Ecobank Nigeria has launched its digital product, EcobankPay Zone at the popular Ariaria Market in Aba, Abia state.
Speaking at the launch, the Managing Director of Ecobank Nigeria, Patrick Akinwuntan, said the bank’s PayZone will facilitate easy, secure and convenient transactions for merchants within Ariaria and other markets in the state.
“It is our determination to create ease of payment and boost economic activities most especially in a town like Aba, renowned for indigenous production of shoes and textiles.
“Our digital offering will be an opportunity for both buyers and sellers to increase their sales in an enhanced and secured way and without fear.
“The EcobankPay digital hub makes it easy for the seller to be paid instantly and buyers pay with ease and also have rest of mind associated with doing business without carrying cash around.
“Our Xpress point is also around for you to transact with ease, in as much as you have your phone you can bank with Ecobank.
“The initiative of the Ecobankpay zone is to deepen financial inclusion in the communities and specifically aid business transactions between merchants and clients.
“EcobankPay’s unique offering is that anyone from any bank in Nigeria can pay with MasterPass, mVISA and mCASH with any phone by scanning QR code or using USSD”.
“If the person that wishes to buy goods from you is coming from a bank that has mVisa and wishes to pay, the same QRcode would accept an mVisa payment and vice versa. That creates synergy between us and the other banks and convenience for the merchants. And as you know, the QRcode is much cheaper than having a point of sale (PoS),” he said.
Akinwuntan made an example of how the EcobankPay works by buying a pair of shoes from one of the traders at the Ariaria market and make payment through QR scan and the seller received alert instantly.
It will be recalled that the EcobankPay Zone is a digital payment hub enabling businesses within a location adopt Ecobank’s wide range of digital products for ease of payments for goods and services.
It also enhances transactions between merchants and their customers by eliminating risk of payment rejection and also delivers same day value and sales transparency for merchants.
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