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New Ecobank Mobile App allows payments using QR codes

To be honest I wasn’t too excited to hear about Ecobank’s new Mobile app. I thought well just another bank app, what’s new about that? Oh they do have something new. The Ecobank Mobile app comes with Masterpass QR, the one click payment solution from MasterCard.

What the heck is that right? Materpass QR is an e-payments solution that lets you use your mobile phone to make payments. Well, we already use mobile money services to do that, don’t we? Not like this. As is obvious the service uses QR codes to make payment.

No, not QR codes on products. Ecobank provides a merchant – that is a supermarket or even a street vendor – with a unique Masterpass QR code which you just scan with your phone through the Ecobank Mobile app. You then enter the amount you are to pay, then the PIN and you are done! You do your payment within three straightforward steps. Let me retrace them for you:

Step 0

Fill up your trolley and drive it up to the smiling but exhausted checkout attendant and you will see the Masterpass QR code displayed at the counter. Or maybe in my fantasy Zim, you are  sitting in your kombi and you lift up your head to see the Masterpass QR code behind the seat in front of you. You smile and launch (open) the Ecobank Mobile App

Step 1

You scan the code with your phone…

Step 2

You enter the total amount that your checkout attendant has rung up. In my parallel kombi universe, just enter the standard 50 cents.

Step 3

You enter your PIN…

You are done actually. It really is that simple. Just take your plastic bags. The guard – no, the Security Officer at the door, will smile at you as you go your way. On planet kombi, just wait till you get to your drop off point and tell the Hwindi Officer, “Pamubanana.”

Here is why it’s a big deal:

You do not have a bank account with Ecobank? No Problem…

The Ecobank Mobile app is for both Ecobank account holders and non-account holders……Simply for everyone. You open an Ecobank Xpress  Account using the app itself. You fund this account the same way you fund any other account and you can use it the same way too.

Scanning a QR code is faster than counting currency unless it’s just… $0.50 of course.

This may mean fewer minutes in line at the supermarket. Swipe machines can be a drag, right?

We are still learning this product and we will keep you in the loop if there are any new features to unravel. If you want to check it out yourself search for the Ecobank Mobile App in the Apple App Store or Google Play

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4 thoughts on “New Ecobank Mobile App allows payments using QR codes

  1. I appreciate innovation as much as the next guy, but the problem that exists in Zimbabwe is implementation. I’m yet to see a merchant that supports these MasterPass QR codes. Ideally, they should have brought on as merchants as possible, then rolled out the feature to consumers.

    It’s no different to Ecocash Ta, for NFC based payments, the platform was rolled out to consumers, but where are the participating merchants?

    Stanbic bank has a Rewards4U programme where you earn rewards for using a Stanbic POS as a Stanbic client, but I’ve only seen one Stanbic POS out there. The majority of the POS machines I’ve encountered are CBZ, Cabs and Steward machines.

    Implementation is end-to-end. Once we get that right, these platforms will yield benefits to the consumer, merchant and payments providers.

  2. I am actually developing a system exactly like this as a final year project. Well I was hoping to liase with the banks so that they can take up the idea.. Ecobank has done it before I had done my rounds in banks for the adoption of this innovation.

    1. O really?? That’s interesting hey. I think there is still room to improve on this though. Maybe to enable shopper to scan products QR codes as they shop and the app will tally up all such that most of the checkout process will be done by the time they get to the checkout point. This is not a refined thought hey, hope it stimulates you and others to visualize a whole new functionality for this kinda app…

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