Ecobank Processed $1 billion in Transactions on its Mobile App in Africa

With over 4 million users, the Ecobank Mobile App is available to all, enabling users to open an Ecobank Xpress Account instantly on their mobile device

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DIGITAL ECONOMY over a smart phone on blur background , business technology concept
DIGITAL ECONOMY over a smart phone on blur background , business technology concept (Photo Credit: www.shutterstock.com)

The groundbreaking Ecobank  Mobile App, a single, unified financial services application across 33 African countries, has processed 9 million transactions worth over $1 billion since launch less than 18 months ago.

With over 4 million users, the Ecobank Mobile App is available to all, enabling users to open an Ecobank Xpress Account instantly on their mobile device (providing an easy route to financial inclusion for the previously unbanked).

There are now over 4 million Ecobank Xpress Account holders on the Ecobank Mobile App and USSD platforms.

Other bank customers may onboard the Ecobank Mobile App with their MasterCard or Visa cards while Ecobank customers do so using their card or retail internet banking credentials.

Users of the Ecobank Mobile App are able to transfer money instantly within Ecobank locally or across Africa using Ecobank Rapidtransfer, a unique service that is faster and more affordable than competing options. Consumers may also make transfers to other local bank accounts, mobile wallets and to Visa cardholders using Visa Direct on the Ecobank Mobile App.

Ade Ayeyemi, Ecobank Group CEO explained that Ecobank’s strategic mission is built around using mobile banking to deliver innovative, efficient and cost-effective services to those who have typically sat outside of the formal economy, and therefore goes far beyond the reach of the traditional branch and ATM networks.

Also read: Vodacom’s Digital Bank Moves R1.3 Trillion Through M-Pesa Service

Hand holding mobile with Mobile banking word and features icon with blur office counter background,Digital Lifestyle concept.
Hand holding mobile with Mobile banking word and features icon with blur office counter background,Digital Lifestyle concept. (Photo Credit: www.shutterstock.com)

He noted that they had processed almost as many transactions on the Ecobank Mobile App in the first few months this year as they did in the second half of 2017.

“Customers can enjoy 24/7/365 access to financial services from the convenience of their mobile devices with the Ecobank Mobile App,” he said. “We have brought world-class functionality to consumers in the 33 countries in Africa where Ecobank operates.”

The Ecobank Mobile App is available for download from the Google Play Store or Apple Store.

Also read: MTN versus Vodacom – Who is the Biggest Provider of Mobile Money in Africa?

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