Access Bank Plc, is consolidating its leadership in Nigeria’s digital banking landscape with the introduction of a new multi-banking payment solution. The solution tagged ‘PayWithCapture’ is a mobile payment solution that permits customers to make payments by scanning a merchant’s pre-generated QR-Code using the camera of their mobile device or via a one-step Beacon-NFC (Near Field Communications) System. It can be linked with different payment cards (Any Bank’s MasterCard/VISA, Bank Account, Mobile Wallet) and affords customers the opportunity of selecting which payment instrument he/she chooses to use. With the service, a user can add as many cards or payment instruments (bank accounts and mobile money wallets) as desired. This journey of inclusiveness is based on the belief that inclusiveness is the first step in the journey of innovation and the biggest players in the mobile space have been those who opened up their platforms to other players.
This is a unique mobile payment solution with in-built loyalty points & coupon rewards. Merchants can also use the PayWithCapture Coupon System to reward their customers without the need to invest in complex reward systems.
PayWithCapture Beacon-NFC Pay allows Merchants to push Adverts and content to consumers which helps to look beyond traditional value chains for fresh opportunities. Commenting on this innovation by Access Bank, Group managing director, Herbert Wigwe said, “Forging growth in mobile payment solutions requires inclusiveness. For the potential of mobile payment technologies to truly explode, it is important that we begin to see it as more than a bank initiative but more of a consumer initiative and that is where inclusiveness comes in.” He further added, “We are committed to providing solutions that meet people in their niche and we have been working closely with technology partners to achieve this. Nigeria is an exceptional country with unique consumer needs.”
He added that, Access Bank introduced PayWithCapture because it is a solution that allows for a combination of payment solutions to accelerate financial inclusion in Nigeria. This, he emphasised, allows the Bank to meet every consumer in their niche.
“Banking is morphing into something at the intersection of retail and mobile, and inclusiveness is the way to go. To actually achieve innovation in mobile payment, we need a payment solution that recognizes all our financial payment instruments, allows us perform transactions without physical encumbrances and takes cognisance of our unique local challenges like nascent internet infrastructure,” Wigwe noted.
Gbenga Agboola, head of product management and innovation, Access Bank, said PayWithCapture comprehends inclusion and fidelity. “We realised that the average Nigerian is multi-banked and this brings unique case scenarios; like cash being spread around different accounts/cards and the inconvenience of lugging around so many cards. PayWithCapture solves that problem. According to him, Access Bank has entered into a partnership with merchants in all market categories to offer unique discounts for users of the PayWithCapture application. “With PayWithCapture, you can pay with any bank’s card. You register all your Cards on your PayWithCapture profile and they will be selectively or collectively debited based on your preference. Also, this application works offline, this way, transaction details are sent in little packets of data where the customer’s payment details have been encrypted. This reduces, or rather, totally obliterates issues of network downtime and unavailability to process payments.
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