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Ecobank Transnational Incorporated (ETI), a leading Pan-African banking group, has launched the Ecobank Mobile App, a digital banking product, available for its customers in 33 African countries. According to a statement released today, the bank said the new app will enable customers to send and receive money, make payments, and open a digital account – called Xpress Account – with no paper references.
 
“The Ecobank Mobile App opens up opportunities for customers by allowing them to shop, transact and do business without cash,” said Ade Adeyemi, Ecobank’s Group CEO, during the product launch in Lagos. “At scale, this will be transformational for Africa. Through its purchasing power and Ecobank’s partnerships with Visa and Mastercard, the Ecobank Mobile App will be an accepted means of payment.”

Ecobank said the App gives the bank the scale and capacity to achieve its target of attaining 100 million customers in a profitable and sustainable way. The App is also equipped with the Ecobank Masterpass QR technology, which allows account holders to pay for online and in-store purchases without cash or physical bank cards.
 
“This product launch fulfils our promise to create relevant solutions for consumers,” said Patrick Akinwuntan, Ecobank’s Group Executive for Consumer Banking. “With the Ecobank Mobile App, Ecobank customers can now make and receive instant payments across 33 African countries on their mobile devices. They can also pay in store with their mobile phones. This is genuine convenience delivered to our consumers.”

Headquartered in Lome, Togo, ETI is one of the largest banking groups in Africa with operations in 36 African countries and over 19,000 employees spread across 1,305 branches and offices.

“With its removal of barriers to entry and affordable price points, the Ecobank Mobile App will empower the consumer to be on the move,” Adeyemi said.