Zenith Bank Plc has launched the Unstructured Supplementary Service Data, simplified as USSD payments on Point of Sales (POS) to enable customers pay for goods and services via POS terminals in merchant locations or e-commerce websites without using cards.
The new payment solution is powered by CoralPay which allows Zenith Bank customers to use the *966# Eazy Banking (USSD) to pay for goods and services on POS terminals in merchant locations or on e-commerce websites through the generation of a payment code on the POS terminal which is then confirmed by the customer using their USSD pin.
Speaking at the launch of the new payment solution, Peter Amangbo, Group Managing Director and Chief Executive Officer of Zenith Bank Plc., said: “This solution is an exciting and highly innovative initiative in promoting financial inclusion, facilitating payments by customers either remotely in the comfort of their homes/offices or at merchant locations without the use of a payment card.”
“With this solution, customers in remote locations plagued with challenges of poor Internet access can now carry out transactions easily using their feature phones.”
Zenith Bank’s *966# Eazy Banking on POS will further drive financial inclusion through agency banking. It also allows bank customers, irrespective of their bank, to carry out withdrawals from their accounts or wallets without cards on the POS terminals at agent locations.
The solution has been successfully connected to all existing POS terminals through integration with leading Payment Terminal Service Providers (PTSPs) and directly to e-commerce sites (Websites) of Zenith Bank merchants/customers.
It also supports wallet-to-wallet transactions across provider banks and Mobile Money Operators (MMOs), enabling interoperability across platforms, financial institutions and payment service providers (PSPs) in the payment industry.