This Pan African Life - Xpress Cash- Osahon Akpata
Over the last decade, financial services in sub-Saharan Africa have evolved rapidly to meet the needs of consumers, businesses, and the government. At Ecobank, we seek to provide world-class financial products and services that are affordable, accessible, and fit for purpose in the markets we serve. In 2016, we launched Ecobank Mobile, a unified mobile banking application across 33 African countries developed by Africans for Africans and our unique needs. Our goal was to democratize access to financial services by offering a suite of products at scale and reducing the cost to serve consumers across Africa.
Today, there are over 12 million registered users on Ecobank Mobile (App and USSD) and we processed $3.5 billion in transactions via the platform in 2020. A recent survey of Ecobank Mobile app users revealed that 77% rated their experience as good to excellent. We also noted that some of the very innovative features offered on the Ecobank Mobile app were unknown by its users. It was clear that we needed to do more to increase awareness of the functionality of the App in meeting common use cases amongst consumers.
Last month, we launched, This Pan African Life, a video series that highlights the use of Ecobank Mobile App to meet the lifestyle needs of consumers in the countries where Ecobank operates. This series of short clips focus on use cases for the rich features available on the bank’s flagship digital banking platform.
In episode 1, we showcase Xpress Cash, a service that allows Ecobank Mobile users to send an electronic token to beneficiaries who do not have bank accounts for redemption as cash at Ecobank Xpress Point agents or Ecobank ATMs. Ecobank has over 78,000 Xpress Point agent locations and 2,500 ATMs, so there are many places for beneficiaries to pick up cash.
Have you ever needed to send money to someone who does not have a bank account?
Maybe it is a carpenter who came to your home to repair a table, or you have run out of cash and you need to send your housekeeper to the market to buy some meat and vegetables. Or maybe you have a relative who has an emergency and you need to send them cash quickly.
If you have any of these types of situations going on, Ecobank Mobile App has you covered. You can send them money via Xpress Cash. It’s quite simple.
The app creates an electronic token which you can then share with the beneficiary. All they have to do is go to an Ecobank Xpress Point agent or an Ecobank ATM and withdraw the cash in a few simple steps. They don’t need a card to get cash, just a code. It’s amazing!
So, next time you need to send money to someone who does not have an account, use Xpress Cash. Download Ecobank Mobile App today and start transacting. You will be glad that you did.