E-payment as basis for leadership in banking

E-payment as basis for leadership in banking

There is no doubt that electronic payments have become acceptable platform for banking transactions by customers and this has resulted in various means being adopted by some banks to beat competition.

As the electronic payment system continues to gain currency deposit money banks are aggressively restrategising to own larger share of the market.

Consequently, Ecobank Nigeria is confident that its wide transformation efforts especially electronic payment solutions and strategy designed to boost long-term productivity of its core businesses will position it for strong over the next years.

The bank recently launched Mobile App and Masterpass QR. The Ecobank Mobile App uniquely leverages the power of digital to deliver real convenience to customers. It gives Ecobank the scale and capacity to achieve its 100 million customer ambition in a profitable and sustainable way. With a mere click or two on the Ecobank Mobile App, customers can open a new digital account with no paper references.

Charles Kie, managing director, has said the bank is on the path of attaining market leadership in the country.

According to him, “with our bank wide transformation efforts especially electronic payment solutions and strategy designed to boost long-term productivity of our core businesses, we are confident these efforts growth will position us for strong over the next years.

Ecobank is also the first bank to issue Masterpass QR in Nigeria, which reaffirms its undisputed pioneer position in bringing convenient international digital payments products to delight its customers as the bank is also the first to issue International MasterCard payment cards in Nigeria.

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.

Addressing members of the public during market storm in different parts of Lagos recently, Tunde Kuponiyi, head, consumer distribution, Ecobank Nigeria, said the sensitization exercise which was held in different parts of the country, is to create awareness amongst members of the public on the benefits inherent in the global digital payment platform, stressing that, the technology makes electronic payments safe, simple and smart.

According to him, the new digital platform is also in line with Central Bank of Nigeria (CBN)’s cashless policy and financial inclusion goals, adding that, with it would attract the unbanked to the financial landscape.

“I am impressed with the level of acceptance of this digital payment system since it was launched in October.  Merchants in different parts of the country have already started using it. This product will bring more people to the banking system and also revolutionize the nation’s economy within the shortest possible time,” he said.

Kuponyi further explained that customers will also be able to pay for goods and services using Ecobank Masterpass QR thereby reducing the need to carry cash or bank cards, noting that, the Bank will use its unrivalled network to give customers access to more choice with a larger range of products and services than any other bank across Africa.

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