Payment Revolution: Nigerian Banks Launch Digital Solutions

Aug 12, 2016

The innovations will ensure more positive shifts in financial services in Nigeria

Access Bank Plc Nigeria and Ecobank Nigeria have launched different digital solutions to improve financial services for customers across Nigeria. PayWithCapture (PWC) which was launched August 10, 2016 by Access Bank CEO Herbert Onyewumbu Wigwe, is a mobile payment app developed to allow individuals to make payments by scanning a pre-generated QR-Code; the digital app accommodates other payment instruments such Master, Visa or Verve cards from any bank and it can function without internet using secured SMS and USSD channels. In a similar development, Ecobank Nigeria also launched 'Move on up', a fully-integrated consumer advertising campaign designed to ensure consumers have easy access to digital banking solutions. During the unveiling, the Managing Director of Ecobank Nigeria, Charles Kie said the digital banking solution is designed to give customers access to world-standard, easy, accessible and reliable banking solutions in Nigeria. Both digital solutions will improve convenience of banking; scale up financial transactions on mobile phones, the internet, at automated mobile machines and points of sale nationwide.