Ecobank Nigeria Limited said it has offered special discount for shoppers using the Ecobankpay option to pay for their goods and services during the Christmas celebrations.
The Ecobankpay is a convenient digital QR code that enables payments using the mobile phone, without the need for a plastic card. The platform is unique because it has MasterPass, MVisa and Mcash embedded in the merchant identity QR Code. This enables each customer to transact across the three platforms regardless of the bank cards he/she is holding.
Rotimi Morohunfola, the Ecobank Head of Commercial Banking revealed that the shoppers who use the Ecobankpay platform will get special discounts in select shops in Lagos, Abuja, Port Harcourt and Aba where the Ecobankpay QR code is on display.
He noted the accessibility of the Ecobankpay QR code by revealing that it accepts all the three payment platforms available, be it MasterPass, MVisa and Mcash.
Morohunfola said that “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 interoperability and convenience for the merchants and as you know, the QRcode is much cheaper than having a point of sale (PoS)”.
Speaking on the benefits of the platform for merchants, he said “the beauty of the Ecobankpay is in the cost of setting up as the shop owner simply print the QR code on a paper and can stick it anywhere and do not run any risks”.
He noted that “it is convenient and the mobile app allows you the ubiquity, it allows you 24/7 access, it is affordable and for every Nigerian. When you are a merchant and we on-board you on EcobankPay, you will automatically have a QR code that accepts all the three payment platforms – MasterPass, MVisa and Mcash”.
The Ecobank Pay QR offering, or Unstructured Supplementary Service Data (USSD) is a one stop platform across 33 countries in Africa where Ecobank is present. It allows customers of any bank in Nigeria or beyond, to make payments for goods and services, using their mobile banking app to Scan and Pay with MasterPass, Visa or mCash.