ECOBANK LAUNCHES NEW SERVICE

Mon, 25 Sep 2017 14:36:54 +0000

By Sandra Machima

ECOBANK has taken the power of mobile banking to new heights with Xpress Cash cardless cash withdrawal service as the bank strives to address the needs of the unbanked customers, says the bank’s CEO Ade Ayeyemi.

Mr Adeyemi said as the vanguard of financial inclusion, Ecobank was striving to address the needs of the general populace by transforming a mobile phone into an all-in-one bank account and payment/cash withdrawal tool.

“Innovating for customer convenience is in our DNA at Ecobank, and we have developed this fast, convenient and innovative mobile banking solution –cardless Xpress Cash at our ATMs and agencies to include our digital platforms within the lifestyle of   our   customers   and   improve   the   uptake   of   digital   financial   solutions   by   both   banked   and unbanked in Africa,” Mr Adeyemi said.

Mr Adeyemi said an example was the innovative Xpress Cash functionality, which had been introduced as part of its upgraded mobile banking app, explaining that the Xpress Cash allows customers to withdraw cash from any Ecobank ATM using e-Tokens generated from the Ecobank mobile app.

“Ecobank is known across Africa for leveraging the mobile phone to deliver instant bank accounts, transfers   and   payments to   our   customers, and we are taking this   to   another   level by giving   our customers the opportunity to withdraw cash on our ATMs using their phones.”

Mr Adeyemi explained that the e-token generated could also be redeemed at agent locations within any of Ecobank’s 33 territories across middle Africa, including Zambia.