GCB Bank, the largest indigenous financial institution, has launched a payment solution to facilitate faster service delivery, reduce the high dependence on cash and provide merchants control over their receipts.
Dubbed: ‘GCB LitePay’ the product provides a solution that combines a card reader and a versatile payment application on a smartphone to accept and process payment transactions.
The product, which has two components, is currently being deployed on two platforms on the smart phone; Android and Apple IOS and a Muira Card Reader with two options for accepting cards that is a lot for chip based cards and a swipe gorge for magstripe based cards.
Speaking at the launch, Mr Samuel Sarpong, Acting Managing Director, GCB Bank, said the launch of the product was a demonstration of the commitment to expanding the bank’s business and revenue frontiers, reinforcing a strong brand as well as delivering top-notch solutions to the ever-increasing number of customers.
He said the novel product, leveraging on the growing digital lifestyle and the proliferation of smartphones, was relatively affordable, ensure instant access to transaction data for reconciliation and boosts customers’ confidence through real time receipt notification, either by way of email and SMS.
Mr. Sarpong said the bank would provide the best support service and incentives with the aim to attract and sustain the interest of merchants, customers, both existing and prospective in the product.
Mr. Daniel Owiredu, Board Chair of GCB Bank, said the GCB LitePay would deliver quality and unrivalled customer experience, creating value for both shareholders and stakeholders.
“We expect that this key product will make payments easy for taxi drivers, food delivery services, mobile vendors and other operators,” he said.
Mrs Doris Wunu, Head, Consumer Banking, said GCB Litepay is targeting merchants with registered businesses without risk profiles that would pose a threat to the bank’s image or business.
The merchant must have the ability to communicate easily via telephone, email or SMS.
Mrs Wunu said the benefits that would accrue to merchants include increase in sales, quick resolution of issues via merchant portal leading to reduced customer complaints and remote monitoring and control of activities of the business through a dedicated web portal.
The cardholder would also benefit through clear trace of transaction and quick and easy resolution of disputes.
By Times Reporter