The Nation Newspaper

Tag: EcobankPay

  • EcobankPay hits N1b transactions

    EcobankPay, the lifestyle digital payments and collections service of Ecobank Nigeria, has recorded transactions worth over N1 billion.

    EcobankPay offers customers a multi-channel payment experience, including: Mobile QR Payment at merchant stores (mCash, Masterpass and mVisa).  Merchant QR is set up via Facebook Messenger as well as USSD payment for low-income phone users.

    EcobankPay is used by businesses from small, informal micro merchants to large corporates as well as governments. It enables them to offer easy and convenient payment options to their customers in-store or online.

    EcobankPay’s unique offering is such that bank customers can pay with Masterpass, mVisa, and mCash with any phone by scanning the QR code or using USSD at merchant locations.  It 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 is available at over 90,000 multiple merchant locations across the country, additional offerings include instant settlement of transaction with no transaction fees and it supports domestic and cross border transactions.

    Announcing this in Lagos, Carol Oyedeji, Executive Director, Commercial Banking, Ecobank Nigeria, said the performance of EcobankPay underscores the choice of the bank in bringing digital payment solutions for safe, reliable and convenient transactions to customers and non-customers of the bank.

    She added that the channel offers a distinct advantage of supporting the three main schemes: Masterpass, mVisa and mCash thereby broadening acceptability regardless of which bank a client makes payment from. The QR Code is much cheaper than having a point of sale (PoS) terminal and credit to the merchant is instant, she noted.

    Managing Director, Ecobank Nigeria, Patrick Akinwuntan said: ‘’We are placing Ecobankpay as the choice for instant digital payment in every part of the country.’’ He noted that the innovative payment solutions was introduced by the bank to create payment convenience for good and services and also to support the growth of  businesses, including small and medium scale enterprises (SMEs).

    “We are impressed with the significant progress made so far on EcobankPay transactions. It is gradually becoming a lifestyle payment for all. The initiative is to deepen financial inclusion in the communities and specifically aid business transactions between merchants and clients by eliminating risks of payment rejection. It also delivers instant value and sales, transparency for merchants and all customers,” he said.

  • EcobankPay attracts forex, deepens e-payment

    EcobankPay, the lifestyle digital payments and collections service of Ecobank Nigeria will be attracting foreign exchange (forex) inflows with its partnership with Terra Kulture.

    Speaking during the signing of a Memorandum of Understanding (MoU) between both firms, in Lagos, the bank’s Managing Director, Patrick Akinwuntan, said with Ecobankpay, Nigerians and foreigners can pay for shows in  Terra Kulture seamlessly.

    He said the need to promote African culture and heritage, informed the lender’s relationship with Terra Kulture.

    “For us it’s not just about banking but also about the pride of the African. We know that unless we project ourselves, the world won’t project us. It is normal for us to look for great institutions like Bolanle Austen-Peters Productions promoting our culture with world class standard. So, when we had the opportunity of looking at what is being done here, it came naturally to us that we should work as partners to improve the quality of lifestyles of Nigerians”.

    Chief Executive Officer, Terra Kulture, Bolanle Austin-Peters explained that the partnership is a delight for the cultural brand which has suffered lack of corporate sponsorship since inception.

    According to her,  “This is exciting for us because what we do here is to promote Nigerian art and culture. We’ve done this as private initiative since 2004 and it has been like a lonely existence. In the past, people didn’t believe in what we do. Foreign culture dominated the scene. But things are beginning to shift. People are now appreciating our arts and culture.”

     

  • EcobankPay promotes African culture

    EcobankPay, the lifestyle digital payment and collections service of Ecobank Nigeria, has entered into a partnership with TerraKulture, Nigeria’s foremost stage play and cultural show promoters with Bolanle-Austen Peters as lead.

    Through this partnership, Ecobank intends to support the promotion of African arts and culture starting from April 2019. For each festive season, there will be a theatrical production – April coinciding with the Easter celebrations; October season to correspond with the nation’s independence anniversary and December season end of year festivities.

    Commenting on the partnership, Managing Director, Ecobank Nigeria, Patrick Akinwuntan said it is one of the several initiatives by the pan African Bank to boost culture, history and the entertainment industry in Nigeria. He noted that the partnership would create jobs, further re-ignite and engender interest in watching stage plays and derive learning points from history and rich culture that will be showcased through the shows.

    According to him, “as the Pan-African bank, Ecobank is pleased to partner with a renowned African culture promoter – TerraKulture to achieve our collective vision of promoting indigenous African plays to reinforce knowledge of and also celebrate our history, culture and values.

     

     

     

  • EcobankPay shoppers get Easter promo discount

    Ecobank Nigeria Limited has announced special discount for shoppers using the EcobankPay option to pay for their goods and services during the Easter holidays. It will run till the end of the month.

    EcobankPay is a digital QR code/Unstructured Supplementary Service Data (USSD) that enables payments using the mobile phone, without a debit/credit card.

    The bank said: “When you sign up, your EcobankPay QR is emailed to you, which you can print and post/stick it anywhere your customers can see it to easily scan and pay.

    ‘’When paid, you receive notifications and transactions can be viewed in merchant app or online and most, especially your account is credited immediately.Your customers can now pay you from anywhere in Nigeria and around the world, anytime. Your customers can use the Ecobank Mobile App or other bank’s mobile app to pay with MCash, MVisa and Masterpass.”

    Announcing the Easter promotion in Lagos, Executive Director Commercial Banking, Carol Oyedeji said shoppers were to get special discounts in shops in Lagos, Abuja, Port Harcourt, Benin, Warri, Aba and other cities across the country where the EcobankPay QR code is on display. Explaining the accessibility of the EcobankPay QR code, she noted that it accepts all three payment platforms available, be it MasterPass, MVisa and MCash.

    “Also, the discounts are available at all EcobankPay zones. If the person that wishes to buy goods from you is coming from a bank that has MVisa and decides to pay, the same QRcode would accept MVisa payment and vice versa. This creates synergy between us and the other banks and convenience for the merchants. And as you know, the QR code is much cheaper than having a point of sale (PoS) and your account is credited immediately,” she stated.

    For the merchants she said: “the beauty of the EcobankPay, is in the cost of set up, as the shop owner simply print the QR code on a paper and can stick it anywhere and do not face any risk. It is convenient and the mobile app allows the ubiquity.  It allows you 24/7 access. We cannot over emphasis the instant credit.”

    Recently, Ecobank  launched several EcobankPay zones in various markets across the country. The zones are digital payment hubs enabling businesses within a location adopt Ecobank’s wide range of digital products for ease of payments for goods and services. It provides the opportunity for  buyers and sellers to increase their sales in an enhanced and secured way.

    The EcobankPay digital hub/markets  makes it easy for the seller to be paid instantly while buyers pay with ease and also have peace of mind associated with doing business without carrying cash around.

    Also available at the payment zones is the Xpresspoint, which allows customers do their banking within their neighbourhood and non-customer open accounts on the go on their phones.