It was excitement and fun at Oluwole Market, Lagos Island, as Ecobank Nigeria launched its innovative digital payment solution, EcobankPay zone in the market on Wednesday. Traders and market leaders that spoke at the event were filled with commendation for Ecobank for introducing EcobankPay zone to their markets, stressing that it would bring ease of transactions in Lagos Island generally.
Speaking on behalf of the market leaders, the Head of the Market Women (Iya Oja), Oluwole Plaza Market, Chief Mrs Josephine Onwudiwe, EcobankPay zone couldn’t have come to the market at a better time, stressing that the digital payment solution would go long way to boosting activities in all the markets on the Lagos Island.
Chief Onwudiwe who traced a long relationship between Ecobank and the traders thanked Ecobank management for selecting Oluwole market for the launch, stating that she would personally ensure all the traders in the market adopt and maximize the opportunity provided with the EcobankPay zone. “On behalf of the traders in this market, I wish to thank Ecobank for bringing this payment technology to this market. I will personally ensure all of us in this market utilize this opportunity.”
In her testimonial on Ecobank Xpress point , Mrs Adunny Danmole attested to the benefits of the services, urging traders in the market and people living in the community to embrace the EcobankPay zone and other products of the bank.According to her, since she enlisted as a Xpress point merchant of the bank, her business has received major boost, urging Ecobank to spread EcobankPay to all the major markets in the country
Speaking at the launch, Executive Director, Commercial Banking, Carol Oyedeji reaffirmed the bank’s commitment to ensure Nigerians get quality banking transactions and good business dealings at market locations. She emphasized that the digital payment zone will further boost easy and convenient transactions in the market place.
“The EcobankPay initiative would deepen financial inclusion in the community 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”. She noted.
Mrs Oyedeji called on the traders and other people living around the market to embrace the innovative pay zone. She explained that customers and non-customers of the bank who patronize the market will now have quick access to the bank’s digital payment offerings, as it would remove the stress and boredom associated with delays in paying for goods in the market.
“The Lagos Island markets are dear to our heart. Today we bring good news to traders in this popular market and others that live in this vicinity. EcobankPay will make transaction simple and easy. It will create payment convenience for good and services and growing various businesses across the country. You do not need to be a customer of Ecobank. If the person that wishes to buy goods is coming from a bank that has mVisa and wishes to pay, the same QR Code would accept mVisa payment and vice versa. That creates convenience for the merchants. The QR Code is much cheaper than having a point of sale (PoS).” she noted.
EcobankPay is free to set up as the shop owner only needs his/her QR code and phone for notifications to start receiving quick and easy payments. EcobankPay, a special merchant QR Code product of the Pan African Bank, enables customers make seamless payment for goods and services across the three major payment platforms without the use of plastic cards.
For the merchants, the beauty of the EcobankPay is in the cost of setting up, as the shop owner simply prints the QR Code on a paper and can stick it anywhere and do not run any risks. It would be recalled that the Bank had launched similar pay zones in Alaba International market and Amu market, Mushin.