Ecobank launches mVisa across 33 African Countries

Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers.

The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their bank accounts to pay person-to-merchant (P2M) or person-to-person (P2P).

Ecobank Scan+Pay with mVisa delivers instant, secure cashless payment for goods and services by allowing customers to scan a QR code on a smartphone or enter a unique merchant identifying code into either a feature phone or smartphone. The payment goes straight from the consumer’s bank account into the merchant’s account and provides real-time notification to both parties.

This serves to accelerate digital commerce and combat some of the challenges merchants have faced using traditional point of sale…