Banking
Ecobank Assists Business Owners with Unified Digital Payment Solution
By Dipo Olowookere
One of the top lenders in Africa, Ecobank Nigeria, has introduced Africa’s first unified digital payment solution aimed to help business owners grow their customer base.
The new innovation is called Ecobank Pay and is a multi-featured digital payment solution built as a core part of Ecobank’s digital financial services ecosystem approach and will deliver unified and instant self-service across a range of interconnected payment solutions.
It can be used by all businesses from small informal micro merchants to large corporates as well as governments, allowing them to offer easy and convenient payment options to their customers in-store or online.
Ecobank Pay includes a rebrand of the Ecobank Scan+Pay QR offering, which allows customers to pay in-store via the Ecobank mobile app. Merchants can now also speedily sign-up for their QR merchant code via the Masterpass QR for Merchant functionality on Facebook Messenger.
As the Ecobank Pay ecosystem expands, it will unify all of Ecobank’s digital payment offerings for internet payments, eCommerce, paying bills via mobile and airtime top via mobile.
The Ecobank Pay QR offering or Unstructured Supplementary Service Data (USSD) will continue to allow customers of any bank in Nigeria or beyond, to make payments for goods and services, using their mobile banking app to Scan+Pay with MasterPass, Visa or mCash as the means of payment.
mCash allows merchants to receive payments from their customers on one single Merchant Terminal ID for both Scan+Pay and USSD through the Nigeria Inter-Bank Settlement System (NIBSS) mCash service by dialling *402#.
For Ecobank Pay Scan+Pay (via MasterPass and Visa) as well as USSD, merchants will receive instant credit on their account with Ecobank. This digital payment solution is targeted at small informal micro merchants, registered small and medium size merchant businesses, corporate and institutional merchants operating in-store or online, as well utilising the social media platform of Facebook Messenger to sign up for QR technology.
“Ecobank is committed to simplifying doing business for the people it serves, and Ecobank Pay is a payment solution channel that will make payments easier, faster, convenient and more secure,” commented Mr Charles Kie, Managing Director, Ecobank Nigeria.
“As an enhanced payment platform, it will make business cash flow easier to manage and will help to grow sales as it accepts payment from any mobile phone user at anytime and anywhere, whilst improving both convenience and the client experience. It has no initial transaction charges and is a cost-effective alternative to POS terminals as payments are directly authenticated, pushed and approved by the customers buying the goods or services, therefore limiting the risk of chargebacks or disputes.”
The clear advantages of Ecobank Pay is that everyone can use it regardless of size, and the value it brings through the digital QR code technology that will enable businesses to access more financial services and grow.
Mr Patrick Akinwuntan, Group Executive, Consumer Banking, Ecobank Transnational Incorporated, says: “The merchant receives instant credit for all transactions as opposed to the current transaction day plus one (T+1) of a POS transaction. Customers can make payment from any type of mobile phone and notification is provided through SMS, the merchant app and the merchant portal. Ecobank Pay is an innovative, cost-effective and convenient digital payment solution that will enable businesses to enjoy quick settlement, grow sales, increase customer loyalty and make it easier for them to expand into new markets.”
Mr Akintwuntan called on businesses and organisations to embrace cashless payments and calls on religious organisations, government agencies, transport companies, telecom service providers, agency banking service providers, financial payment facilitators, the hospitality, leisure and entertainment sector, e-Commerce and utility companies and all others to harness the opportunities and advantages of solutions like Ecobank Pay, which will move Nigeria and Africa into a more cashless and financially inclusive society. These, and many other business sectors, can embrace the convenience, speed and security of Ecobank’s innovative digital payment solutions.
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
By Dipo Olowookere
Customers may have difficulty accessing the digital platform of Polaris Bank, known as VULTe, during the Easter holidays from Friday, April 3, to Monday, April 6, 2026.
This is because the financial institution is carrying out system maintenance on the platform in its effort to ensure users enjoy a better banking experience.
In a notice over the weekend, the lender said “access to VULTe may be limited,” but it provided an alternative, which is the PolarisXperience.
Polaris Bank, which expressed regret over “any inconvenience” this action may cause its customers, said the “scheduled system maintenance” would happen from 10 pm to 8 am daily, promising that normal service would return after the maintenance.
“In continuation of our commitment to delivering a seamless and improved banking experience, we will be conducting a scheduled system maintenance during the Easter holidays.
“During this period, access to VULTe may be limited. We have provided an alternative channel, PolarisXperience:
“Please go to our website to onboard or use it as an existing user. You can also use this link: (https://elogin.polarisbanklimited.com).
“We regret any inconvenience and appreciate your understanding. Normal service will resume after the maintenance,” parts of the notice seen by Business Post read.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn