Want to sell products or services online in Malawi and get paid directly into your bank account? For years, this was a major hurdle. Then Ecobank introduced its Web Acquiring System – a genuine game-changer for Malawian e-commerce.
We were among the first to integrate this system and demonstrated it at its official launch. Let's break down what it is and why it matters for your business.
What Is It?
Simply put, it's a secure payment gateway approved for Malawi. If you have an online shop, hotel booking system, or service that requires online payment, this system lets your customers pay instantly using their Visa or MasterCard (from any bank), and the money goes directly into your Ecobank account.
How It Works (The Simple Version)
- You open a business account with Ecobank and apply to become a merchant.
- Once approved, Ecobank provides the technical tools (API) to add their payment option to your website checkout.
- A customer chooses to pay via "Card" on your site, enters their details on a secure Ecobank page, and the transaction is processed.
- If approved, the funds are settled into your account within 24-48 hours. You get a notification, and you can fulfill the order.
Why Choose This Over PayPal or Stripe?
For businesses operating primarily in Malawi, this system has key advantages:
- Direct Deposits in Malawi: Money goes straight to your local Kwacha account. No need for complex foreign currency accounts or waiting for international wire transfers.
- Local Support & Understanding: You deal directly with a local bank that understands the Malawian market and regulatory environment.
- Security You Can Trust: Ecobank's system is PCI DSS compliant – the global gold standard for payment security. They handle all the complex fraud prevention.
What About Costs?
Ecobank charges the merchant (you) a negotiable commission per transaction, with no setup fee. The customer pays no extra charge. You will have development costs to integrate the system into your website, but the barrier to entry is now much lower.
This system has truly helped revolutionize online business in Malawi, making it easier and safer for local companies to sell to both local and international customers.
Ready to accept card payments online? We have extensive experience integrating Ecobank's gateway with websites. If you have an e-commerce site or are building one, talk to us about making it a revenue-generating reality.