Ecobank launches mVisa across 33 African Countries

Ecobank launches mVisa across 33 African Countries
Published: 02 October 2017 (663 Views)
LOME, Togo - Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers.

The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their bank accounts to pay person-to-merchant (P2M) or person-to-person (P2P).

Ecobank Scan+Pay with mVisa delivers instant, secure cashless payment for goods and services by allowing customers to scan a QR code on a smartphone or enter a unique merchant identifying code into either a feature phone or smartphone. The payment goes straight from the consumer's bank account into the merchant's account and provides real-time notification to both parties. This serves to accelerate digital commerce and combat some of the challenges merchants have faced using traditional point of sale systems, including the cost of installation coupled with the requirement of electricity and internet connectivity.

Ecobank mVisa solutions also enable customers to send money instantly to any Visa cardholder worldwide. This is a major innovation that serves the need of Africans in the diaspora by enabling them to simply link their Visa card to the Ecobank unified mobile app to send money home to another Visa cardholder quickly and securely.

"We are fulfilling our commitment to give every African the right to participate effectively in the global economy at an affordable price and in a convenient manner. Ecobank Scan+Pay with mVisa helps merchants – particularly small and micro merchants – to grow their sales without the risks of carrying cash whilst also giving consumers the ability to pay for goods and services in a cashless manner from their phones. Consumers can also conduct person-to-person payments and instantly transfer money to their friends and family via their phones at very low cost," said Ecobank Chief Executive Officer Ade Ayeyemi.

The partnership demonstrates both Ecobank and Visa's continued commitment to provide financial services to the banked and unbanked in Africa by leveraging digital platforms to offer convenient and affordable payment mechanisms.  

Andrew Torre, President for Visa Sub-Saharan Africa said, "We are glad to partner with Ecobank to bring mVisa into the market, a mobile payment solution with real benefits to drive digital transformation backed by advantages of Visa's global network - security, reliability and global acceptance, allowing consumers to make payments both domestically and internationally."

Patrick Akinwuntan, Ecobank Group Executive Consumer Banking, pointed out that the Ecobank mVisa solutions rollout significantly strengthens the banks person-to person payments capabilities. "Bringing this added functionality on our Ecobank mobile app connects families in Africa by delivering needed funds instantly anywhere, anytime. That's real value to our customers," he said.

- APO

Tags: Ecobank, mVisa, banking,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

'Learn to appreciate good deeds,' Adv. Mahere told

by Simbarashe Sithole | 21 February 2018 | 173 Views

Pastor fails to pay maintenance

by Staff reporter | 21 February 2018 | 138 Views

Hooker stabs client to death

by Staff reporter | 21 February 2018 | 143 Views

Elizabeth Tsvangirai story: A true mirror of human rights encroachments faced by widows in Zimbabwe

by Patience Sibanda (intern at Zimbabwe Democracy Institute) | 21 February 2018 | 237 Views

'Chamisa now unstoppable'

by Staff reporter | 21 February 2018 | 222 Views

Tshinga Dube wades into 'foreign' labour saga

by Staff reporter | 21 February 2018 | 145 Views

Mnangagwa's govt fails to pay bonuses

by Staff reporter | 21 February 2018 | 88 Views

Zanu-PF MP's son shot

by Staff reporter | 21 February 2018 | 107 Views

Chamisa bemoans violence against party leaders

by Stephen Jakes | 21 February 2018 | 145 Views

Mnangagwa commissions NRZ rolling stock

by Staff reporter | 21 February 2018 | 87 Views

Ban on kombis in CBD slammed

by Staff reporter | 21 February 2018 | 250 Views

Mahamat of supporting a coup government in Zimbabwe

by Staff reporter | 21 February 2018 | 94 Views

President Mugabe's 94th birthday photos

by Staff Reporter | 21 February 2018 | 938 Views

Mugabe feeling 'unloved' on his 94th birthday

by BBC - Brian Hungwe | 21 February 2018 | 153 Views

What peace and reconciliation without truth

by S.V Mabhena | 21 February 2018 | 71 Views

MDC-T splits as Obert Gutu quits MDC-Chamisa

by Staff reporter | 21 February 2018 | 174 Views

US to withdraw MDC-T funding over terror attacks on Khupe?

by Staff reporter | 21 February 2018 | 149 Views

Turning blind eye on violence, root cause of MDC split - Coltart

by Simbarashe Mwandipendaa | 21 February 2018 | 86 Views

PICTURES: Bhalagwe memorial service

by Staff reporter | 21 February 2018 | 72 Views

The Menzisi Dube Foundation Appeal

by Agencies | 21 February 2018 | 51 Views

Billy Graham dies

by BBC | 21 February 2018 | 98 Views

Happy national youth day comrades

by NPP National Youth | 21 February 2018 | 108 Views

Happy Birthday Baba Bona

by Belinda Chowa | 21 February 2018 | 259 Views

WATCH: The moment Khupe was attacked by Chamisa's supporters

by Staff reporter | 21 February 2018 | 147 Views

Zhuwao 'reacts angrily' as AU supports Mnangagwa' - report

by Staff reporter | 21 February 2018 | 92 Views

WATCH: Chamisa supporters called Khupe a dissident

by Staff reporter | 21 February 2018 | 156 Views

Chamisa apologise but tells Khupe to go to Mars

by Staff reporter | 21 February 2018 | 159 Views

The politics of gender and tribe must fall - NPP Youths

by Khulani David Ndlovu | 21 February 2018 | 76 Views

Econet Media's Kwesé and iflix Deepen Partnership

by APO | 21 February 2018 | 101 Views

Khupe attackers were chanting Chamisa slogans

by Simbarashe Sithole | 21 February 2018 | 95 Views

Mujuru in Buhera

by Advocate Gift Nyandoro | 21 February 2018 | 88 Views

Attack on Khupe a Gukurahundist replica

by Mkhululi Zulu | 21 February 2018 | 113 Views

Thank You Zimbabwe - MDC-T

by Luke Tamborinyoka | 21 February 2018 | 189 Views

No lavish 94th birthday celebrations for Mugabe

by Staff reporter | 21 February 2018 | 224 Views

Mnangagwa's emissary humiliated at Tsvangirai burial

by Staff reporetr | 21 February 2018 | 138 Views

Mutambara whip up MDC-T crowd with partisan speech

by Staff reporter | 21 February 2018 | 139 Views

Chamisa invaded Tsvangirai's most private space

by Staff reporter | 21 February 2018 | 163 Views

Kaseke, ministry official clash over Mzembi

by Staff reporter | 21 February 2018 | 96 Views