UTB Scan N Pay
UTB Scan N Pay Personal (P2P QR Payment)
- There is a desperate need to operate a cashless or cash-light society which would reduce government spending on printing paper money, help reduce corruption, reduce the risk of carrying large sums of money and increase tax based revenue. Most on the transactions done by the roadside are not capture and are among the highest users of paper money.
UTB Scan N Pay is targeted toward increasing the rate of financial inclusion by targeting the small businesses to open accounts with the minimum KYC requirement. Potential customers like Kekeh Riders, Market women, Sole Proprietor business will be encouraged to use this product. UTB customers will use their UTB Mobile App to Scan N Pay (Scan QR Code) for goods and services.
- With Scan N Pay, there is no need for card details, or even a card, to make payments. Just scan the QR code and the transaction is complete. The UTB Scan N Pay will provide customers with a QR Code which contains an encrypted picture of the customer’s name and account number which is readable by the UTB Mobile App. When you scan the QR code you will see the customer name and account number and then enter the amount to make payment.
UTB Scan N Pay Business (P2B QR Payment)
- For high-end merchants that receive high volumes of transactions, this payment process is managed in a different way. The “Scan N Pay” for P2B QR payment will operate similar to the “Scan N Pay” P2P QR Payment but the Merchant will have a Merchant App so that they will have full visibility on all payments as they are made in real-time. The Merchant will use their own App to acknowledge all payments made by any Scan N Pay customer.