By Peter Egwuatu

Sterling Bank Plc has leveraged the Nigeria Inter-Bank Settlement System (NIBBS) ecosystem to introduce OnePay for Business, a mobile app that empowers merchants to use their mobile phones as Point-of-Sales, mPoS systems.

The mPoS allows merchants and their customers to receive and make cardless, contactless and cashless payment for goods and services in a near-cash form using QR Code, Bluetooth and PaywithSpecta.

Speaking at the product launch, Dipo Alabede, Group Head, Digital Banking at Sterling Bank, said: “It meets the need for a hygienic payment method in a COVID-19 world.

The contactless payment feature on the app is essential for merchants and customers because it keeps both safe as the world combats the coronavirus pandemic. It is also an effortless way to make payments.”

According to Alabede: “ OnePay for Business is easy to use and available for download on the Android Play Store and iOS Store. It requires a smartphone with an internet connection to set up. After setting up, customers can log in to use payment options that include QR Code, nearby payment (Bluetooth) and PaywithSpecta.

A QR code is a unique barcode containing the merchant’s business name, QR merchant ID, and other information encoded into it. Instead of manually entering data into their mobile phones, customers would scan a merchant’s QR code using the QR feature on their app to start the payment process.”

Alabede explained that customers could make payment using the app’s QR feature if it is enabled as a part of their mobile banking offerings. “To pay merchants, customers have to open their OneBank app or any other bank mobile app to select the QR service option, validate and complete the transaction” he added.

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Urging merchants to download and use the app, the Executive Director, Commercial Banking at Sterling Bank, Tunde Adeola, noted that : “It would save them money and reduce their cost of operations.”

He added that the bank looks forward to supporting all merchants that will download and use OnePay for Business.

Olayinka Oni, Chief Digital Officer of the bank, described OnePay for Business as another means of enriching lives through immediate settlement value for merchants.

He assured merchants and customers that the bank will continue to enrich the product, ensuring that it delivers on its promise leveraging the Nigeria Inter-Bank Settlement System (NIBBS) ecosystem for its overall benefits.

Oni said Sterling Bank is prepared to do business with credible partners and happy to partner with the NIBSS on the project.

Vanguard News Nigeria