{"id":34653,"date":"2019-09-17T10:05:43","date_gmt":"2019-09-17T09:05:43","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=34653"},"modified":"2019-09-17T10:05:43","modified_gmt":"2019-09-17T09:05:43","slug":"ecobankpay-hits-n2bn-transactions-value-100000-merchants-onboarded","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ecobankpay-hits-n2bn-transactions-value-100000-merchants-onboarded\/","title":{"rendered":"EcobankPay Hits N2bn Transactions Value; 100,000 Merchants Onboarded"},"content":{"rendered":"

Ecobank Nigeria says over 100,000 merchants have been onboarded on the EcobankPay platform with transaction value reaching N2billion. EcobankPay offers customers a multi-channel payment experience that includes Mobile QR Payment at merchant stores (mCash, Masterpass and mVisa), \u00a0<\/b>Merchant QR is set up via Facebook Messenger as well as USSD\u00a0payment for low-income phone users. EcobankPay is used by all 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.<\/u><\/u><\/p>\n

EcobankPay\u2019s unique offering is such that all bank customers in Nigeria can pay with Masterpass, mVisa, and mCash with any phone by scanning the QR code or using USSD at merchant locations.\u00a0 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. Additional offerings include instant settlement of transaction with no transaction fees and it supports domestic and cross border transactions.<\/u><\/u><\/p>\n

<\/u>Announcing this <\/span>development\u00a0in Lagos, Carol Oyedeji, Executive Director, Commercial Banking, Ecobank Nigeria, said\u00a0<\/span>she was impressed with the level of acceptance of EcobankPay service by Nigerians. She reiterated that the digital product was introduced into the financial landscape to enhance payment and create ease and convenience of transactions. \u201cThe performance of EcobankPay underscores the choice of Ecobank in bringing digital payment solutions for safe, reliable and convenient transactions to both customers and non- customers of the bank.\u00a0The EcobankPay channel offers a distinct advantage of supporting the three main payment schemes, Masterpass, mVisa and mCash thereby broadening acceptability regardless of which Bank a client makes payment from.\u00a0 The QR Code is much cheaper than having a point of sale (PoS) terminal and credit to the merchant is instant,\u00a0she noted. \u00a0<\/u><\/u><\/p>\n

In his comment, Patrick Akinwuntan, Managing Director, Ecobank Nigeria said \u201cwe are determined to make Ecobankpay the choice for instant digital payment in Nigeria. This payment solutions was introduced by Ecobank to create payment convenience for goods and services and also to support the growth of businesses especially SMEs.<\/u><\/u><\/p>

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Further, he reiterated that \u201cEcobank is impressed with the significant progress made on EcobankPay transactions, as 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 risk of payment rejection. Ecobank has so far set up EcobankPay Zones in over 50 locations in different parts of the country. These are digital hubs enabling businesses within a location adopt Ecobank\u2019s wide range of digital products for ease of payments for goods and services. The payment options at the zones include EcobankPay, Xpress points, Automated Teller Machines (ATMS) and Point of Sale (PoS)\u201d. he noted.<\/u><\/u><\/p>\n

<\/u>The EcobankPay Zone launched in February 2019 is available at various markets across the country, notably the Alaba International markets, International Trade Fair, Balogun Market, Saka Tinubu Market in Lagos; Relief market Onitsha, Ariaria Market both in South East; Kofa Ruwa and Kantin Kwari Market in Kano; \u00a0Wuse and Dei-Dei Market Abuja ; Phone Village, Port Harcourt, New Benin Market in Edo State and Main Market Warri amongst several others.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ecobank Nigeria says over 100,000 merchants have been onboarded on the EcobankPay platform with transaction value reaching N2billion. EcobankPay offers customers a multi-channel payment experience that includes Mobile QR Payment at merchant stores (mCash, Masterpass and mVisa), \u00a0Merchant QR is set up via Facebook Messenger as well as USSD\u00a0payment for low-income phone users. EcobankPay is used by all 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.<\/p>\n","protected":false},"author":6,"featured_media":34654,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[5230],"coauthors":[2391],"class_list":["post-34653","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-ecobankpay"],"yoast_head":"\nEcobankPay Hits N2bn Transactions Value; 100,000 Merchants Onboarded - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/ecobankpay-hits-n2bn-transactions-value-100000-merchants-onboarded\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EcobankPay Hits N2bn Transactions Value; 100,000 Merchants Onboarded - National Wire\" \/>\n<meta property=\"og:description\" content=\"Ecobank Nigeria says over 100,000 merchants have been onboarded on the EcobankPay platform with transaction value reaching N2billion. 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