Ecobank Ghana drives cash-lite agenda with Ecobankpay launch

Ecobank Ghana, in a bid to complement government’s efforts to achieve a cash-lite society, has launched the EcobankPay, a digital payments and collections service, to help the public access financial services and make payments with ease.

With the launch of the EcobankPay Zone at Osu customers and non-customers of the bank could access financial services, buy and pay for items from EcobankPay partners and Xpress points electronically.

Speaking at the launch, Josephine Anan-Ankomah, the Group Executive in charge of Commercial Banking at Ecobank, said the bank was focused on leveraging its digital and mobile platforms to enhance financial inclusion.

"Ecobank's vision is to decentralise banking, where customers can access banking at the comfort of their homes or any location, without physically coming to the bank," she said.

There are currently more than 250 EcobankPay merchants along the Oxford Street and 15,000 across the country, where customers could buy from and pay electronically without cash and about 2000 Xpress points to enhance the ease in accessing banking services.

The partners include Somotex, Shell, Papaye, Woodin, Legacy Coconut, and African Artifact Trading Hub.

The Group Executive Commercial Banking said currently, about two million customers had embraced the Ecobank digital platform.

On his part, Mr Stephen Kemetse, the Regional Head of Transaction Services, said the EcobankPay platform aimed at encouraging Small and Medium-Scale Enterprises to receive payment for their sales and transfer same to their accounts.

Mr Kemetse said the processes were so simplified to ensuring that no one was left behind in the use of the various digital platforms to access banking services.

Ms Tara Squire, the Head of Consumer Banking in charge of Anglophone West Africa, said Ecobank was building a "proper ecosystem that propels

better digitisation".

He said the initiative sought to complement government’s efforts to drive the country to a cash-lite society.

The EcobankPay, however, can be used by governments and all businesses, from small informal micro merchants to large corporate organisations for easy and convenient payment options.