Ecobank Becomes First To Integrate Masterpass QR Technology

@EcobankKenya Masterpass QR Merchant

Ecobank becomes the first lender in Kenya to include Masterpass QR to its existing payment options.

The bank which recently launched its mobile app in Kenya had the opportunity to bring into the finance industry the new MasterCard's payment innovation dubbed Masterpass QR which can be used by both individuals and businesses.Ecobank is just one but MasterCard expect more lenders to jump on board.

Masterpass QR Technology

Masterpass QR is a mobile driven secure method of payment from person- to- merchant (P2M).Individuals paying for goods from approved merchants will have to scan the QR code to reveal unique merchant number before proceeding to pay.

With the aid of the app,Ecobank customers and customers from other lenders who will integrate Masterpass QR can scan the secret code,pay and go!

The QR Code technology is not very new in the Kenya finance industry though. Visa last year introduced the same P2M QR code payment method dubbed mVisa.Currently the mVisa payment technology is available to both individuals and merchants from four commercial banks in kenya namely Family Bank,KCB,NIC Bank and Cooperative Bank of Kenya.

Advertisements