do their transactions using cash.

“Ecobank is the first to issue Masterpass in Nigeria, which reaffirms our undisputed pioneer position in bringing convenient international digital payments products to delight our customers as we were also the first to issue International MasterCard payment cards in Nigeria, ” said Patrick Akinwuntan, Ecobank Group Executive Consumer Banking.

Tony Okpanachi,Deputy Managing Director, Ecobank Nigeria and Head, Consumer Banking, said, “We are pleased to launch Ecobank Masterpass QR in Nigeria. Ecobank Masterpass QR, will allow small and medium enterprises the freedom to grow their businesses by giving them a convenient and secure way of receiving funds. This technology allows this business segment to seamlessly leapfrog into the digital age.”

Some merchants in Lagos have already started using Masterpass QR. More merchants across the country are expected to sign up. Ecobank customers will also be able to pay for goods and services using Ecobank Masterpass QR. This will reduce the need to carry cash or bank cards.

Ecobank uses its unrivalled network to give customers access to more choice – with a larger range of products and services than any other bank across Africa.

Ecobank Group also recently launched “Move on Up”, a new fully-integrated consumer advertising campaign. Move on Up showcases Ecobank’s widest ever range of banking solutions and the many ways the bank helps consumers every day.

Labels:

Comments

Post a Comment

Popular posts from this blog

Court grants Fani-Kayode N50m bail

Fani-kayode sandwiched by EFCC officials Justice James Tsoho of the Federal High Court Abuja on Thursday granted a N50m bail to former spokesman of the Goodluck Jonathan Campaign Organisation, Chief Femi Fani-Kayode. Fani-Kayode was arraigned by the Economic and Financial Crimes Commission (EFCC) on a five-count charge of money laundering to the tune of N26m. Fani-Kayode is the sole defendant in the fresh charges numbered, FHC/ABJ/CR/140/2016. The EFCC accused the defendant of diverting 26 million Naira allegedly received from the ONSA while Sambo Dasuki was in office. The anti-graft agency also accused him of handling the said N26 million without going through financial institution as required under the Money Laundering Act. The embattled former minister is already facing 17-count charge of money laundering before the Lagos Division of the court, along with a former Finance Minister; Nenadi Usman, Danjuma Yusuf and a firm; Joint Trust Dimension Nigeria Limited. They were charg...
Post a Comment
Read more

Houthis Claim Attack on Central Israel in Response to Gaza ‘Massacres’

The ongoing conflict between Israel and Hamas has taken a concerning regional turn as the Houthi rebels in Yemen claimed responsibility for an attack on central Israel. The group announced this as part of their escalating response to what they describe as "massacres" in Gaza amid the Israeli military’s operations in the strip. Details of the Attack The Houthis, a Shiite militant group with ties to Iran, declared that they launched missile and drone strikes targeting Israel. While the exact impact of these attacks remains unclear, reports suggest that Israel’s defense systems intercepted several threats over its airspace. This marks a significant escalation as the Houthis widen their involvement in the conflict beyond their typical operations within Yemen and neighboring Saudi Arabia. The Houthis’ Justification In their statement, the Houthis framed the attack as retaliation for Israel’s military actions in Gaza, which they characterized as indiscriminate bombings resultin...
Post a Comment
Read more

Fire: UniJos Senate convenes emergency meeting on Monday

Fire at the University of Jos Library University of Jos is to convene an emergency senate meeting on Monday to review the level of damage done to the institution by the Saturday night inferno. The Vice Chancellor, Prof. Sebastian Maimako, disclosed this on Sunday after inspecting areas affected by the incident. The fire, which lasted for more than six hours, destroyed the Library Complex that equally houses the faculties of management and social sciences. The fire also destroyed examination scripts, books and very crucial materials. Consequently, the vice-chancellor said “the Senate will meet tomorrow (Monday) to take a decision about the unmarked examination scripts that were burnt.” On the cause of the inferno, Maimako said investigation had commenced, adding that “nothing has been confirmed yet. We are still investigating.” The vice chancellor said the school was already working with federal authorities toward establishing a main fire station since the mini fire station in t...
Post a Comment
Read more