First City Monument Bank has launched a contactless, cardless, and cashless Quick Response code to boost instant payments for goods and services.
The bank said it introduced the payment solution to ensure a hassle-free shopping experience and transaction for customers and merchants.
According to a statement by the lender, the new code is accessible via FCMB Mobile App, adding that the QR code ensures instant value for Peer-to-Peer (P2P) and Peer-to-Business (P2B) payments for goods and services.
It is done by scanning a unique QR code displayed by the merchant or PoS device. Each code will have unique details containing the information relating to the transaction and will link with the shopper’s mobile app already enabled on their smartphone.
Commenting on the service, the Managing Director of FCMB, Mrs Yemisi Edun, affirmed the Bank’s commitment to deploying innovative solutions that move individuals, businesses and the economy forward.
Edun said: “We are excited to add the QR code payment solution to our growing list of cashless payment methods to meet the ever-growing consumer demand for on-the-go purchases and quick, easy ways to make payments.
“It aligns with our vision to be a key partner supporting all segments of society through innovative and convenient financial solutions that enhance customer experience while promoting a truly cashless and contactless society”.
The FCMB QR code payment solution is expected to boost the adoption of the cashless and financial inclusion policies of the Central Bank of Nigeria (CBN) as well as drive growth for business owners.
