Zenith Bank announces partnership with Facebook

Tier one lender Zenith Bank has announced an agreement with Facebook and Twitter to launch a Masterpass QR bot for the Facebook messenger.

This will enable Nigerian businesses set up digital accounts and accept QR payments.

Zenith Bank shares are currently trading at N30.40 in today’s trading session on the Nigerian Stock Exchange (NSE).

Facebook was launched on February 4, 2004, by Mark Zuckerberg and his fellow classmates Eduardo Saverin, Andrew Mccallum, Chris Hughes and Dustin Moskovitz.

The company has since expanded into other areas buying Instagram for $1 billion in April 2012 and Whatsapp for $19 billion in February 2014. 2016 revenues were estimated at over $25 billion and the company has over 20,000 employees.

Mastercard Incorporated is an American multinational financial services corporation. The company’s principal business is to process payments between the banks of merchants and the card issuing banks or credit unions of the purchasers who use the “Mastercard” brand debit and credit cards to make purchases.

The company employs over 10,000 staff and had revenue of $10.8 billion in 2016.

QR stands for Quick Response codes. They are used to store data and can be accessed by scanning them with a mobile phone.