Zenith Bank Boss Tasks E-Banking Heads On QR Payment System

Managing Director of Zenith Bank Plc, Mr Ebenezer Onyeagwu, has urged e-banking industry heads to sensitise customers and merchants on the importance of adopting contactless payment system.
Onyeagwu made the remark recently during a webinar organised by the Committee of E-banking Industry Heads (CEBIH).
He said the adoption of contactless payment was very low in Nigeria, because stakeholders had not created enough awareness.
The MD also  said  they could create awareness for customers and merchants through traditional and new media channels on how the payment system worked.
According  to him,  it was imperative to drive contactless payment to the last mile in terms of financial intermediation process.
“We need to drive and create awareness to the point where the man selling roasted plantain on the street will say no to cash and ask for contactless payment preference.
“Contactless payment is a method where payment is performed by scanning a Quick Response (QR) code from a mobile application.
“In terms of adoption China, Japan, the United Kingdom, Australia, Germany, U.S, France and Canada, among others, are leaders,” he  said.
Noting that in the Nigerian market the contactless form of payment was yet to gain traction, he said in more developed economies, contactless paymemt had transformed customers shopping experience through improved speed and enhanced security.
He explained that if Nigerians fully adopted the QR payment system, merchants would have access to daily transaction report, enhance payment experience, and also leverage data-driven insights targeted marketing.
Onyeagwu noted that  banks would benefit through account opening opportunities and share commission from payment.