One of the foremost banking institutions in Nigeria, Access Bank has improved upon the current methods of electronic payment in Nigeria as it has released a new product, PayWithCapture, which allows consumers, merchants and financial institutions access to a more effective, efficient and easy way of transacting without cash.

The Bank launched the product in front of media and business personalities at Spice Route Restaurant in Victoria Island on Wednesday, July 8, 2015.

PayWithCapture is a mobile payment solution that permits customers to make payments by scanning a generated QR-Code using the camera of their mobile device or by simply walking into a store and their Beacon-NFC Pay automatically prompts you to pay. It can be linked with different payment methods (MasterCard/VISA, Bank Account & Mobile Wallet) and it is available to download from all major app stores: Google Play Store, Apple Store and Blackberry World.

CEO of Easy Taxi, Adaora Asala speaking during the launch said the company’s fleet had already started using the technology and applauded the bank for helping to make the city of Lagos adopt a more modern and sophisticated transportation system.

Also addressing the eminent personalities there present, Omokehinde Ojomuyide, Vice President and Area Business Head, MasterCard, West Africa said, ‘We continue our quest to develop a world-class payments ecosystem in Nigeria, working alongside our innovative partners such as Access Bank to focus on providing merchants, consumers and partners access to the convenience of electronic payments. Access Bank has leveraged our Payment Technology to create an innovative way to make payments at merchant locations with a mobile phone, thereby demonstrating the power of partnering with the right technology partner. Upon this foundation, they have layered their own home-made technology that makes payment as easy as taking a picture.’

Head of Product Management, Innovation& Digital Banking, Olugbenga Agboola, responding to questions from newsmen said that PayWithCapture works with or without access to the internet.
Roosevelt Ogbonna, Executive Director, Commercial banking said that the PayWithCapture product would revolutionize the way payments are made in Nigeria. The top banker said the product was available to all bank customers and not exclusive to Access Bank customers. ‘This product adheres to our core values of Speed, Service and Security. There is speed of integration, speed of service delivery and most important it is secure. It also helps Nigerians to reduce the stress in making financial transactions. As for security, it will allay the fears of those adverse to the safety of cards for online transactions’, said Roosevelt.

He added, ‘I believe we have something that will revolutionize the way payments are done in the Nigerian space’.

For more information visit, www.paywithcapture.com . The app is available for download on all major app stores (Apple, Google Play and BlackBerry).