ECOBANK TANZANIA LAUNCHES INNOVATIVE DIGITAL PRODUCT

ECOBANK TANZANIA LAUNCHES INNOVATIVE DIGITAL PRODUCT

Ecobank Tanzaniahas launched Ecobank Mobile App, a convenient and instant way of banking via the mobile phone.

The Mobile App empowers customers to carry out a range of financial transactions including Fund Transfers- both local and Interbank, Airtime Top Up, Bill Payments, view Forex Rates, Account Statement viewing and requests, Merchant Payments as well as Card and Cheque Services.

Going forward, the Ecobank Mobile App will enable customers of the bank access their accounts via mobile phones and USSD channel thus ensuring convenience, 24/7 accessibility and speed while eliminating the need to visit or queue at any of the bank’s existing 8 branches.

TheDeputy Minister of Finance and Planning, Dr. Ashatu Kijaji, thanked Ecobank Tanzania for the initiative which she said would go a long way to accelerate and deepen financial inclusion efforts in Tanzania.

According to the Ecobank Group Chief Executive Officer Mr. Ade Ayeyemi, Tanzania’s attractive demographics and other unique characteristics fit within the Group’s vision of spearheading financial inclusion across Africa.

“The Ecobank Mobile App opens up huge opportunities for customers allowing them to shop, transact and do business without carrying cash. It is the first unified application of its type delivered by any institution to be used concurrently in 33 African countries. We would leverage the power of digital to literally put the power at your fingertips” he said. 

Ecobank Tanzania’s Managing Director, Mr. Enoch Osei-Safo said: “Today marks a turning point in our journey of positioning ETZ as the preferred digital gateway in Tanzania for individuals, businesses, traders and government institutions. The Ecobank Mobile App would among others help our customers spend shop and pay without cash and with more convenience than they have ever imagined”.

In addition to its online banking products for individuals and businesses as well as the Ecobank Mobile App and the visa/MasterCard debit cards, ETZ’s “digital push” will see the bank rolling out more innovative digital solutions including Prepaid Cards, Ecobank Xpress Account and Masterpass QR in the coming months once all regulatory hurdles have been cleared. The Ecobank Mobile App was first launched within the Group in Lagos, Nigeria in October 2016.

In the near term, ETZ’s customers  will also be able to leverage the Ecobank Mobile App to open the Ecobank Xpress Account, which is a simplified digital account thriving on e-KYC. . Ecobank is also the first bank in Africa to partner with Mastercard, a leader in global payments and technology, to bring its customers Masterpass QR.

This new, cashless solution will make payments possible in-store and online via a mobile phone. Thanks to Ecobank, merchants in Tanzania will in the near future be able to leverage the power of Masterpass QR to grow their business.