{"id":9721,"date":"2016-11-25T16:28:28","date_gmt":"2016-11-25T15:28:28","guid":{"rendered":"http:\/\/nationalwire.com.ng\/?p=9721"},"modified":"2016-11-25T16:37:35","modified_gmt":"2016-11-25T15:37:35","slug":"ecobank-corporate-and-investment-customers-forum-pix","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/ecobank-corporate-and-investment-customers-forum-pix\/","title":{"rendered":"Ecobank Collaborates With NIBSS On New Mobile Payment Solution mCash"},"content":{"rendered":"
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L-R; Chairman, Ecobank Nigeria, Mr. John Aboh; Group\/CEO, Ecobank Transnational Incorporated (ETI), Mr. Ade Ayeyemi; Hon.Minister of Finance, Mrs. Kemi Adeosun; Chairman, Ecobank Transnational Incorporated (ETI), Mr. Emmanuel Ikhazobor; and the Managing Director, Ecobank Nigeria, Mr. Charles Kie, at the Ecobank Corporate and Investment Customers Forum, held at Eko Hotel in Lagos, yesterday\u0085\u0085.<\/figcaption><\/figure>\n

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Ecobank Collaborates With NIBSS On New Mobile Payment Solution mCash<\/span><\/b><\/p>\n

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Ecobank has joined a collaboration between the Nigeria Interbank Settlement Scheme, NIBSS and the four major telecommunications operators, Etisalat, MTN, Airtel and Globacom, to offer a new and innovation mobile money payment solution, mCash. The new mobile payment solution enables easy payments using the mobile phone for account holders mobile money users. It facilitates low value retail payment and extends e-payment benefits to payers and merchants, mostly within the mass markets.<\/span><\/span><\/p>\n

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Deputy Managing Director, Ecobank Nigeria, Tony Okpanachi\u00a0<\/span><\/span>said the enlistment of Ecobank into the mCash platform is in line with its policy to provide seamless and innovative services to customers. He was optimistic that the payment system would further engender cashless payment strategy of the Central Bank of Nigeria (CBN) and stimulate commercial activities in the nation\u2019s economy.<\/span><\/p>\n

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Tunde Kuponiyi, Head, Consumer Distribution, Ecobank Nigeria said \u201cmCash is certainly the way to go. This will further bring into the banking sector micro payments in our society.\u00a0 Apart from reducing use of cash, it will also be quite beneficial to our teeming customers and the economy.\u201d He added that the Bank had recently introduced innovative e-payment services such as MasterPass QR into the financial landscape, explaining that it allows people to pay for services using mobile phones. \u201cIt also enables micro, small and medium enterprises (MSMEs) in Nigeria to receive digital payments from millions of customers.\u201d<\/span><\/span><\/p>\n

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In an earlier comment, the Managing Director\/Chief Executive Officer of NIBSS, Mr. Ade Shonubi had said \u201cthe whole intention of mCash is to broaden the opportunity for people who rely mostly on usage of cash to find convenient means of making payments electronically. The CBN has been pushing the cashless initiative for a long time and we have seen significant gains but a lot of people who have benefited so far have been the banking customers. And we need to deepen and reach out to a lot more people, as we begin to make real the dream for financial inclusion and as we begin to realise that a lot of government\u2019s social programme will touch a different set of people.\u201d<\/span><\/span><\/p>\n

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mCash utilises Unstructured Supplementary Service Data, (USSD) code in payment processing. Merchants can deploy mCash as a payment channel by registering with Ecobank, who will issue them an 8-digit seller code which buyers or payers need to use while making payments to them. A customer who wants to make payments through mCash, has to dial the universal code, *402*SellerCode*Amount#. Upon dialling the code, the name of the seller will appear and a list of banks a customer wishes to make payments from. The user can then select Ecobank and input Ecobank Mobile PIN to authenticate and complete the transaction. Upon completion of the transaction, both the buyer and the seller will receive cash confirmation of debit and credit messages instantly. Only mobile numbers linked to a user\u2019s BVN are allowed for mCash transactions.<\/span><\/span><\/p>\n

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  Ecobank Collaborates With NIBSS On New Mobile Payment Solution mCash \u00a0 Ecobank has joined a collaboration between the Nigeria Interbank Settlement Scheme, NIBSS and the four major telecommunications operators, Etisalat, MTN, Airtel and Globacom, to offer a new and innovation mobile money payment solution, mCash. The new mobile payment solution enables easy payments using …<\/p>\n","protected":false},"author":11,"featured_media":9722,"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":[23,549,17,624],"tags":[814,1178,631],"coauthors":[2392,2393],"class_list":["post-9721","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-gallery","category-news","category-politics","tag-ecobank","tag-eti","tag-kemi-adeosun"],"yoast_head":"\nEcobank Collaborates With NIBSS On New Mobile Payment Solution mCash - 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\/ecobank-corporate-and-investment-customers-forum-pix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ecobank Collaborates With NIBSS On New Mobile Payment Solution mCash - National Wire\" \/>\n<meta property=\"og:description\" content=\"  Ecobank Collaborates With NIBSS On New Mobile Payment Solution mCash \u00a0 Ecobank has joined a collaboration between the Nigeria Interbank Settlement Scheme, NIBSS and the four major telecommunications operators, Etisalat, MTN, Airtel and Globacom, to offer a new and innovation mobile money payment solution, mCash. The new mobile payment solution enables easy payments using …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/ecobank-corporate-and-investment-customers-forum-pix\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-25T15:28:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-11-25T15:37:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/11\/ECOBANK-NIGERIA-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1050\" \/>\n\t<meta property=\"og:image:height\" content=\"650\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/ecobank-corporate-and-investment-customers-forum-pix\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/11\/ECOBANK-NIGERIA-2.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/11\/ECOBANK-NIGERIA-2.jpg\",\"width\":1050,\"height\":650,\"caption\":\"L-R; Chairman, Ecobank Nigeria, Mr. John Aboh; Group\/CEO, Ecobank Transnational Incorporated (ETI), Mr. Ade Ayeyemi; Hon.Minister of Finance, Mrs. Kemi Adeosun; Chairman, Ecobank Transnational Incorporated (ETI), Mr. Emmanuel Ikhazobor; and the Managing Director, Ecobank Nigeria, Mr. Charles Kie, at the Ecobank Corporate and Investment Customers Forum, held at Eko Hotel in Lagos, yesterday\u0085\u0085. 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