Q1. What is mVisa? What are its features?
- mVisa is a new, hassle-free and secure way to receive payments from your customers with just a smart phone and an mobile app. It transforms the way you do business.
- Consumers are able to access their funds (either from a card or from an account) from the
mobile app on their own phones and make payments to your merchant account using the
information displayed on your mVisa merchant information panel (QR code). You get notified
immediately when your merchant account receives a customer’s payment.
Q2. How do I benefit from accepting mVisa? mVisa brings you the following benefits:
- Increased sales: Customers can access their money to make payments anytime and anywhere, even if they are not carrying their wallets or sufficient cash. You can accept payments anytime and anywhere using just your mobile app.
- Faster transactions: You complete your customer transactions easily and with speed.
- Quick set-up: You can start accepting payments through mVisa without any set-up time or cost.
- Increases your efficiency: mVisa decreases the frequency with which you have to make trips to your bank to deposit cash.
- Improves your safety: Since the payments go straight into your account you have decreased risk of theft or pilferage of your money.
- Helps you track your cashflow: mVisa enables you to access your sales and transaction history at the tap of a few buttons on your own mobile app.
Q3. What steps do I need to take to start accepting mVisa for my business?
To accept mVisa payments for your business, all you need is a smartphone with a data connection (2G, 3G or 4G). The following few simple steps are involved for setup:
Step 1: Register for mVisa by contacting us at <> on <>. Accept the terms and conditions of the service.
Step 2: We will assign an mVisa merchant ID (numeric) to you and also generate your mVisa QR code. Both of these along with your merchant name will be displayed by you on your mVisa merchant information panel for consumers to make payments to you. (Other options for display are available as explained in question 12)
Step 3: You will download the app from the app store (Google Play or Apple App Store) onto your smartphone.
Q5. How many customers are able to make payments using mVisa?
- Although mVisa is a new service, customers enabled for mVisa is rapidly growing. Most large banks will be enabling the service as part of their mobile banking offering through an update to their existing mobile app. Activation of the service by customers is also easy and completed in a few simple steps.
Q6. How will customers make payments to ME using mVisa?
- Your customer will open the mVisa app on their smart phone to access their account. Customer will then scan the mVisa QR code displayed by you using their smart phone. The customer then key enters the amount and completes the transaction.
- You will receive a confirmation on your app of the payment received into your merchant account. You should check this confirmation and complete the transaction.
Q7. Do customers have to necessarily scan the QR code?
No. Customers could instead select to key enter your mVisa merchant ID as displayed by you. The transaction process will be the same as by scanning the QR code.
Q8. What should I do if I do not receive a payment notification? In case you do not receive the payment notification (while your customer claims that the transaction was completed by them) you should check the transaction history using your app. In case the transaction record does not appear their after some time, you should contact us at . You can visit Diamond Bank and First Bank of Nigeria for more information on mVisa.