First City Monument Bank (FCMB) has launched a contactless, cardless, and cashless Quick Response (QR) code to boost instant payments for goods and services.
The Bank introduced the payment solution to ensure a hassle-free shopping experience and transaction for customers and merchants.
Easy to use and accessible via FCMB Mobile App, the QR code ensures instant value for Peer-to-Peer (P2P) and Peer-to-Business (P2B) payments for goods and services.
Commenting on the service, the Managing Director of FCMB, Yemisi Edun, affirmed the Bank’s commitment to deploying innovative solutions that move individuals, businesses and the economy forward.
According to her, “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 secure, easy to set up, offers low transaction fees and real-time payment confirmation, and reduces dispense errors. It 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.
“The Nigeria Quick Response (NQR) payment solution code is an initiative of the Nigeria Inter-Bank Settlement System (NIBSS) as an innovative payment platform implemented on behalf of all financial service providers. Launched in 2021, it is a solution that unifies all the QR code schemes in the country for consistent user experience and accelerated digital adoption. As consumers and merchants move towards technology-driven solutions, QR codes are increasingly important.
“A purpose beyond-profit corporation, First City Monument Bank, a member of the FCMB Group led by Ladi Balogun as Group Chief Executive, is building and driving an ecosystem that fosters inclusive and sustainable growth across Nigerian communities.”
