Access Bank, a commercial bank in Nigeria, has rolled out a new multi-channel payment solution for banks called, PayWithCapture.
The new solution allows 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 System.
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The payment solution can be linked with different payment cards ((any bank’s MasterCard/VISA, bank account, mobile wallet), offering customers options to choose payment instrument of their choice.
In addition, the solution features in-built loyalty points and coupon rewards.
Using the PayWithCapture Coupon System, customers can reward their customers without the need to invest in complex reward systems.
Access Bank group managing director Herbert Wigwe said that PayWithCapture is a solution that allows for a combination of payment solutions to accelerate financial inclusion in Nigeria.
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By GlobalData"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 added.
Access Bank head of product management and innovation Gbenga Agboola said that the bank has partnered with merchants in all market categories to provide discounts for PayWithCapture users.
"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," Agboola added.
