Access Bank Launches New Payment Solution, PayWithCapture

Access Bank on Wednesday at a media briefing in Lagos launched a new multi-channel payment solution for banks called PayWithCapture. The new payment solution can be linked with different payment cards (any bank’s MasterCard/VISA, bank account, mobile wallet) and affords customers the opportunity of selecting which payment instrument he/she chooses to use. PayWithCapture is a mobile payment solution that permits 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. Commenting on this innovation by Access Bank, Group Managing Director, Mr. Herbert Wigwe said: “Forging growth in mobile payment solutions requires inclusiveness. For the potential of mobile payment technologies to truly explode, it is important that we begin to see it as more than a bank initiative but more of a consumer initiative and that is where inclusiveness comes in. “We are committed to providing solutions that meet people in their niche and we have been working closely with technology partners to achieve this. Nigeria is an exceptional country with unique consumer needs.” He added that, Access Bank introduced PayWithCapture because it is a solution that allows for a combination of payment solutions to accelerate financial inclusion in Nigeria. This, he emphasised, allows the Bank to meet every consumer in their niche. “Banking is morphing into something at the intersection of retail and mobile, and inclusiveness is the way to go. 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 cognizance of our unique local challenges like nascent internet infrastructure,” Wigwe noted. Omokehinde Odumuyiwa of Master Card commended Access Bank for leading the path to a more enduring future, adding that the innovation is entirely that of Access Bank, which must be commended. Her words: “The innovation is entirely that of ACCES Bank and it is the answer for making payment when Point of Sales (PoS) terminals are down. It allows payment for things offline. The banking sector entirely needs to thank Access Bank for this innovation”.