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Equity Bank Develops New Application for Cashless Economy

by Williams Buningwire
4:12 pm

Officials explain EazzyPay at Equity Bank press conference

The push to a cashless economy continues apace, albeit at a slower pace than hoped.

Rwanda has set 2024 as a target for general acceptance digital payment, and for all government payments to go digital.

The Rwanda subsidiary of Equity Bank has launched an application that will enable businesses to conduct all transactions with their customers digitally. The application known as EasyPay, is already up and running, but, is available only to Equity customers.

According to Equity Bank, the application couldn’t be easier. All their clients have to do is register, and their telephone number will be linked to the Merchant account.

Hannington Namara, managing director of equity bank said that, “This system is applicable only to people with bank accounts in equity and it has been developed to embrace digital banking system which is the country’s priority to go cashless in future.” Said Hannington Namara, Equity Bank’s managing director, Rwanda.

“To register to EasyPay, businesses need only present their National Identity cards, Business registration number, and their Rwanda development Board business certificate” he added.

Users of smart phones, can just download the Application (EasyPay) and scan the code and follow the instructions.

“Having money in cash is good. But it’s better when in digital form, because you are always sure of safety, with this digital platform you can sell all goods and services, including in bars and restaurants, for instance,” said Namara.