Access Bank has announced the launch of a new application, PayWithCapture 5.0, an online banking platform designed to further ease the hassles usually associated with online banking in Nigeria.
Describing the new offering as a way of expanding the frontiers of banking in the country, the bank’s Chief Executive Officer/Managing Director, Mr Herbert Wigwe, stated that the new Paywithcapture 5.0 is an improvement on a similar application, Paywithcapture 3.6, introduced last year.
He explained that the new offering had become imperative despite the unique features of the earlier version, because of the increasing sophistication of today’s banking public in the country and the need for the bank to be in tune with the customers’ want.
The bank’s chief executive described the new application as one of the ways of deepening financial inclusion in the country, since the application allows Nigerians, from even the remotest part of the country to avail themselves of the opportunities of sending and receiving money, even without even without an internet facility.
“The fact that the application does not require an internet facility for one to use it gives room for a lot of Nigerians in very remote areas to send or receive money, unlike the regular online banking applications hitherto in use.
“Last year, we introduced the Paywithcapture 3.6 and we believe it had met our expectations going by the response it generated from the banking public, especially when it recorded more than one million downloads and over 37,000 merchants.
“But this new application will avail customers with new experience. It is going to change the belief of many about banking in Nigeria,” he stated.
He assured customers of the application’s security, noting that this had been tested in different countries across the globe before its introduction here.
According to the bank’s chief executive, the latest version, PayWithCapture 5.0, comes with additional features that enable customers to transfer funds from one bank account to another, while it has also been upgraded for users to experience the many benefits on larger screens.
Besides, he explained that PayWithCapture 5.0 users can also set up a savings’ club through PayWithCapture. Savings Clubs, commonly known as Ajo or Esusu to enable them save jointly with friends towards a common goal as the funds can be pooled and rotated among all members of the group.
The bank’s Head of Digital Banking, Adeleke Adekoya, explained, “We heard about the issues and complaints our customers had on the old app. With this new version, we have tried to resolve them all.”