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ECOBANK UNVEILS MOBILE PAYMENT SOLUTIONS - MASTERPASS AND MVISA FOR EASIER RETAIL PAYMENTS - FINANCIAL-24

Ecobank Tanzania Managing Director, Mwanahiba Mzee (centre) addresses the media in Dar es Salaam yesterday after the launch of Ecobank Mobile App MASTERPASS and MVISA for easier retail payments. She is flanked by the Bank’s Head of Commercial Banking, Respige Kimati (right) and Head of Personal Banking, Ndabu Lilian Swere.

Ecobank Tanzania Head of Personal Banking, Ndabu Lilian Swere (left) addresses the media in Dar es Salaam yesterday after the launch of Ecobank Mobile App MASTERPASS and MVISA for easier retail payments. She is flanked by the Bank’s Managing Director, Mwanaiba Mzee (centre) and Ecobank Tanzania Head of Commercial Banking Respige Kimati (right).

Ecobank Tanzania Head of Digital Banking, Philemon Tesha (left) gestures as he addresses the media after the Bank launched a Mobile App – MASTERPASS and MVISA which will be a solution to merchant's payment solutions.

In its drive to promote financial inclusion among Tanzanians, Ecobank Tanzania has unveiled payment solutions – MASTERPASS and MVISA for easier retail payment using the Ecobank Mobile APP.

MASTERPASS QR and MVISA are digital payment solutions that offer customers the convenience of doing digital payments at retail outlets much cheaper, more securely and conveniently. Customers pay through their smart phones by scanning the unique Quick Response (QR) code at the retail outlet.

Speaking in Dar es Salaam yesterday, Ecobank Tanzania Managing Director, Ms. Mwanahiba Mzee said that the Ecobank Mobile App that was launched in February this year has now been modified to include more features which will be beneficial not only to Ecobank customers but also to non-customers across the world.

‘Ecobank Mobile App is a one of a kind banking application that is activated in all 33 countries where Ecobank is present and is accessible worldwide. Customers can just download the app and open an Ecobank digital account, make payments and transfer funds without physically visiting the branch,’ said Ms Mwanahiba Mzee.

We are now back with enhanced unique features of the mobile app and we are pleased to bring to you Masterpass QR and Mvisa payment solutions, she added.

The Ecobank MD, Mwanahiba Mzee said that MASTERPASS QR and MVISA are digital payment services that allow consumers to pay with their cards or accounts anywhere, on any connected device through a simple click, tap, or touch. To add on that Ms. Mzee said, this is a mobile driven, person to merchant payment solution designed to address payment challenges within the Micro, Small and Medium Scale Enterprise segment.

‘Both Ecobank and Non-Ecobank customers simply need to download the App on their smartphone then register using a debit Visa/Master card, or Open Ecobank Xpress account and transact. Existing customers need only to download and activate the app using either their debit card or Ecobank Retail internet banking credentials’, the bank’s the Head of Personal Banking, Swere Ndabu said.

The Head of Personal Banking said that Merchants enrolling on these payment solutions will benefit by lower infrastructure costs, fast cash-like settlement, Lower risk and boosts sales growth as it encourages spending. They also assist merchants to easily keep record and reconciliation for sales and stock.

Ms. Swere added that by using Ecobank mobile app customers can transfer funds within Ecobank locally and internationally, other banks in Tanzania, to any Visa Card worldwide and to mobile wallets (M-Pesa, Tigo Pesa, Airtel Money).

This is a unique digital product that regards Ecobank as most digitalized bank in Tanzania and Africa at large and therefore I call upon Tanzanians to come and make use of it and experience the difference, said Ecobank MD, Mwanahiba Mzee.

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