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The Managing Director, Ecobank Nigeria, Patrick Akinwuntan, has disclosed that the bank is leveraging technology to push the frontiers of financial inclusion of the unbanked and under-banked in the country.
Akinwuntan said this in Lagos. during his presentation at the Vanguard Economic Forum series on mobile money market and Fintech, with the theme, ‘Leveraging Fintech Innovation for Unlocking Growth and Competitiveness in Nigeria’s Mobile & Payment Ecosystem’ held
He pointed out that Nigeria which has improved financial inclusion from 47 per cent to 63 per cent in the last decade, remains a dynamic market with a lot of opportunities for digital financial expansion.
He stated that Ecobank has built an ecosystem that leverages digital technology to bring affordable, easy and convenient financial services to the people and businesses.
According to him, Ecobank is currently pushing EcobankPay, Xpress Agency Points and other digital platforms as key solutions to address the rapid shift to mobile payment and the adoption of digital channels across the country. He described EcobankPay as a “a lifestyle scan and pay digital payment and collection service which accepts payments from other platforms – mVisa, Masterpass and mCash.
He noted that EcobankPay “is currently available at over 90,000 merchant locations across the country. This is in addition to over 6,000 Xpress point agent locations in the country.
“Also, we have over eight million mobile banking subscribers across the Ecobank Group. Our Ecobank Mobile App is unique, as it is one universal app available in 33 countries where we operate in Africa. Furthermore, Ecobank has so far set up EcobankPay Zones in over 50 locations in different parts of the country. These are digital hubs enabling businesses within a location adopt Ecobank’s wide range of digital products for ease of payments for goods and services.
The payment options at the zones include EcobankPay, Xpress points, Automated Teller Machines (ATMS) and Point of Sale (PoS)”.
