Masterpass QR bot for Facebook Messenger is set to be launched soon in Nigeria. It's purpose is to help business owners in Nigeria move beyond cash transactions to accepting QR payments.
This will allow individuals and small businesses make and receive payments in real time via Facebook Messenger.
Masterpass QR provides people with any type of mobile phone the ability to safely accept and make purchases without cash or cards.
“Every business owner is looking for ways to increase sales and draw new customers into their stores. By offering QR-based digital payments, smaller retailers can achieve these goals and create greater customer stickiness with little to no investment beyond the phone they already have,”
said Jorn Lambert, executive vice president, Digital Channels and Regions, Mastercard.
“Brands and developers around the world are turning to messaging to connect with the 1.3 billion people who use Messenger each month,”
said Kahina Van Dyke, director of Payments and Financial Services Partnerships at Facebook.
“We are pleased that Mastercard is developing a service on the Messenger Platform to help small merchants use messaging to manage their business and connect with their customers.”
The technique in using it is not complex, businesses can send a request to the bot to enable QR payments, receive approval from the bank, set up an account and start accepting digital payments in a fast and secure manner. Once the account set up process is complete, business owners can print and display the QR code in their stores or save the code on their phones. Customers can pay by either scanning the code from their smartphone or by entering the merchant ID associated with the QR code into their feature phone.
Ecobank and Zenith Bank echoed support to this program. According to the MD/CEO of Zenith Bank Plc Mr. Peter Amangbo,
‘the Bank is partnering with Facebook and Mastercard to introduce Masterpass QR as a means of driving financial inclusion and creating a new payment ecosystem for MSMEs and consumers.
This initiative will help us encourage financial inclusion within the country in line with the strategic thrust of the Central Bank of Nigeria (CBN). Buyers and sellers now meet and conclude transactions in-store, online and on social media, so we are ensuring payments can also be made on these platforms via QR codes, without having to log onto other solutions or even take a break from what you are doing on Facebook’.
“In line with our goal to serve 100 million Africans by the end of 2020, Ecobank is delighted to collaborate with Facebook and Mastercard to enable underserved and unbanked micro-merchants with the opportunity to open an Ecobank account almost immediately and begin to receive instant payments using Ecobank Masterpass QR on the Facebook Messenger platform. Micro merchants in Nigeria are already benefiting from Masterpass QR and will soon be in 32 markets across Africa, enabling them to move away from cash. That is true economic empowerment,”
said Patrick kinwuntan, Group Executive, Consumer Bank, Ecobank Group.
Masterclass QR started far back in 2016.