ECOBANK Nigeria has embarked on sensitization exercise of mass and conventional markets of its innovative global digital payment system, MasterPass QR, which was launched in Lagos recently. The Ecobank MasterPass QR allows people to pay for services using mobile phones. It also enables micro, small and medium enterprises (MSMEs) to receive digital payments from millions of their customers.
Addressing members of the public during market storm exercise in different parts of Lagos, Head, Consumer Distribution, Ecobank Nigeria, Tunde Kuponiyi, said the sensitization exercise which is on-going in different parts of the country, is to create awareness amongst members of the public on the benefits inherent in the global digital payment platform, stressing that the technology makes electronic payments safe, simple and smart.
According to him, the new digital platform is also in line with Central Bank of Nigeria (CBN)’s cashless policy and financial inclusion goals, adding that it will attract the unbanked to the financial landscape.
“I am impressed with the level of acceptance of this digital payment system since it was launched in October. Some merchants in Lagos have already started using It. More merchants across the country are expected to sign up. The enthusiasm displayed by members of the public since we commenced this sensitization exercise shows that this product will bring more people to the banking system and also revolutionize the nation’s payment system within the shortest possible time,” he said.
Kuponyi further explained that customers will also be able to pay for goods and services using Ecobank Masterpass QR thereby reducing the need to carry cash or bank cards. He noted that the bank will use its unrivaled network to give customers access to more choice with a larger range of products and services than any other bank across Africa.
Speaking in the same light, Head, SME/Value Chain Banking , Commercial Banking, Sunkanmi Olowo, said the payment system enables MSME sector connect more efficiently to the national and global economy, stating that, it would grant the sub-sector a convenient and secure way of receiving funds.