BusinessBusiness, Finances

UBA launches new payment system via facebook

The United Bank for Africa (UBA) has introduced the Master Pass ‘Quick Response’ (QR) Bot.The revolutionary solution enables the micro,…

The United Bank for Africa (UBA) has introduced the Master Pass ‘Quick Response’ (QR) Bot.The revolutionary solution enables the micro, small and medium enterprises (MSMEs) in Nigeria and across Africa to receive digital payments from their customers through scanning, using their Facebook account.

Developed by MasterCard International in partnership with Facebook, Master Pass ‘Quick Response’ (QR), allows payment collection by SMEs through Facebook Messenger and delivers unified and instant self-service across a range of interconnected payment solutions.

A report by Nigeria’s Tribune newspaper on Monday noted that like LEO, the acclaimed artificial intelligence payment solution introduced by Africa’s global bank, UBA, Master Pass ‘Quick Response’ (QR) is a chat Bot, currently available via Facebook Messenger as Masterpass QR for Merchants.

It added that with this development, customers are given the freedom to shop across devices and channels.

With Masterpass QR for Merchants, small and informal micro-merchants, large corporates and governments now have access to fast, simple and secure digital payments options, a global digital system that allows people pay for services using mobile phones.

In addition, Individuals can now make purchases via merchant apps, in-store or online by simply clicking the Masterpass button and authenticating to complete a transaction.

The report quoted the Group Executive, Digital & Consumer Banking, Anant Rao, as saying that: “Our customers are at the heart of our business, that’s why we keep going the extra mile to satisfy them.”

“As we very well know Micro, Small and Medium Enterprises (MSMEs) contribute significantly to the economy but remain heavily dependent on cash to run their business; however, consumers are demanding safer and more convenient ways to pay.

“The innovative new platform enables micro, small and medium enterprises (MSMEs) in Nigeria receive digital payments from millions of customers by simply scanning,” he said.

According to him, access to mobile technology presents an opportunity to meet this demand, and the new UBA Masterpass QR Merchant App is set to change the payment landscape to the benefit of micro-merchants across the country.

Rao explained that earlier this year, UBA launched a chat banking personality named LEO that enables its customers to make use of their Facebook chat function to carry out key banking transactions.

LEO, allows customers to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and airtime top up.

UBA, Africa’s global bank, is one of the largest commercial banks in Nigeria incorporated which operates in 19 African countries whilst providing a wide range of products and services.

Source: APA

Follow the live information on our channel