Jan 25, 2018 (LBO) – Sri Lanka’s eZ Cash, a mobile money and payment service has launched the Quick Response (QR) code feature on its app enabling users to “Scan to Pay” and “Scan to Transfer” through their smartphone.
The latest QR code based “Scan & Pay” feature will be available via the eZ Cash app on any smartphone, and will enable eZ Cash customers to transfer money to any other eZ Cash customer or to make payments across the expansive eZ Cash merchant network by simply scanning the QR code of the recipient.
eZ Cash customers and merchants can download their personalised secure QR code via their respective
eZ Cash apps, and choose to retain it in their eZ Cash App or print it as a display label.
The enhanced convenience delivered by the Scan & Pay feature includes the elimination of the need to enter the recipient’s mobile number or Merchant ID since this information is digitally encoded in the QR code of the recipient, in addition to a quantum reduction in transaction time required to make a digital payment via mobile.
eZ Cash QR ‘Scan & Pay’ is set to transform the way money is exchanged between individuals as well as between customers and service providers, with an eco-system of millions of smartphone users – whether they be individuals, service providers or merchants, now being able to “Scan & Pay” each other.
While delivering a breakthrough in Mobile Money Transfer and Mobile Payment convenience, Scan & Pay transactions via eZ Cash will conform to the highest level of Mobile Payment security standards.
All transactions will be PIN protected and secured by Triple Data Encryption Algorithm widely known as 3DES authentication and transaction security protocols.
All transactions will be further validated via a confirmation SMS being transmitted instantly to both transacting parties.
During the first phase of introduction, Scan & Pay will be available at selected eZ Cash merchants, offering a 10 percent discount to all eZ Cash customers.
The service will later expand to host over 20,000 retail merchants and small stores across the country.