Ecobank has enjoined traders and students to embrace the use of its rapid transfer product because of its immense benefits.

Speaking on the product recently, Ecobank Head, Cards & eProducts, Mr. Mike Ogbalu called on students going back to school and traders to use the product which is a sure guide against loss to theft and cross border bandits.

According to him, the rapid transfer is a most suitable and accessible payment solution for economic activities across Africa, that being the key objective in the development of the product.

 ”Rapid transfer has progressively captured and migrated regional transactions from the informal sector to the formal sector”.

He said the bank is offering gifts to reward the loyalty of customers who avail themselves of the product.

Ogbalu advised Nigerian businessmen, parents, students, faith- based organizations and others engaged in cross border transfers to use the product, explaining that  transfers could be made in the form of cash to cash; cash to account; account to cash; account to account; and cash pull.

Rapid Transfer, first of its kind in Africa consummates transactions in the local currencies of the countries involved and funds received are made available for payment within 5 minutes of delivery period.

It is available to both Ecobank customers and non-customers across Africa. Apart from eliminating the risk of carrying cash across borders, there is no need for users of this product to source for foreign currencies before a transfer is made within the Ecobank network in Africa.