As the world moves towards cashless economies, Ecobank has dragged Lungi Airport to join the bandwagon with the launching of the EcoBank Payzone at the facility. “We are taking Sierra Leone in to the modern age in digital financial technology…. Cash is out dated,” remarked Ecobank Managing Director Aina Moore. EcoBank head of Commercial Banking, Victor Williams explained that the Ecobank Payzone is where customers can come in and pay for goods and services without using cash. He explained that the Ecobank mobile app could be downloaded at Google play or apple store and it could be activated using your ATM card or internet banking log-in. He added that the beauty of the app is even if you are not an Ecobank customer you can activate the app using another bank’s ATM card. Victor also disclosed that another feature of the app is that you can open an express account instantly from the app even if you do not have an account with EcoBank. He added that the pay merchant feature of the app helps you to pay for goods and services using your phone. To use it, he explained the retailer or service provider would have a ‘QR’ code which the customer can scan and make payment using their mobile phone. Victor added that the app is user friendly and it is well protected even if you lose your phone your account could not be accessed because only you will have access to your pin code. He further noted that it is risky and incontinent to have huge money in your possession, pointing that the app saves you from such risk and inconvenience and also the hassle to be going to the bank everyday to make deposits or withdrawals.
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The MD also explained that the product has been launched in different parts of the country, however it is important for it to be at the gateway of the country because it is the first and last port of call for when visitors are coming in or leaving the country. “The target is to ensure that everyone doing business have the possibility to accept payment without cash.” She explained that in advanced countries people no longer move around with physical cash, they move with their card and phone. “We want to move banking into a modern age so that we would have digital financial services openly available to all.” The MD disclosed that you don’t need to pay to use the app. There is no additional charge which is different from a customer writing out a cheque or using an Ecobank ATM card. However, she pointed out that charges would only incur if you use our facility to transact business with another bank. She also noted the possibility to collect money from ATM without the card. “You can use the app to generate token which you can use at the ATM to withdraw cash.” “Banking has changed we need to change with it, the world has changed. The same way people are no longer using the post office to send letters it is the same way cheque books would be redundant in the next 30 years,” she commented. “We’ve moved the ‘QR code’ a step forward we are waiting for the competitors to chase us. EcoBank is poised to take banking forward,” she averred.
By Ophaniel Gooding
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