Zenith Bank Ghana Ltd. has launched a new product called the GlobalPay application as part of a move to push for a cashless economy and attract new customers to the bank.
The GlobalPay application allows customers to view products from listed online stores and simply make purchases using their Visa cards or MasterCard cards.
Cardholders can therefore conveniently shop from the comfort of their homes on the website of any business that signs on to this technology.
The bank looks to soon further rope-in other modes of payment such as mobile money and E-zwich to provide further convenience to users.
Speaking at the launch, Acting MD/CEO of the bank Henry Oroh said the innovation forms part of moves to drive government’s vision of moving Ghana toward a cash-lite society and to keep pace with the fast-changing world where the Internet is used to provide essential services for customers at their convenience.
The GlobalPay application works in two ways: Website Integration and Storefront. The Website Integration is where the bank integrates its payment networks such Application Programme Interface (API) into a merchant’s website.
Customers of such merchants can therefore make direct payments with their cards from the merchant’s website.
The other mode, Storefront, has been made for merchants who wish to utilise the product but do not have websites and the technical capability to use the API.
The bank will be responsible for creating an online store for clients in this category so that they can list their products on the GlobalPay platform.According to Mr. Oroh, corporate institutions and individuals who sign up for this product can be assured of secure transactions and real-time payments.
Also commenting about the product, Dr. Setor Amedeku, Head-National Payment Sytems of the Bank of Ghana, commended Zenith Bank for bringing forth an innovative product that will push the central bank’s agenda of promoting a cashless economy.
He further urged all other banks to follow in the footsteps of Zenith Bank by introducing products like the GlobalPay, which will tend to benefit the central bank in the long-term.“A product like this will offer both customers and banks convenience in doing business.
If all banks were to introduce a product like this, the central bank will save a lot of money as it will spend less on printing money,” he said.Mr. Oroh added that signing onto the product will come at no charge.
Source: B&FT Online