Ecobank addresses customer need with new ‘Xpress Cash’ service
Ecobank Transnational Incorporated Plc has unveiled Xpress Cash service to address the needs of the unbanked and the general populace.
The lender said it was aiming to transform a mobile phone into an all-in-one bank account and payment/cash withdrawal tool.
The Xpress Cash functionality, it said in a statement on Thursday, had been introduced as part of its upgraded mobile banking app.
It explained, “Xpress Cash allows customers to withdraw cash from any Ecobank ATM using e-Tokens generated from the Ecobank mobile app. The e-token generated can also be redeemed at agent locations within any of Ecobank’s 33 territories across middle Africa. Additionally, customers can send e-tokens to third parties via SMS, email or social media.”
“Innovating for customer convenience is in our DNA at Ecobank,” the bank’s Chief Executive Officer, Ade Ayeyemi, was quoted to have said, adding that, “We have developed this fast, convenient and innovative mobile banking solution – cardless Xpress Cash at our ATMs and agencies to embed our digital platforms within the lifestyle of our customers and improve the uptake of digital financial solutions by both banked and unbanked in Africa.”
The bank’s Group Executive for Consumer Banking, Patrick Akinwuntan, stated, “Ecobank is known across Africa for leveraging the mobile phone to deliver instant bank accounts, transfers and payments to our customers. We are taking this to another level by giving our customers the opportunity to withdraw cash on our ATMs using their phones.”
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