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Ecobank in line with its mission of providing convenient, accessible and reliable banking services to meet the ever changing financial needs of its clients has launched another product in its digitization journey.

According to the Managing Director of Ecobank Ghana, Mr. Dan Sackey, in order to remain relevant to their customers Ecobank is always on the edge to identifying ways to improve their services as their clients’ needs are constantly evolving.

Speaking to Peacefmonline.com, Mr. Dan Sackey averred that Ecobank has signalled its intention and readiness to help push the agenda of the government to support activities that promote financial inclusion to cover all segments of the Ghanaian population.

“We are aware that Government, in its recent budget statement, has indicated its intention to support activities that promote financial inclusion to cover all segments of the Ghanaian population. We believe that this goal can be achieved faster and efficiently through the development of a cashless economy. We at Ecobank have signalled our intention and readiness to help push this agenda forward,” he stated.

He reiterated that the government goal can be achieved faster and efficiently through the development of a cashless economy; to this end Ecobank launched the Ecobank Mobile App in November 2016 as part its drive to put convenient and accessible banking services right at customers’ fingertips.

He added that the Ecobank Mobile App enables the clients to transfer funds to any recipient at any bank in Ghana and across their 33 operating countries without stepping foot in a banking hall.

“Today we take another giant step in our quest to bring convenience and greater accessibility to all Ghanaians with the launch of an additional service to our exciting digital suite or range of products. This is the Ecobank MasterPass QR; a smart merchant solution that accepts payments for foods and services from your mobile phone. The Ecobank MasterPass QR is designed together with our partner, MasterCard to support Ecobank’s retail payment strategy,” he emphasized.

Detailing the services of the new product, the MD for Ecobank Ghana mentioned that the Ecobank QR allows merchants to accept payments from any mobile devices without a physical Point of Sale (POS) Terminal.

He stressed that the merchant receives payment instantly as this eliminates the cost of physical Point of Sale terminals and reliance on network or internet connectivity; thus this bring huge benefits to the merchant by eliminating the costs associated with handling cash and provides the merchant with a record of all transactions.

Another benefit of using Ecobank MasterPass QR, he said eliminates the cost of travelling to the bank, cash shortages and related fraud issues; Ecobank however intends in the future to use the merchant sales records and volumes to support requests for financial support from merchants.

“It is clear that any entity involved in commerce, be it the distribution of goods and services, the supermarket, restaurant, your local chop bars, fruit seller by the roadside, waakye seller, barbering shops etc., will benefit immensely from this instant payment solution,” he pointed out.